This topic is extensive, and an entire course could be dedicated to it, but for now, I want to bring awareness to this process of thinking.
For many sales or business-oriented individuals, this should be common knowledge. However, going through this exercise will help your project operate more smoothly. Let’s go over some tools and ways of thinking that will help you reach your project goals.
Tracking Metrics for Project Progress
The first thing I want you to incorporate into your mindset and workflow is tracking metrics. You may not see its importance early in your project, but it will be critical if you want real leverage moving forward.
I used to focus more on doing tasks and the creative aspect of web design projects. However, I hit a major wall and realized that the market does not care about our years of experience, creativity, skills, or even our dedication. The reality is that clients and customers want results. Unless you want someone else to dictate your career and earnings, you need to start defining and tracking metrics now.
Some metrics even relate to personal finance, such as how much you need to earn, save, and invest to support your lifestyle. Many of us are undercharging and under-earning. Listing out every expense and future financial goal helps clarify the revenue required to sustain your life. Understanding these numbers shifts your perspective on low-paying job offers and rates.
If you're hiring people, consider their financial needs, too. This impacts roles, responsibilities, and operational costs like hiring writers, designers, and developers, or managing affiliate partnerships. These factors influence your margins, overhead costs, and project expenses, such as web hosting, software, and plugins.
Time is another resource that affects project feasibility. You probably have less time than you think. I will cover personal scheduling in another lesson, but you must factor in how these numbers drive your sales objectives, pricing, customer requirements, advertising budget, and conversion rate goals.
Understanding Costs and Revenue Needs
Everything in business has costs, whether it’s time or money. Without a clear understanding of personal and business financial needs, it’s difficult to be empathetic toward others in the same situation, which can cause friction in hiring and partnerships. For instance, it’s challenging to find skilled designers or developers in the U.S. for $15-$20 per hour if they can barely afford equipment or software.
On platforms like Craigslist, unrealistic job listings are common. While there are occasional great opportunities, only a small percentage of postings demonstrate a true awareness of these economic realities. Failing to plan your project metrics properly can lead to hiring unqualified help, wasted time, or even worse consequences.
Key Performance Indicators (KPIs)
Once you have a foundational awareness of financial and project metrics, you can define key performance indicators (KPIs) for different project stages and departments. I suggest using a worksheet to list the essential metrics for running your business. A KPI worksheet helps define project goals and track progress.
Each department should have its own KPIs to monitor. For instance, in my web design business, I could track:
- Revenue and gross profit
- Accounts receivable
- Active projects and income
- Subcontractor costs (previously)
- Sales commissions and overhead expenses
- Adjusted gross income and profit margins
- New business forecasts
Tracking Website & Marketing Metrics
For websites and online businesses, tracking traffic and marketing performance is crucial. Some key metrics include:
- Page views and email sign-ups
- Email list size and subscriber growth
- New and returning member sign-ups
- Paying vs. non-paying members
- A/B test results for sales letters
- App or website logins and engagement levels
- Top-performing content and traffic sources
- Site uptime, errors, and hosting reliability
Social media metrics such as follower counts, post engagement, and content shares should also be monitored. The same applies to YouTube, Instagram, and Twitter, where video views, shares, and interactions indicate audience engagement.
Keeping a centralized record of these metrics in a spreadsheet helps track progress over time. While data aggregators can automate this, manually tracking information early on helps develop a strong understanding of your project’s health.
Branding & User Engagement Considerations
Next, let’s discuss branding criteria. Establishing a clear brand identity means answering:
- What are you trying to establish with your brand?
- Who is your target audience?
- How does your website support these goals?
Consider branding elements such as:
- Visual identity (colors, typography, imagery)
- Messaging tone (formal vs. casual, premium vs. accessible)
- Content engagement strategies
- Trust-building elements
A structured approach to branding strengthens your connection with users and ensures consistency across marketing efforts.
Feature Prioritization with a Red Route Document
When brainstorming website features, consider a Red Route document to prioritize functionality. This method helps determine:
- How many users need a feature (Few, Some, Most, or All)
- How often they use it (Rarely, Occasionally, Frequently, Always)
Prioritizing essential features prevents unnecessary complexity and scope creep. Agile methodologies help manage project iterations efficiently.
Conclusion
Success in business and projects is about setting clear goals, tracking the right metrics, and making data-driven decisions. Whether you’re launching a website, running a business, or managing clients, understanding these principles ensures sustainability and profitability.
Key takeaways:
- Define success through clear goals and KPIs
- Track financial and project metrics for better decision-making
- Prioritize features using Red Route documents
- Build a strong brand identity for user engagement
- Adopt Agile methods for efficient project execution
By following these strategies, you can create a structured approach to project management, scale your business effectively, and achieve long-term success.
If you have questions or need additional resources, feel free to reach out!
