Join 📚 Felicity's Weekly Book Highlights
A batch of the best highlights from what Felicity's read, .
To bridge this gap, we need to shift our focus. Yes, revenue and profit matter, but they're the result of customer behavior, not the cause. Instead of fixating solely on financial metrics, we need to ask:
1. What are our customers doing (or not doing) today?
2. What’s stopping them from being more successful and/or satisfied?
3. How might we deliver more/better/different value to drive the behaviors we want to see?
This approach requires a delicate balance. We can't ignore financial realities, but we also can't afford to sacrifice customer value in pursuit of short-term gains. Instead, we need to find creative ways to align customer needs with business goals.
Are Your C-Suite Metrics Ignoring What Customers Really Want?
Jeff Gothelf
Alistair Croll and Benjamin Yoskovitz say, in their excellent book Lean Analytics: “A good metric is comparative. Being able to compare a metric to other time periods, groups of users, or competitors helps you understand which way things are moving. Increased conversion from last week” is more meaningful than “2% conversion.” A good metric is understandable. If people can’t remember it and discuss it, it’s much harder to turn a change in the data into a change in the culture. A good metric is a ratio or a rate. Accountants and financial analysts have several ratios they look at to understand, at a glance, the fundamental health of a company. You need some, too… . A good metric changes the way you behave. This is by far the most important criterion for a metric: what will you do differently based on changes in the metric?”
Radical Focus SECOND EDITION
Christina Wodtke
If you fail to identify and analyze the obstacles, you don’t have a strategy. Instead, you have either a stretch goal, a budget, or a list of things you wish would happen.
Good Strategy/Bad Strategy
Richard Rumelt
...catch up on these, and many more highlights
Readwise