Welcome to our first post in our new series You, CEO. Be sure to check out the introduction here if you haven’t already.
Companies generally don’t make decisions based on emotions, feelings, guesses, or blind chance. But if you are honest, those factors often play a role in the decisions you make in your own life.
If we want to copy the success of top CEOs, let’s start by learning to copy their decision-making strategies. One of the best decision-making tools is data analysis. It’s a huge and growing industry that is changing the business world. It can have an equally powerful impact on our lives as well.
However, before we can analyze data, we need to have data. That’s today’s topic – getting the right data.
You Get What You Measure
You get what you measure. This is one of the immutable laws of business, and it can be applied to your personal life as well. Whatever you choose to measure, you will begin to focus on it and improve it. Likewise, what you decline to measure generally gets overlooked and rarely sees improvement.
So step 1 is simply to choose what areas of your life you want to improve. Step 2 then is to choose a specific way to measure progress in that area. For example, if I want to save money, I should start tracking how much money I have saved at the end of each week. If I want to get stronger, I should start tracking how many pushups I do each day. If I want to become more intelligent, I could start tracking how many self-improvement books I read each month.
Now step 2 can be easily messed up, so be careful. Remember we said, you get what you measure. If for example you only track how many pushups you do, you may wind up focusing on pushups to the exclusion of other exercises. Then you aren’t really getting stronger overall; you are just getting better at a specific exercise. So choose carefully and choose multiple measurements to get better overall progress.
I use an Excel spreadsheet to measure my progress across several categories. You can do it digitally like me or write it out by hand as well. Choose the method most comfortable to you and stick to it. It may feel hard to at first, but I promise you can develop the habit within a month if you tough out the first few weeks.
Then, just as a CEO has piles of data to look at when making decisions, you too will have the data you need to stay motivated, track progress, and make well-informed decisions about your life. We’ll build on this idea in our next post in the series CEO, You. See you soon.
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