The Role of Development Metrics in Ridding off Stagnation

No entrepreneur or proprietor would even want his business to stagnate. Sadly, there will always come a time when this happens. And when this happens, there is always that chance that things would be even more stagnant than how they seem to be. Naturally, you would want for things to change. But just what changes should you implement then? How do you decide which portion of the enterprise needs revamping? These questions and more can be answered through the use of development metrics – more importantly, through the incorporation of the business development scorecard.

When dealing with metrics, you should always keep in mind that the things that you cannot measure can never be managed at its optimum level. This is a particular mantra that managers of just about any company would adhere to. Logically speaking, just how can you manage something when you do not have quantifiable, statistical figures to turn to? Without these figures, you would just be relying on your own observations – which should just be termed assumptions because these would still boil down to subjectivity – and this is a mistake businesses cannot afford to commit. Measurement is indeed a must here, regardless of the changes that you want to implement in your existing system. Do not worry if you are not too sure how to go about the metrics that you need to implement here. If you do not have any inkling what sort of metrics to use, you can always turn to the reliable information superhighway for valuable ideas and suggestions.

One of the metrics that you should consider is client-relationship management. Under this metric, you will find sub-categories to look into. One of these pertains to the management fees outside personal bills. These are the fees paid by the management for the goal of development and client retention that go beyond personal fee benefits. Apart from that are the management fees going beyond personal bills as well as the workgroup. These are the fees that contribute to clientele-management relationship that go beyond the workgroup. Of course, these are still under supervision. The next are the management fees going beyond personal bills, the direct workgroup, and the practice group. Relationship management is hugely valued here, with precise attention on the spread of fees and services.

Another metric that all business should definitely consider is client development in the new business scenario. Companies have to study their new clients – the sourced and the introduced. Fee values for that present year, expected fees over the next couple of years, and potential fees – all of these have to be determined when it comes to dealing with the new business scenario. Also, with new clients, you should expect new problems and issues to deal with as well, and this is the role of the second metric under the new business scenario. These are the fees that have not been sourced from previous clients so this would definitely be a whole new scenario and companies should be ready to deal with them efficiently.

Measuring win-backs is also a must in development metrics. Because of the revamping of your system, you will surely win back some tasks that your key competitors have relinquished to you. Bear in mind all of these when you attempt to rehash your existing system and you are sure to get rid of stagnation just fine.