directedfocus

Unlike other major downturns that have occurred, this one comes with an information overload.

There is so much economic data purporting to answer a simple question: Are things getting better?

• The answer is rarely straightforward.
• The numbers aren’t just confusing.
• They seem to be measuring some figure to justify the measurer's bent on what message they want to get across.

10 indexes I've recently discovered

• Taxi Driver Index: The number of overeducated taxi drivers you meet driving taxies ... this is an old one
• Tradies Index: Speed at which "tradies" return a pone call
• Hot Waitress Index: The hotter the waitresses, the weaker the economy.
• The Quality of Men’s Underwear Index: Purchases are proportional to personal cash flow.
• The Quality of Buskers Index: The quality of the buskers increases as times get tight
• The Lipstick Sales Index: Also mentioned here
• The Spam Index: The tighter the times the more spam that gets sent
• The Big Mac Index: This relates to Big Mac's and currency exchange rates
• The Alternative Big Mac Index: An alternative one to that above
• The Tall Latte Index: Another currency rate comparison

Whilst entertaining and may be useful if these impact on your industry these indexes serve to distract from what needs to be measured and monitored.

3 Questions

What are the key indicators of the health of your business or industry sector?

What are the 3 key items that "measure the pulse" of your business?

How often do you monitor them?