In the dynamic landscape of business management, certain principles stand out as game-changers. We’re thrilled to share an eye-opening excerpt from Gavin’s book, “Know Your Numbers! It’s The Heartbeat of Your Business,” that sheds light on a fundamental concept: “You Can’t Fix What You Don’t Measure.”
“It’s easy to feel a little fearful at the prospect of putting your numbers out on display for all to see. You don’t want to share the numbers because that puts you in a very vulnerable position. You might feel worried you are putting yourself at risk by doing so. But what is at risk, really?
You probably think that if you share your numbers, there will be backlash from your team because they’ll see how much you’re making compared to them. But by not sharing your numbers, your team can’t fully understand their roles and accountabilities.
Your team will come in to work and know they have a few things to do, but they won’t have a strong feeling of accountability to what the department needs. They won’t feel any ownership over what they need to produce each and every day, week and month that will contribute towards the strength of the heartbeat of the business.
Without accountability, your team will also try to do too many things. They’re working in a big grey area with no structure. This can lead to non-compliance because no one knows what their true roles are.
They don’t really know what they are truly accountable for and you keep mixing it up on them. It’s challenging to do your job well when you don’t have any clarity on your role.
Worse, your reluctance to share your numbers gives your team no opportunity to buy into your vision, because no one feels connected. Now you’re just trapping yourself in a self-fulfilling prophecy; the team doesn’t buy in, and you’re afraid they’ll perceive you as the rich owner anyway, so you don’t share the numbers that might get them to buy in.
And around and around you go.
Your team might be under the assumption that you are doing really well. If they assume the business is going well, they might start thinking they don’t have to put as much energy into their work. With lack of clarity comes a diminished sense of accountability.
If you have no buy-in from the team, no alignment and no alertness around your numbers, then you can’t even try to improve the team culture or the business itself. This is now a reflection of your leadership. Do you believe that only you need to know the numbers and no one else on the team? If you believe this, where else are you keeping your team in the dark?
You also have contractual obligations to your work providers. Some providers work to average repair costs. If you are not looking at your dashboard every day, you might be eroding your margins.
What you can’t measure, you can’t fix. And in this case, it’s not just measuring but having transparency around your measurements.“
Gavin’s insight invites us to reevaluate the fears that often hold us back from sharing vital information. Here are some key takeaways:
Accountability and Understanding: By sharing your numbers, you empower your team to fully understand their roles and responsibilities. Ownership over daily, weekly, and monthly tasks contributes to the strength of your business’s hearbeat,
Clarity and Structure: Without transparency, a grey area emerges, leading to a lack of clarity in roles and potential non-compliance. A defined structure nurtures accountability and efficiency.
Alignment and Vision: Transparency isn’t just about numbers; it’s about sharing your vision. Your team’s buy-in hinges on their connection to the bigger picture.
Team Energy and Performance: Lack of clarity can lead to a decreased sense of accountability, affecting team energy and overall performance.
Cultural Improvement: Transparent numbers are a reflection of your leadership. When your team aligns with your vision, the door to cultural improvement swings open.
Business Alignment: Transparent measurements also align with contractual obligations and protect your margins, ensuring the business’s health and growth.
Remember, “What you can’t measure, you can’t fix.” Transparency isn’t just about numbers; it’s about fostering a culture of openness, accountability, and growth.
To delve deeper into Gavin’s insights and explore how transparency can transform your business, we encourage you to explore his book, “Know Your Numbers! It’s The Heartbeat of Your Business.”
Are you ready to empower your team, drive cultural enhancement, and ensure the health of your business? Share your numbers and watch the transformation unfold.