First thought, “the most important ingredient in any recipe is the one you forgot to put in!” - Strategy and the Fat Smoker; Doing What’s Obvious But Not Easy is a book written by David H. Maister.
Second thought, “#prodmgmt is such a metrics based role – counting, comparing, analyzing for trends and optimizations.” – Me!
Why these two thoughts? I was reading an article from The McKinsey Quarterly, Strategic Planning: Three Tips for 2009, and the second tip was intensify monitoring. It suggests the development of plans to monitor the performance of suppliers, customers and competitors. Early intelligence helps you plan or react to change (that will happen).
How is the first thought relevant? If you are not watching it, there is a good chance that it is the most important metric you are not watching.
I know this is not for everyone (eventually it will be), but I think revenue is the the strongest metric you can track.
What are you monitoring today and how?
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