The Metrics of Accelerated Business Growth
Want to know if your growth initiative is on track? Prove it.
In the intricate landscape of accelerated business growth, knowing whether your efforts are yielding tangible results is critical. If you are a middle-market Government Contracting (GovCon) firm recently acquired by a private equity firm striving for growth amidst changing market dynamics, how can you ensure your transformational journey is on course?
The right answer comes down to the right metrics, which are not just indicators but ignitors of growth and enhanced value creation.
The following metrics align with our proven Turnaround Model, which identifies the five key factors of maximum business growth and performance. While every client receives a customized dashboard for key metrics that align with their growth flight plan, these metrics can give increased insight into what is going wrong—and right—with companies, especially as they prepare for acquisition or work to grow after they are acquired.
People
By closely monitoring employee engagement and satisfaction, we ensure that the cornerstone of any successful transformation—the team on the ground—is motivated and committed.
How are we tracking employee engagement and satisfaction?
What is our current retention rate?
How much experience does our current team have?
What is factoring into these numbers?
Process
Efficient processes are the gears that drive operational excellence. Tracking cycle times and callback percentages can illuminate areas ripe for optimization.
What is the cycle time of key processes?
What is our callback percentage?
What is factoring into these metrics?
Technology
Leveraging technology isn’t just about utilizing tools; it’s about maximizing productivity. Understanding downtime and implementation challenges empowers smoother operations.
What is our current level of productivity?
How much technology downtime do we currently have?
What is the learning curve and implementation time for our tech stack?
How is technology impacting our process and people?
Leadership + Culture
Trust is the currency of transformation. Assessing data quality and innovation output fosters a culture of transparency and progress.
How would we rate our data quality and trustworthiness? Would a third party agree?
How confident is our leadership in leading growth initiatives?
What is our current profitability across all major products and services?
Do our people, customers, and shareholders agree?
What is our Innovation performance (patent output)?
Customers + Shareholders
Ultimately, it’s about delivering value. Monitoring EBITDA, customer satisfaction, and retention rates ensures alignment with stakeholders’ expectations.
What is our current EBITDA?
What is our current profit margin? Growth ratio?
What is our current customer satisfaction rating (NPS, etc.)?
What is the current customer retention percentage?
What is our current Customer Lifetime Value?
In addition to identifying the key metrics to track, it’s also important to understand your current company baselines, how your current metrics are impacting your current productivity and profitability, and your desired targets and goals for each as they align with your primary growth vision.
The role of a "transformation dashboard" is to track progress, create visibility, and maintain accountability. We use this dashboard as less of a “report card” and more of a reporting tool—it allows us to see very quickly where we are losing and gaining momentum, which allows us to be agile in our response and stronger in our decision-making.
In the quest for accelerated business growth, metrics aren’t just numbers; they’re the compass guiding your journey. With a finely tuned transformation dashboard, GovCon businesses (and beyond!) can navigate complexities with clarity and confidence. It’s not merely about tracking progress; it’s about shaping it. Real, measurable results aren’t just a destination—they’re the essence of sustainable success.
Author Bio
In her 30+ year career as a transformation executive, Jenevieve Creary has earned a reputation for accelerating positive, palpable business growth and creating sustainable value for organizations in GovCon and beyond. Ready to elevate and accelerate your results? Click here to schedule a consultation.