Apple Watch Psychopaths
Luckily, I live out in the country because otherwise I would be embarrassed by my neighbors seeing me sprint down my driveway at 9pm risking life and limb because my Apple Watch told me I could still do it and burn the 40 calories left to hit my Move goal.
Yes, I’m a psychopath. Does anyone else have this kind of dysfunctional relationship with their Apple Watch?
The answer has to be “Yes,” right? Because everybody has them. I look around now and see so many square faces on wrists despite the fact that it was viewed as a failed product upon its release. And it should have been, if it didn’t become so darn useful. Absent its judginess, it’s a no-brainer. That said, everyday I think about going back to the Timex Ironman I keep in my bedside table.
But I digress…
Which brings us to metrics, which are both the most important and most dangerous concept to introduce to any business…or really any group of people. If you have them and you understand them and you work towards them, metrics can be unlocking and important. But if you try to achieve them at any cost without regard to nuance, they can be your undoing…fast. To bring this all full circle, yes, it’s frustrating to come up short of an arbitrary but well-intentioned goal, but do those last 40 calories really matter in the scheme of things and should I be out in the pitch black with a headlamp instead of helping put my kids to bed?
But I digress again…
When it comes to metrics, three things matter: (1) What; (2) When; and (3) How.
What is the variable you are measuring. Make sure these are items that matter and that are leading indicators i.e., predictive and not lagging indicators i.e., reactive.
When is the time period over which you are measuring your What. Does an hour matter? A day? A week? A month? A quarter? A year? Make sure what you are measuring is calibrated with when you are measuring it and that the two together provide meaningful information.
And finally How are you achieving the What over the When? As Mark notes, if you’re measuring a rate, make sure you’re also measuring a volume of throughput. And if you’re measuring volume, make sure you’re almost measuring a rate of quality. Moreover, ask if what you’re doing makes you proud? And is it sustainable or does it carry hidden costs i.e., does it make you want to go back to your Timex Ironman?
These are also important questions even if your What and your When are spot on.
P.S. Permanent Equity’s investing team is hiring. Click here for the details.
– By Tim Hanson
