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On the Sept. 12 episode of my Lykken on Lending podcast, we had the opportunity to interview Keith Polaski of Radius Financial Group. During our conversation, we talked about how Radius uses various metrics to track the effectiveness and efficiency of their employees. According to Keith, it's part of their organization philosophy to be an intelligent company. What does it mean to be an intelligent company?
Every day in our organizations, decisions are made that impact the business in different ways. Most of the time, these decisions are made without much thought. We simply do things the way they've always been done or go with our best guess on handling any new issues we encounter. We may or may not have success in such activity, but here's the thing: if we do, it's because we're lucky!
Being an intelligent company means measuring performance. It means keeping track of our activities and the results those activities generate. If we simply go with our gut on everything, we might be doing things right and we might not—but we don't really know! Using data to monitor performance quantitatively enables us to know for sure what's working and what isn't. It shines a light on our business, so we don't have to stumble around in the dark. How are you using metrics and data to help your company become more intelligent?
David Lykken, a 43-year veteran of the mortgage industry, is president of Transformational Mortgage Solutions (TMS), a management consulting firm that provides transformative business strategies to owners and “C-Level” executives via consulting, executive coaching and various communications strategies. He is a frequent guest on FOX Business News and hosts his own weekly podcast called “Lykken On Lending” heard Monday’s at 1:00 p.m. ET at LykkenOnLending.com. David’s phone number is (512) 759-0999 and his e-mail is David@TMS-Advisors.com.