Increase Your Profits by 10X: 5 Key Metrics You Must Track

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maksudasm
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Increase Your Profits by 10X: 5 Key Metrics You Must Track

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After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!

In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.

What you get for free:


5 Key Metrics to Increase Profits by 220%


The Secret ROI Formula: Instant Advertising Efficiency Calculator


Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes

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Types of employee performance control
Control of work results
This type is characterized by only one control point: the moment of achieving the goal. All work is performed by the employee independently.

Outcome control has both great benefits and serious risks.

Advantages:

The manager saves marketing with stockholder database his time;

Employees develop independence and a sense of responsibility;

Good motivation for staff (if people are ready for this type of control).

Risks:

If there is no clear formulation of the task or the employee misunderstood it, then the expected result will not be achieved.

For example, a manager sets a task: "to attract clients of company N". An employee spends a lot of time, effort and nerves, performing the assigned task, significantly expanding the client base. But... the clients turned out to be unprofitable. As a result, the company's profit will be much lower than planned and desired.

The task may not be completed in the required volume or quality. The risk is associated with the fact that the employee may not have sufficient professional skills, have weak motivation, or simply be an undisciplined and dependent person.

To sum up, we can say that the organization and control of employees' work depends on the specifics of the tasks being implemented. Control of the work result is well suited for solving tasks that require little time for full implementation.

When using this type of control, it is worth paying attention to the professional and personal qualities of the employee: he must be interested in the result, responsible, proactive and independent. The employee should not be afraid to ask the management for advice if he has any questions or needs additional data.

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Control of previously completed work
Control of the work result will be associated with fewer risks if preliminary control is carried out on the way to achieving the goal. Practical experience shows that it is better to control the work that has been done beforehand at the final stage of its implementation (for example, when a third of the work remains to be done). Thus, the employee "goes" 2/3 of the way independently.

Naturally, such control over the work of employees cannot always be applied. For example, it is unlikely that someone will build 2/3 of a house in order to (if something is not liked) rebuild it later. But, in most cases, it justifies itself.

The advantages are the same as those inherent in monitoring the results of work: the employee has every opportunity to demonstrate his abilities, and the manager can show his trust and teach the employee to independently cope with solving production problems.

This type of control has some disadvantages, but fewer than the previous one. The manager needs more time to carry out control, but a mistake noticed in time is much easier to correct.

Thus, it is advisable to use control over previously completed work when solving short-term, already familiar tasks that allow for adjustment.

When choosing this type of control, one should focus not on what task needs to be implemented, but on who will do it, i.e. on the performer.

Control of work stages
This type of control can only be used if the tasks to be performed are divided into stages. At the end of each stage, the employees' work is controlled.

It is advisable to control the stages of work in the following cases:

The task is handled by a qualified employee who has extensive work experience, is proactive and independent, but he/she has to do something completely new, important and long-term. The use of this type of control can reduce the risk of non-fulfillment to a minimum.

A simple and short-term task is solved by an employee whose professionalism or personal qualities raise doubts or some concerns (for example, the employee is focused on the process rather than the result, is not attentive enough or needs constant support). The use of this type of control helps to identify problem areas in a timely manner, which in turn allows for timely adjustments.
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