SET TIMEBOUND BENCHMARKS, WORK, THEN MEASURE!

Last weekend I volunteered for Live Your Dreams Africa 7 @lydafrica and it was the best time ever. Pretty much why you didn’t get a happy New Month message from me.

So, here is me wishing you a prosperous June.

I worked directly with the amazing @nnanke_essien and it was really fun working with her (story for another post). At intervals, we would pause to talk about particular items that caught our attention during panel discussion or keynote speech.

One of those time was when the keynote speaker Hebert Wigwe, CEO Access Bank opined that you should know when to quit a non profiting venture.
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My question was simple, “how do you then strike a balance between knowing when to quit a failing business and not quitting too early?”
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Nnanke’ s answer was simpler yet apt. To rephrase her statement, she said “Know the indices with which you measure business growth. Sometimes it has nothing to do with money. If you hit your benchmark for which you measure growth, you’re good even if you’re not making as much money”.

In other words, you need to constantly measure your business growth or otherwise using the benchmark you have clearly stated. Your benchmark could in some cases have nothing to do with money, it could be post engagement, influence, website visits, number of prospective customer etc. But when you hit those benchmark, you’re about sure your business is on the right track and growing.

So, you want to know whether your business is growing or not? Set specific timebound benchmarks, work at it, then MEASURE.

Can we now say thank you to Nnanke for allowing me pick her brain?
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Peace, Love, and Cold Zobo.
Goodmorning.

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