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Contractor Evolution
174. Turn Your LAGGING Indicators into LEADING Indicators - Brayden Russell
Aug 21, 2024
Brayden Russell, a business coach specializing in transforming lagging indicators to leading indicators, shares valuable insights on performance metrics. He emphasizes the need for actionable goals that drive team success instead of merely tracking results after the fact. The discussion includes strategies for enhancing operational efficiency and fostering team collaboration. Russell also recounts personal experiences that highlight the shift from traditional KPIs to a more proactive approach, ultimately leading to improved business outcomes.
46:31
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Quick takeaways
- Transforming lagging indicators into leading indicators empowers teams to focus on actionable steps that drive desired results.
- Engaging team members in discussions about leading indicators fosters collaboration, ownership, and investment in the business's overall success.
Deep dives
Understanding Lagging and Leading Indicators
Lagging indicators are output-oriented metrics that reflect past performance, such as gross profit and total sales figures. They illustrate whether a business has achieved its goals after the fact but do not provide insight into the actions that led to those results. In contrast, leading indicators are input-focused and help project future results, guiding businesses towards better performance by emphasizing specific actions that can influence lagging metrics. For example, instead of simply telling project managers to increase gross profit, focusing on actionable steps, like keeping material expenses below a certain percentage, allows teams to understand what they need to do to drive desired outcomes.
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