I was talking with a friend recently about business metrics.
She was asking for a few metrics from my businesses to feature in an upcoming marketing project. Instead of going the normal route, I gave her some unsexy ones.
There was a time where I would've gone straight for the dollars-and-cents metrics, pulled up a balance sheet, and shown off top-line revenue growth. You know, the “sexy” business metrics.
But, over the years, the “unsexy” metrics have become much more meaningful to me.
Here's a portion of what I told her:
- Replaced a team of 10 part-time and full-time staff members with two virtual assistants thanks to a handful of documented procedures and some automation software.
- Eliminated over $500 per month in unnecessary subscriptions, tools, and applications.
- Went from working 60 hours/week in my agency to less than 10 — mostly because of the automation and efficiency of slimming our team down and equipping team members to run it.
- I'm home to see the kids off to school and I'm home most days they get back.
- Reduced our services from 47 (I actually counted) down to 2: social ads management + consulting.
Don't get me wrong. Revenue's important.
But some years we don't even hit 7 figures.
Not even close.
Revenue — the “sexy” metric many entrepreneurs love to flaunt — is not that important if everything else falls by the wayside.
Not every business is the same, either. Revenue may be much higher on someone else's list out of necessity, and there's nothing wrong with that.
But when you look at your own business, make sure you have just as many (or more) “unsexy” metrics you can use to evaluate your success.