Perhaps we can consider a better reference point for success?

I still find it interesting that many of us continue to measure success from an insular reference point rather than a holistic approach by taking in and considering external data and/or information within the business arena that one may operate in.

So often we all get caught up on a macro/micro level of measurement being a month/quarter/ year-on-year result; or a segmented business channel result by the same year-to-date reference.

Now to clarify, I'm not saying that having this type of reference point is redundant or for that matter void of any benefit. This, shall we say old school model of applying a past results reference, gives us a quick snapshot to generally base our fiscal/units gain or for that matter loss compared to the same time period for the month/years prior.

It's great to know that for the month of, let's say May, we are 22% up compared to the prior year; or for that matter 16% up for Q2. But in saying this what if the business arena that we played in was 30% up on the prior fiscal quarter? What if "reported" sales figures available in the public domain showed that our industry was growing faster then what as a business we were achieving? Would we still feel as content with our results?

Perhaps a better way to set reference points is to take what market data is available and consider the overall business objectives for the forthcoming timeline. For that matter engage the directors and or CEO at a macro level on what they would like to see in an ideal end of fiscal year.

When you take the time to examine the market holistically you can start to get a better understanding of what may be a better reference point for success. In addition looking externally will also help to better understand the opportunities and threats that will either help, or for that matter hinder you in achieving a desired outcome.

After all we all look forward to better times ahead!

Wayne~