Measuring Success

By Kylie Frandsen

How should we measure success? There’s, of course, the traditional and obvious measurement that’s vital to most organizations: cashflow. We measure in dollar signs. Many times, we not only want to but have to. Without money, it’s hard to go anywhere. It can be equally important, however, to also measure success in other terms—especially those that align with our visions of what kind of organization we want to be, lead, and take part in.

Time is an obvious one because it’s so recognizably tied to money. Ideally, the more (effective) time we put in, the more money we get out. But what about other signs of growth? What about having a positive team culture or being an organization that people enjoy working for? Or maybe another step of success could be in consistent, recognizable, and reliable branding. Or we could think about what it means to be an organization that values its team members’ drive to take initiative, ability to work as a team, and certifications or continued learning?

Often, these measurements are the keys to success. While it can be tempting to focus all of our attention on quantitative measurements (you know, those dollar signs), paying attention to the qualitative side (what makes our efforts of effective—and hopefully also excellent—quality) can be the difference maker in an organization’s success in both maturity and cashflow.

Qualitative growth leads to quantitative benefits. That might seem almost obvious in some cases—for example, I know very few people who buy uncomfortable, thin toilet paper for their home when they can afford to buy a higher quality at a higher price. Yet it can be difficult, from the other side (the uncomfortable toilet paper company’s side, in this scenario) to prioritize improving quality when we see that the process for improvement will cost the organization cashflow in the here-and-now.

Of course, risk assessment is crucial in these scenarios because, again, it’s hard to go anywhere without money. But it can be difficult to assess qualitative benefits on their own, let alone to understand how they will affect cashflow in a longer term. That’s part of why it’s important to find quantitative patterns for those qualitative benefits. Looking to create a stronger brand in order to pull in more consistent customers who trust your business? Consider measuring your social media and website statistics to know what’s working and what isn’t. In order to assess and minimize the long-term risks and temporary costs of a qualitative improvement, you need to be able to track it.

That’s, of course, where partnering with an experienced business management consulting team can go a long way! 😉 At DuraBante, we believe in the power of qualitative changes to bring about success not only for our quantitative (dollar sign) goals, but also for the visions we set out for our organizations to become!

If you’re looking for help measuring, extending, and trusting your growth, reach out to us at DuraBante.com/Contact. We’d be so excited to partner with you.