Mo asks Ron Friedman: How can we create and close more big opportunities and business? We know from the research that anything you want to improve on you need to keep score of. In other words, you need to track your numbers. Simply relying on closed...
Mo asks Ron Friedman: How can we create and close more big opportunities and business?
- We know from the research that anything you want to improve on you need to keep score of. In other words, you need to track your numbers.
- Simply relying on closed deals is not enough. There are way more metrics that you can track that are better indicators of progressive improvement. You have to identify the metrics that indicate you are doing a good job in your field and track them over time.
- When you track those numbers the metrics become motivating. You tend to be more mindful of what you decide to do and it exposes wasteful effort.
- We are sensitive to numbers evolutionarily speaking. Numbers give us crucial information that we need to succeed in many different areas of life.
- Only tracking the lagging indicators like deals closed is only half the picture and they aren’t directly in your control. You need to track leading indicators that are in your control as well.
- Your scoreboard needs a balance between short-term and long-term goals. This applies to the overall success of your career, but extends into your personal life and relationships as well. We want to avoid over-optimization of a single metric to the detriment of everything else. Metrics can be a mix of both quantity and quality.
- In terms of metrics that you should focus on, you need to work backward from your target audience. Not all prospects are created equal. We would all be wiser to think about the one person that you want to work with the most and how to replicate them.
- Subjective metrics can still be beneficial, but even within those metrics there are things to drill down on to identify what makes the metric important. In the case of meaningful conversations, did both parties speak equally? Was there self-disclosure from both sides? When you compare the ordinary to the extraordinary you will be able to identify some objective metrics that you can aim for that will enable you to be more successful.
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