The Signs Along The Road
The future is ahead of you.
That sounds obvious, I know. But so many leaders spend their time looking at historic data and believe they can grow the business by looking at the past.
Here’s a secret: You can’t change the road you’ve already traveled. You can only change the path in front of you.
Sure, historic data is important and it can give you insight into where you’ve been. But where you’ve been isn’t always a great indicator of where you’re going.
If you want to control your growth, you must look to the road ahead of you.
Unfortunately, that road ahead is dangerous. There are potholes, snipers, and dead ends.
But don’t you worry your leadership lungs on this: there’s a “good news / bad news” scenario here for you.
The good news is that there are signs along the road ahead to warn you of the dangers. As long as you pay attention to the signs, you can make adjustments before they kill you.
The bad news is that the signs are hidden. If you don’t pay attention, you’ll miss them. In fact, you have to consciously look for the signs in order to get the warnings.
6 Leading Indicators
Your business doesn’t need to be losing money to be stagnating. In fact, you can even be growing your business and still on the road to stagnation.
Simply because money is coming in the door, it doesn’t mean your future is bright. As I said, there are hidden signs out there that the road ahead may be bumpy.
Here are six leading indicators that might be worth considering.
1. Are competitors growing at a faster rate than you?
Because you’re growing, it doesn’t mean you’re not moving backward.
2. Is your YOY growth better or worse than the competition?
What caused you to slow down? Or them speed up?
3. Is there an increase in employee turnover at your company?
Leadership is not aware of all the problems
4. Is there an increase in client turnover?
Where is your feedback loop?
5. Do employees lack accountability?
Lack of accountability is a virus that can become deadly. Oh, and the answer isn’t to just push them harder.
6. Are loyal clients challenging the company more than they have in the future?
By the time your loyal clients are unhappy, well… that’s not good
There are a whole bunch of different leading indicator options out there. If you don’t know your most important ones yet, I strongly encourage you to figure it out.
Nobody likes surprises.
And nobody is showing up because you have Live Jazz on Thursdays.