Day 26: Leads & Lags

Day 26: Leads & Lags

Today I went for a run. This is not normal for me, but it felt good so I started thinking about how to do it more often.


Then (of course) I thought about the process that lead me to actually start running.


Am I running a marathon soon? No.

Did I want to run today? Not really

Should I run regularly? Probably

Do I consider myself a 'runner'? No.


So what made today different?


There were a few key factors in the process that lead me to running a modest and slow three miles today.


  1. I told myself that I was going to go for a run today -- last night
  2. I put out my shoes and socks and running shorts.
  3. I woke up and looked at listed items, and remembered that I SAID I would do it.


I didn't promise myself any length of time, or distance. I just said I was going to do it. Out loud.


And even though there's nobody here to see me chicken out, and the stakes were pretty low to ditch, I did it.

In my video today I was talking about how this process works.

When building a business, bar, or brand, take a moment to think about lead indicators, vs. lag indicators.


To sum it up quickly - Leading indicators are the signals you get when running a process. Lagging indicators are the results of the process.


Leading indicators for a brand:


  • How many accounts you visit
  • How many times you sample someone
  • How many people you meet


Results (Lagging Indicators):


  • More Sales


Leading Indicators for a Bar:


  • Onboarding Schedule for New Hires
  • Continuing Education for Staff
  • Enforced Time Off
  • Benefits


Results (Lagging Indicators):


  • Positive Reviews --> More reservations


Outputs are a multiple of quality inputs.


In other words...EVERYTHING IS A PROCESS

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