The purpose of a benchmark is to not go outside of the limit. The purpose of a baseline is to change the mindset considerably.
Brief summary of show:
What’s the difference between benchmarks and baselines when it comes to measuring your firm’s KPIs?
Often, we set revenue and project-based goals to achieve on a quarterly or annual basis, without having a clear understanding of our KPIs, how to measure them, or how to shift them if they’re no longer aligned.
We dive into all things KPIs with Jeff Smith in this episode. Jeff is affectionately known as “The KPI Guy” as he’s written 7 international #1 best-selling books on KPI and Business Management. He is on record as the most successful author in history on the subject.
Throughout his career, he’s worked with, and is trusted by Royal families, Governments of different countries and Senior Executives in the largest companies in the world.
We talk about:
- What KPIs are and why we use them
- How to decide which KPIs you should focus on in your firm
- The difference between a baseline and a benchmark and how to measure it within your firm
- His recommendations on which KPIs lawyers should be using to measure
- Trust as a key component of achieving KPIs
Jeff Smith's Book
From the publisher:
We all know the rules for success in our business or professions, yet we also know that these rules—paradigms—can change at any time. What Joel Barker does in Paradigms: The Business of Discovering the Future is explain how to spot paradigm shifts, how they unfold, and how to profit from them. Through the power of this method—paradigm spotting—you can:
- Find the people in your organization most likely to spot a new trend
- Help your key people adapt when a massive change is occurring
- Learn to effectively grapple with your “intractable problems” and improve your results incalculably.
In addition, Paradigms is full of concrete examples of paradigm shifts and predictions for the future, and contains a new introduction detailing recent developments and pointing out areas to watch tor paradigm shifts.
Paradigms by Joel Arthur Barker
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