August 31, 2023 | 01 min read
Is average the formula for failure? Nobody wants to be it, but while tackling the multitude of tasks and problems in life, being average becomes the accepted norm.
Everyday, while monitoring the calories in every bite of food you eat, counting the steps you take, tracking how many sales you made, or even the number of mails you read, averaging becomes an easy pill to swallow to feel happy and content.
But when you reflect on it, you’ll see that simply averaging doesn’t help anywhere in life or in business. If you kill a man, throw a stone at a dog and tell a lie, averaging that won’t make all crimes equal.
A sales leader for example has to do the following tasks for the week:
TASK 1: Visit a new market
TASK 2: Check weekly sales report of ten regions
TASK 3: Interview twenty candidates
TASK 4: Plan thirty schemes for next month
TASK 5: Review the sales performance of all forty sales reps
TASK 6: Analyze the potential of fifty SKUs
By the end of the day on Monday, he took five interviews and created ten schemes.
On Tuesday, he went on market visit for the day and finished task 1.
On Wednesday, he reviewed the performance of eight sales reps and right when he got back to creating schemes, it was already EOD.
On Thursday , he created ten more schemes and took five more interviews.
And by Friday, he was able to create all the schemes and interview six more from the remaining candidates.
So, when he averaged the number of tasks he has successfully completed, it showed only two. And even after that, he failed to close the most important tasks that directly affected the profitability of the business.
With no on-time monitoring of weekly sales reports, salesmen performance and SKUs, the company lost a week’s opportunity to fix problems and seize opportunities.
The secret to win here is to keep moving your average, exponentially.
An exponential moving average helps give weightage to different components based on their importance. Basically, it sets the priorities straight.
In this case, the mistake of the sales leader was to give 100% weightage to each task, whereas he should have done this instead:
30% importance – TASK 1: Visit a new market
80% importance – TASK 2: Analyze weekly sales report of ten regions
30% importance – TASK 3: Interview twenty candidates
60% importance – TASK 4: Plan thirty schemes for next month
100% importance – TASK 5: Review the sales performance of all forty sales reps
100% importance – TASK 6: Analyze the potential of fifty SKUs
So on Friday, even if he had only completed two tasks, the impact of it would’ve been much greater.
But if you sit with and start adding weightage to each task everyday, too much time will be wasted and too little would be accomplished. That’s why there is retail intelligence.
So your biggest tasks can become your biggest aids to success.
Retail intelligence does the dirty work and shows you the performance of your entire team in a snapshot on your personalized Manager’s app. Your SKUs stay under real-time monitoring, telling you each moment how they are performing. Sales reports are always there at your desk, on your phone – analyzed and updated with insights. And no matter how many schemes, every scheme can get created in minutes.
So, no matter how big is your task list, retail intelligence gets you covered to ensure you are always at the peak of your productivity.
Quit being an average. Rather, let the fear of being average motivate you to reach new heights of success.
Bring your task list, and see how retail intelligence does it all and more. Tap on the button below or contact us to schedule a discussion.