From thinking outside of the box to reminding yourself of your role model behavior, here are 14 answers to the question, “Can you share your most helpful tips for measuring effective action in business and life?”
- Consider Intangibles and Outside Opinions
- Promote Accountability and Growth With Clear Expectations
- Look at Your Business’s Financial Statements
- Assess the Impact You’ve Had On Others
- Set Up Proper Benchmarking
- Track Smaller Tasks Connected to a Goal
- Be Patient When Considering Results
- Ask Yourself, “What Problem Am I Solving?”
- Make It Actually Measurable
- Measure in Satisfaction
- Start With Your Desired Goal and Work Back
- Evaluate Objectively Year Over Year (YOY)
- Average How Many New Customers You Get
- Notice When Other People Use You as An Exemplar
Consider Intangibles and Outside Opinions
Measuring effective action in both business and life requires a proactive approach. For example, instead of always focusing on measurable results, consider the intangible benefits, such as increasing customer satisfaction or creating efficiencies.
Unconventional tactics, such as bringing in an external consultant, can provide added perspective to the problem and shed light on solutions that may have been previously undetected. This outside opinion can often lead to insights that would otherwise be unachievable. By strategically using these tools, it is possible to effectively measure progress towards any goal and alter course when needed.
Promote Accountability and Growth With Clear Expectations
One tip for measuring effective action in your business and life is to set clear responsibilities and expectations. An uncommon example that illustrates this principle could be peer-reviewing to measure success.
Providing an opportunity for colleagues or team members to review each other’s work can be a great way to hold each other accountable while encouraging growth and collaboration. Peer-review processes can also help eliminate potential biases, promote constructive criticism, and add value by bringing multiple perspectives together on single tasks or projects.
Look at Your Business’s Financial Statements
Financial statements, such as income statements and balance sheets, can give you a clear overview of your business’s financial position, so they are essential for measuring the effectiveness of any action that you take.
They can provide insight into how well your business is doing, show where improvements can be made, and identify areas with potential for growth. Additionally, these documents can give you insight into how much cash flow your business is generating, allowing you to better understand the financial health of your business.
Assess the Impact You’ve Had On Others
The best way to measure effective action in your business and life is to see what kind of impact you’ve had on others. The impact you’ve left on people’s lives is the best way to measure action because it’s the most important part of being a leader. You want to see how many lives you have changed and how many people have been positively influenced by your presence.
Matthew Ramirez, CEO, Rephrasely
Set Up Proper Benchmarking
Setting up a benchmarking system is essential if you want to gauge how effectively you are acting in both your business and your personal life. This entails monitoring results in relation to predetermined objectives so that you may base decisions on accurate information.
Setting benchmarks correctly necessitates having a clear idea of what success looks like in order to compare future outcomes to these standards. Consider factors like resources and timeframe when evaluating results since they could be just as important success indicators as the outcome itself. You may foster an atmosphere where slow but significant progress over time is both conceivable and likely by routinely monitoring successful action.
Track Smaller Tasks Connected to a Goal
I measure effective action by tracking the completion of smaller tasks connected to a larger goal that I set. Breaking a large goal up into chunks and celebrating the smaller wins is an incredible way to see how far you’ve come without getting disheartened about progress or losing track of the final goal destination.
Be Patient When Considering Results
Like many small business owners, I’m ambitious and driven. These qualities have allowed me to grow my company nationally over the last decade, but also mean I sometimes feel dissatisfied when a fresh approach or technique doesn’t quickly bear fruit; I hold myself to a high standard.
Over the years, though, I’ve discovered that the worst thing you can do is give up on a project or expansion prematurely. That campaign you think is a failure may only need more time to turn around; cutting it short ensures you’ve wasted time and effort. So, if you’re a result-driven person like me, consider talking to industry insiders or colleagues to ensure you’re not setting impossible timelines for yourself.
Ask Yourself, “What Problem Am I Solving?”
Time is limited. I can keep myself toxically productive all day, both personally and professionally, if I do “stuff” and hope for the best. However, in the last couple of years, I’ve found that by asking myself, “What problem am I solving?” I can manage my attitude toward the project, create a plan or to-do list, implement the right behaviors to approach my project with the highest level of efficiency, and meet all my deadlines, accountabilities, and objectives.
This method keeps me on course and productive healthily. By breaking down how I allocate and spend my time solving for resolutions or hitting milestones. Whether it’s how to pick up my sons from their events ending at the same time in opposite areas of the city or how I pace out my work week for the greatest impact—I can ensure that I am creatively meeting all of my accountabilities because every action I take is getting me closer to my goal(s).
Make It Actually Measurable
Let’s make it clear: It’s only possible to measure your effectiveness and success by considering how you will measure it. For every goal, write steps with a direct plan on what, how, and when you want to accomplish it. Break it down. Map it out. Add numbers. That’s the meat and potatoes of every project.
And yet, many people miss this step. Every time you come back to the task, you’ll immediately see the progress. A great bonus? You use the same psychological trick that long-distance runners use. When they feel exhausted, do they think about how many kilometers are left? No, they look at an object before them and focus on reaching it. Rinse and repeat.
Measure in Satisfaction
Measuring personal satisfaction would be the one advice I would like to offer to gauge the effectiveness of activity in both work and personal life. Whether you are a business leader or an employee who turned up for a hard day’s work, how you feel about your own achievement can serve as a decent gauge for how you feel about your company’s success and about yourself.
It is a solid sign that a company is successful overall if everyone (or nearly everyone) feels successful. Besides the company, if you are satisfied with the choices you made, it signifies that you have made some wise selections on a personal level as well.
Start With Your Desired Goal and Work Back
Reverse engineering your goals is key to measuring how effective your actions are. You start with where you want to be, then work backward by creating the steps that need to get you there. When you approach work, you ask whether these steps are key to helping you gain traction toward that goal.
If they are, you dial down your efforts. If not, you can delegate the task or shelve it until you have time to get to it. Reflection is key. You need to take time to review your actions and your progress. This helps you determine if you’re on target to reach your goal or need to adjust effort, strategy, and actions.
Evaluate Objectively Year Over Year (YOY)
As humans, we are largely boxes of habits, some proudly positive and some shamefully negative. To measure effective action in your life, you must curate an objective inventory of your bad habits at periodic intervals, say at specific months or anniversaries in your life. Next, commit to improving these habits and have a non-biased year-over-year evaluation of your habit inventory.
Let us imagine you had your habit inventory in January 2022 and now in January 2023. Compare both inventories, which bad habits are missing (or which have been added). If you have a shrinking inventory of bad habits year-over-year, it is clear because you are taking effective actions in your life.
Now, specifically identify such positive actions and consolidate them. In situations where bad habits are added, diagnose which activities birthed those activities (or routines) and work on eliminating them.
Lotus Felix, CEO, Lotus Brains Studio
Average How Many New Customers You Get
This can be a useful indicator of whether your actions are effective. If you see an increase in the number of new customers, it is likely that your efforts are producing results. If there is a decrease in the number of new customers, then it may be time to rethink your approach and make changes.
It’s also a good idea to be sure to look at the customer retention rate. This can provide a good overall picture of how well your business is doing and give you an idea whether your efforts are making a difference. Being able to measure your success in terms of customer acquisition and retention will help you make informed decisions about marketing strategies, product development, and other business decisions.
Notice When Other People Use You as An Exemplar
The most telling method of measuring effective action involves observing other people’s perceptions of you. When you act effectively and deliver, people take notice and associate those achievements with you personally.
For example, if someone asks, “What makes a good manager?” and someone puts you forward as a relevant exemplar, you know that you have succeeded in this domain. We naturally want to emulate successful people, and if people hold you to this standard, it suggests your actions have been effective.
Although this can be difficult to track, when it occurs, you must recognize the importance of being an exemplar, recognizing your achievements while continuing to set a good example for those who look up to you.
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