Metrics are the foundation of effective execution, providing measurable targets and clear data to track progress toward your goals.
When do I set my Metric targets?
Metric targets should be established during your quarterly planning sessions with your team. Targets should always be finalized before the quarter begins so everyone knows what success looks like and what was originally agreed upon.
What makes a good Metric?
A good metric is a numerical goal that tracks progress toward a specific target. It should have a clear quarterly numerical target and can be updated regularly with data. Metrics are objective and measurable, providing real-time insights into performance.
For instance, a good metric could be "Total Revenue, New Subscriptions, or Operating Cost". Metrics are essential for quantifying success and identifying whether a team or individual is on track to meet their goals.
How to create a Metric
Go to the Metrics page - next click 'Add Metric' in the top right corner.
From the pop-up window 'Add Metric', you will need to select the following:
- Add a name - Title of Metric (include in the title, if it is a Percentage or Hours for example, so the team knows what the numbers mean when reviewing).
- Who owns the Metric.
- Decide if this metric is a Company metric or a Individual metric. Note: Company metrics have yellow stars and show on the One Page Plan and Daily Dashboard.
- Select the frequency that the actuals will be entered. For example, if actuals are to be entered Weekly, select Weekly, so it shows Weekly on your Daily Dashboard where you can update actuals.
- Decide Type of metric, will it be: Count, Measurement or a Flat metric.
- Target - does not need be added now. Note: The target can be added once you've saved the metric.
Once you have filled-in the information for your metric, click 'Add' in bottom right of the window.
Types of Metrics
Count
Count metrics add up actual values from each interval starting from 0 to reach a quarterly target.
Measurement
Measurement Metric the target progresses from a start target value to the period target value. Measurement actuals do not add up totals between intervals. You will need to add the start target and target for the quarter to complete this metric set-up.
Flat
Flat Metric the target is constant value, where progression is not the desired outcome. Instead the Metric aims to stay at a constant target value throughout the period. This Metric type works well in tracking survey results, for example Net Promoter Scores (NPS) or metrics that are a percentage.
