BRX Pro Tip: Understand the Metrics That Matter
Stone Payton: [00:00:00] Welcome back to Business RadioX Pro Tips. Stone Payton and Lee Kantor here with you. Lee, you told me some years ago, just because you can count something doesn’t mean that it counts. Talk about that a little bit.
Lee Kantor: [00:00:14] Yeah. Understanding the metrics that matter in your business is critical for your success. And even more critical is, once you understand the metrics that matter, ignore everything else. Don’t get distracted by other metrics that other people think are important, because if they’re not important to your business, you shouldn’t be focusing in on them.
Lee Kantor: [00:00:34] And sadly, the way that human behavior is, just because something’s easy to count doesn’t mean, like you said, that we should be counting it or even caring about it. And that’s one of the mistakes a lot of business people make, just because they can count something they think it’s important and it just could be easy to count. It may not be important at all.
Lee Kantor: [00:00:54] So, like in our business, the metric that matters is building relationships, and we do that primarily by inviting guests on shows. So, how many people we’re inviting on a show, that’s important to count. How many people that are coming on a show, that’s important to count. How many people that are meeting with us after the show to work together, that’s important to us. So, all of our metrics that are important involve guests and how the relationship is growing from the time we met them.
Lee Kantor: [00:01:23] So, we want to be counting what’s our database of potential guests, what’s our database of existing guests, and guests that we’ve had follow up meetings with. Those are the lists that our business tells us that if those lists are growing, then our business is pretty likely growing as well. If our business is struggling, we can usually point to the fact that we’ve been either inviting the wrong people on the show or we haven’t been following up effectively enough with the people that have been on the show.
