Before you think I’m crazy, I ask you a simple question:
‘How are you defining and measuring ROI’?
Return on investment is a very common thing for businesses to say. Mentioning it with emphasis makes meetings feel more important. It’s a great bullet point on a presentation. It’s a sure winner in buzz word bingo.
Let me explain this way…the world is changing. What your business measured in 20??, last year, last quarter, last month, last week and even yesterday quite possibly is irrelevant. An even more important concept than the last sentence is if you recognize this.
Do you ask the tough questions? One of the most important and powerful words you can ask is one of the simplest words: Why?
I had a fantastic conversation with a potential client this evening. A business owner was wanting help examining a new service offering for his business. What struck me as one of the most important parts of our conversation was that the business owner recognized that his business was changing and recognized what has been working in the past doesn’t necessarily work the same today.
This concept isn’t new. In fact, even poorly run businesses ask this question.
What is important is understanding that there are new ways to accomplish results. Currency is changing. What is measured must be questioned and potentially changed as well.
What do you measure? Have you asked why you measure it lately? Are there other ways to determine “success”? Do you understand what the definition of “success” really is?
This is concept is important and I would invite you to invest about 4 minutes and read more: The Business Model for Disruption