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Performance Measurement

The full title of this short book is

The Mindset Warrior Summary Guide: The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey and Jim Huling: Key Concepts, Main Lessons & Theories

In my review posted on Amazon.co.uk, I gave it 4 Stars. This means it is Good and Well Worth Reading.

Here is my review.

Very helpful reminder of the main points of 4DX

The full book of the 4 Disciplines of Execution is quite repetitive. When it first outlined the 4DX approach, I thought it was going to be a brilliant expose of how to get very important things done effectively by a team. Unfortunately, I found it a frustrating read and I wouldn’t be surprised if it’s a book often started but not finished. [continue reading…]

in Best Business Books

The full title of this book by Chris McChesney, Sean Covey and Jim Huling is

The 4 Disciplines of Execution: Achieving Your Wildly Important Goals

In my review posted on Amazon.co.uk, I gave the book 4 Stars. This means it is Good and Well Worth Reading.

Here is my book review.

Great concepts for achieving excellence in virtually any situation

This book is about creating change, getting people to implement a new strategy by changing what they do through commitment rather than compliance.

Many business books are based on looking at successful companies and finding common factors in what they do. Other times, academics will develop their theory and then go out looking for evidence it works. This book is different. [continue reading…]

in Best Business Books

Why Focus On Performance Measures

Having an effective performance measurement system is the key ingredient to knowing your business is under control and producing the results it should do.

Or if something goes out of kilter, you get to know about it quickly and you can bring it back under control by taking whatever actions are necessary.

Measures Are Essential For Independence From Your Business [continue reading…]

in 1 – Your KPI

Welcome to Pillar 1 of the Eight Pillars of Business Prosperity, my system for helping any type of business to increase profits.

The focus of Pillar 1 is on your Key Numbers, Measures and Performance Indicators.

Where You Are [continue reading…]

in 1 – Your KPI

Pillar 1 Your Key Numbers – What’s It All About?

Pillar 1 Your Key Numbers – What’s It All About?

Pillar 1 “Your Key Numbers”  is concerned with establishing where you are in your business, both now and at every stage through your improvement process.

Why Performance Measurement Is Important

In the performance measurement world there are two popular phrases which will help you think about this essential area which is not done well by many of the small businesses I encounter. [continue reading…]

in 1 – Your KPI

How To Measure Marketing Activities

Marketing is a critical activity for any business that is not in a monopoly supply position or operating in a marketing where demand overwhelms the ability to supply. But how can you measure marketing and know if it is working?

“Half the money I spend on advertising is wasted. The trouble is I don’t know which half” is a famous quote from John Wanamaker, a department store entrepreneur in the late 1800s and early 1900s.

One hundred years later, it’s still a sentiment that many business owners and senior managers can relate to.

The Two Types Of Marketing

I normally talk about the two types of marketing being the difference between search marketing and outreach marketing:

  • Search marketing – making sure your business is found when a customer or prospective customer is looking for suppliers.
  • Outreach marketing – reaching out to target potential customers to encourage them to take action to contact you before they begin searching more generally.

Today I want to refer to a different two types of marketing activities:

  • Brand building – promotional activities to increase the awareness of a brand name and (hopefully) the brand positioning, i.e. what the brand stands for and means.
  • Direct response marketing – actions taken to encourage a customer to make contact with you immediately.

There is some crossover since direct response advertising can also help to build brand awareness depending on the extent to which the business name and any slogan is emphasised in the promotions. [continue reading…]

in 1 – Your KPI, 4 – Lead Generation

The full title of this book by Robert Kaplan and David Norton is

The Balanced Scorecard: Translating Strategy into Action

In my review posted on Amazon.co.uk, I gave it Three Stars.

Here is my review.

Sensible idea backed by brilliant marketing.

Back in the early 1990s I was thinking a lot about performance measurement in a manufacturing business and I wanted to reflect more non-financial factors that provided a more balanced view and cascaded our main business objectives down the organisation.

When I read the book I found that the authors shared many of the same ideas as I did. This was no surprise when much of it is common sense when you take the time and trouble to think about it. The problem at that time was few people were really thinking beyond financial measures and a few productivity based volume metrics.

What they did, that I didn’t, was 1) come up with a catchy name and 2) swing a brilliant marketing campaign behind it.

The strength is that when this is explained, it all seems so logical. Of course you need to link KPI to your strategic objectives with a good balance of leading measures that predict future performance with the all important, but lagging, financial numbers.

The weakness is that it’s much harder to do in practice. There’s a cost involved in measuring and reporting anything and the value of monitoring has to come from corrective and supporting actions.

The balanced scorecard has gone on to be extremely popular with big companies and the logic of a balanced set of performance metrics needs to be rippled down into the independently owned SMEs. While this book began it all, there are better books that update the ideas and give you a clearer idea of how to implement eg Paul Niven’s book “Balanced Scorecard Step-by-Step: Maximizing Performance and Maintaining Results“.

There are many thousand of business books, you can see the full list of my reviews at Business Books Reviews by Paul Simister (Please click). I've also narrowed these down to a list of the 12 Best Business Books For Business Owners & Entrepreneurs (Please click).

Get To Know Me

Paul Simister is a business coach who helps business owners who are stuck or struggling with disappointing marketing, to get unstuck. You can then start attracting, converting and keeping more customers. If your business is based in the UK and you feel stuck, get a Business SOS consultation for up to 2 hours (please click) with me to get you unstuck.

Don't forget to download and read my FREE Report - The SIX Steps PROFIT Formula: The Simple Rules That Every Small Business Owner Needs To Know available to download at Six Steps Report (Please click).

 

in Other Business Books

In my review of

Developing Meaningful Key Performance Indicators

by Clive Keyte posted on Amazon.co.uk, I gave it Three Stars.

Here is my review.

A useful introduction without going into too much detail

Key performance indicators are important but it’s a hard subject to make interesting when you’re writing about it.

The author provides a seven step methodology for creating a set of KPIs for a business based on its objectives. Overall for a low cost book, I thought that it was good effort with plenty of sensible advice which starts with setting objectives. [continue reading…]

in Other Business Books

The full title of this book by Donald Gusfa, Kenneth Gusfra and Daniel Stanley is

The Balanced Scorecard: A Practical Primer To Enhance Your Performance Through Strategic Goals

In my review posted on Amazon.co.uk, I gave it Two Stars.

Here is my review.

Disappointing

I firmly believe in the idea of encouraging small businesses to develop a well balanced set of performances linked to their strategic objectives.

The balanced scored, as developed by Robert Kaplan and David Norton, is such an approach. [continue reading…]

in Other Business Books