How To Measure Your Infopreneuring Success

How to measure my infopreneuring success? Some of you can answer the question promptly. Infopreneuring is just like entrepreneuring. The obvious one type of success measurement is the amount of money earned from the activity. But, how much money? How much cost has been involved to get that result? How much profit exactly? If you believe that success indeed is a journey, you may need other tools to measure it.

Before you go further, you should understand this. Infopreneuring is a kind of business like any other business. Unless you're focusing on the goal of your business, you'll end up in failure and misery.

Ten years ago, you might be familiar with the phrase "Show me the money!". Now, a variation of that term "Show me the data!" rings in conference rooms throughout the country

If you can’t measure it, you can’t manage it. Companies may be able to survive for a while if managers aren’t using data to make decisions, but they will eventually see their demise; likely sooner than later. Those companies to benchmark off are the ones who are not only surviving, but thriving! Pick your favorite phrase: TQM, Process Management, Quality Circles, Improvement Teams, Standards and Measurement departments or any other title you prefer. The function is the same. Look at baseline data – percentages, dollars, hours, quantities – and continuously monitor the performance.

There should not be any task you perform that cannot be measured. If you can’t measure it, you can’t manage it. If you can't manage it, how will you expect success?Take a fast food restaurant for example. There are a plethora of areas that can be measured such as days without an accident, customer wait time in line, length of time burgers are in the warmer, amount of money off in the drawers, customer complaints, etc. Graph it out and keep a spread sheet of your figures. Clearly you’re looking for improvement. If there was a decline, brainstorm, find the root cause and then fix the problem.

The process is the same no matter what industry you’re managing. Take a look at all the steps involved in day to day operations. Assign values to the process. Set goals. Review the results on a daily, weekly or monthly basis. Remember, if you can’t measure it, you can’t manage it. Charts and graphs are an excellent tool to visually remind you of where you have been and where you plan to go.

By: Denver Moralez
Credit:www.superfeature.com