All Metrics Are Not Created Equal - Coaching Success - #572
Barbell Logic
Barbell Logic
4.6 • 1.2K Ratings
🗓️ 26 July 2024
⏱️ 15 minutes
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Summary
Not all metrics are created equal. Learn about the hierarchy of metrics, including targets to improve (TTIs) & key performance indicators (KPIs) and ensure you are measuring what matters.
Not All Metrics Are Created Equal: TTIs & KPIs
Two main categories of metrics exist to help measure progress toward strategic goals and gauge the health of the company: targets to improve (TTIs) and key performance indicators (KPIs).
TTIs are your top set of metrics, which have to directly impact your strategic priorities. Your strategic priorities need to align with your tenets and core values.
If these metrics improve, you have moved closer to or met your strategic priorities. These are not monthly or quarterly (though you measure them monthly and quarterly and probably more often than that) but likely annual priorities and TTIs.
KPIs are snapshots of the health of the company. If they improve, they should help your TTIs and strategic priorities (for the most part).
Often times, these are metrics that lower-level employees may care about. The CEO does not need to get into the weeds of Instagram post performance, for example, but the social media manager does.
Some metrics will likely not move, but if they do move you need to identify why they moved (either to understand the success or address the underperformance).
For Barbell Logic this might be churn. A good example in another industry is engine temperature in an airplane. This should remain constant, but if it starts to go up you need to address it quickly.
Not All Metrics Are Created Equal: Hierarchy of Metrics
What you measure focuses your attention, so pick your metrics carefully. The CEO should not be looking at 100s of metrics. Improvements in your TTIs must actually move you closer toward your strategic priorities.
For example, if a strategic priority for you is to earn $50k in coaching revenue this year, revenue is a TTI. KPIs that align with this may be churn, clients, cold calls, and life time value of clients.
Make sure your metrics align with your priorities and your priorities align with your values and tenets. Prioritize metrics: do not measure metrics just because you can.
Not all metrics are created equal.
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Transcript
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| 0:00.0 | You're listening to Barbell Logic. |
| 0:04.7 | The podcast where we talk about what it means to experience strength. |
| 0:08.3 | And how you can use simple, hard and effective strategies in training and nutrition to improve your life. |
| 0:15.0 | It starts with meeting you where you are right now and finding lasting solutions. |
| 0:20.0 | Welcome to the show. You're listening to the Barbadosa podcast. I'm your host Matt Reynolds. Happy Friday |
| 0:36.7 | everybody. This is another episode of the Coaching Success series. I want to talk a little |
| 0:40.9 | bit today about something that I've had some questions about lately and it's really how we divide up our metrics. |
| 0:45.8 | There are really two types of metrics and maybe even three that we keep at Barbell logic and the metrics that matter. |
| 0:53.1 | When you talk about metrics that matter. |
| 0:55.1 | And the first one, again, all of this really kind of stems |
| 0:58.9 | from the core values or the tenants of the company. |
| 1:02.4 | So the tenants are the same for us to serve our clients |
| 1:05.1 | and coaches well to grow our company, |
| 1:07.7 | to teach our community, and to steward our resources. |
| 1:11.0 | Those are the four big ones for us. And then each year as we meet or every six |
| 1:15.3 | months or so as a mission control team as we meet in person, we talk through the |
| 1:19.5 | major priorities for the year. So what are the big priorities for the year? For us right now |
| 1:24.0 | that's content marketing and sales. Number one, I won't go into the details and the |
| 1:28.3 | numbers. Number two is to execute the Turnkey Coach product roadmap, |
| 1:33.2 | basically to provide the best service possible, |
| 1:36.2 | sustainable growth, enhanced customer satisfaction. |
| 1:40.1 | Number three is to create an update, |
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