Business Tracking Systems help managers break company records. The saying goes like this: "if you measure something, it will improve." This is easy to say, but how do you measure something and what do you measure? Managers need to be able to develop effective business tracking systems that answer these questions.
First, what is a business tracking system? This is a systematic measuring of primary and secondary indicators of business growth. This can be done with weekly and monthly reports of many different types from informal or formal reports, to dashboard charts or graphs. The way I prefer to track these indicators uses Microsoft Excel.
Excel has add-ins that allow you to use extensive spreadsheets to build charts of graphs that can be easily formatted and maintained by filling in cells at any pre-determined interval. Each new cell creates a new graph plot. One of my current chart of graphs consists of more than 50 primary and secondary indicators. An example of a primary indicator may be Total Sales, whereas a secondary indicator may be Sales per Day or Sales per Customer or Sales From a Particular Item or Service.
When these graphs are on an up-trend, it's good and you need to find out why and work to improve on those successes. When a graph is on a down-trend, you should find out why, identify problems and solve them, and find improvements that turn the graph around. Tracking these indicators using graphs gives the manager a "dashboard" that makes managing the business more efficient and helps to focus the manager on top priorities as well as areas that require further or new training.
What you measure, will improve, but what you track using business tracking systems will help you break records. If you don't have an effective business tracking system in place already, get it done right away. For more help setting up your company's business tracking system, feel free to email me a chelmsmba@aol.com. I have created systems that track more than 200 business indicators. I can help you too.
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