Most of last week, I covered jealousy, envy, the cures for both and most importantly the quick and easy ways to fame and fortune. But now it is time to back up a minute and discover where you are right now and see if you are even heading in the right direction.
How are you doing? Are you on pace, ahead or behind schedule with your every goal and objective?
Do you know?
A lot of people do NOT know, and that’s too bad. There’s a line in the Kenny Rogers song, advice from a lifelong gambler: “you never count your money when you’re sitting at the table.” The advice came from a guy who died broke in a boxcar, riding the rails.
By all means, count. Every day. Every hour. Every week. In every way that you can.
I am ASTOUNDED at the otherwise smart entrepreneurs I have sat with in consulting days who aren’t counting. I recall one with two men running a company with an in-house sales force. They knew the macro numbers: sales up 40%. All salespeople beating quota. But they knew none of the micro numbers – and when they go home and investigate them, they are going to discover the increase is largely deception; recurring monthly billings being converted to discounted prepays.
The cross-selling of other products isn’t occurring because it’s not being measured. Another past VIP Member in the manufacturing business wasn’t job costing. Immediately after discussing that at a meeting, she uncovered a severe flaw in the way customers were being charged.
Look, frankly, I never found this any fun, and it’s one of the reasons I’ve chosen not to build, own and run a business. But if you are going to do it, it is incumbent to do it right. By knowing what the hell’s going on.
I am also ASTOUNDED at otherwise smart entrepreneurs playing blind archery everyday; not measuring their gains toward targets, on timetables.
This isn’t Amtrak here, subsidized by the government. This is your life. You can’t get somewhere on time unless you know where you’re going and have a timetable for getting there.
I have a client who says he wants to sell his business for 10-million dollars in the next few years . I asked: what does it have to look like – in detail – by then in order to achieve that goal?
He couldn’t tell me. And odds are, he won’t sell that business in that time frame for 10-mill either.
Tick, tick, tick, tick, tick.