Plan, Measure, Adapt, Succeed
Any successful sports team, military unit, or business will point to planning, measuring, and adapting as reasons for their ability to execute.
Planning encompasses everything from estimating to selecting the right team to daily delegation. Think, think, think. Develop a plan: We can do “this” in this many hours, applying this method, with this group of people, with this equipment, for this rate, in order to make this much profit.
Measuring is then the meticulous analysis of all this. Is the method chosen working? Is the team operating at the desired level? Are we using the right equipment? Is our rate competitive and generating profits? Are we achieving our desired profitability margin?If not why not? Can we adapt to correct the outcome?
Adapting involves understanding what the measurements are saying and what we can do about them. This is a concrete action step. Realizing there is a problem, identifying exacting what that problem is, and how to correct it only take us so far. We must then execute. This may take more than one attempt. Find what works and implement it. Then measure again.
In today’s small business environment a company’s ability to plan, measure and adapt can be the difference between success and failure.