Many metrics companies use to track and analyze their performance are like looking in a rearview mirror: They’re focused on past performance and where you’ve been rather than where you’re going. While this can help leaders make better-informed decisions, it’s also essential to develop forward-looking metrics that can guide needed strategy updates. After all, if you have no idea where you’re going, you may not be pleased with the ultimate destination.
There are many insightful leading indicators that businesses can leverage to help them get a more well-rounded perspective. Here, 11 members of Business Journals Leadership Trust share forward-looking metrics they track and find especially valuable.
1. New business
We are very proud of our repeat clients; however, a forward-looking metric that we value is new business. Most of our new clients come to us via referrals. It’s a tremendous testament to our work to know former and existing clients feel so good about our work that they recommend us to new clients. – Aviva Ajmera, SoLVE KC