Many leading edge companies know there are a number of key leading indicators that, if
monitored, can identify the potential early
warning signs of a company losing its’ competitive edge.
These
are strategic measurements included to evaluate their
long term competitive health. With this information, management can take early corrective
action.
Periodically, I will write
about these warning signs in this blog.
The first two measurements
are:
·
Sales
Lead Effectiveness: The
effectiveness of your sales/marketing teams to turn a qualified lead into a
sale. Do you know if this measurement has gone up or down over the years? High
quality companies improve this measurement year over the year. Do you? Do you
know why you are winning or losing?
·
Retaining
Tier One Employees: What percentage of your employees are rated “tier
one”. High quality companies improve their average over the years. Do you know
why you are succeeding or failing in retaining your tier one employees?
These are just two of a
number of key indicators that we believe should be measured to improve
profitability.
Please feel free to contact
me if you have any questions.
Joseph Bonocore
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