If you were stranded on a desert island and only had access to three key metrics to know if your firm is healthy, what would you want to see?
While there are several metrics that can tell you a lot about your firm’s overall health, we’ve zeroed in on three that make the biggest difference when it comes to firms succeeding and failing:
- The number of cases you’ve signed
You should know how many cases your firm signs on average. And if that number happened to vary while you’re stranded, that’s an indicator that something is happening in your intake department. This is a number that all firms should assign responsibility to a specific person to monitor daily.
- The number of demands you’ve mailed
If you know how many demands your firm mails on average, and the number starts to decline, you’ll know you’re having a pipeline issue. THAT’S a prompt to start asking questions.
- The number of fees in the bank
You also should know what your firm’s average deposits are. As with demands, if the number were to deviate from the average while you’re on that island, you would know to begin investigating what’s happening.
Numbers don’t lie, and neither do these key metrics. Knowing exactly where your firm stands in these metrics by checking them every week is essential for monitoring your firm’s pulse.
Got questions or want help checking your firm’s key metrics? We’re here to help you identify and correct any leaks that are costing you money (and maybe even help you fashion a bikini out of coconut shells). Don’t hesitate to reach out to your Brand Strategist today or email us at email@example.com.
We would love to hear from you… what are your three must know metrics?