Mike Andes (speaker) argues that to achieve rapid growth, outsized returns, and higher profitability than competitors, businesses must take on more risk and—critically—track key performance metrics. He warns that owners who do not monitor profitability, close ratio (percentage of estimates won), and similar sales metrics are "flying blind," which impedes scaling and competitive advantage.
If you're going to want to grow your business fast, if you're going to have a massive impact, if you're going to have outsized returns, if you're going to have massive amounts of profitability and a business that generates massive amounts of profits in above that of your competition, you're going to have to have more risk. And so when I talk to business owners that are starting to grow and scale their company, I get very worried when they're not tracking their profitability, when they're not tracking their close ratio, what percentage of their estimates are being won. When you're not tracking these key metrics, you literally are flying blind.
