An important link you should know about.
In the business section of this Sunday’s New York Times, an article caught my eye. “Craft Beer, the Very Limited Edition,” is about a brewer in Vermont who makes very limited runs of his beers.
The article goes on to report that Hill Farmstead produces only 60,000 gallons of beer each year. And even after installing new equipment, production will be limited to 150,000 gallons annually.
Is that a lot or a little?
Ah, this is the key question whenever one speaks of impact metrics.
“For context, the Russian River Brewing Company, a craft brewery in California, made 437,100 gallons last year, and Dogfish Head Craft Brewery in Delaware produced 6,300,000 gallons.”
Context. Context is king.
Just as you might struggle to understand whether 150,000 gallons is a lot or a little without knowing any backstory, someone else might not know whether your report of a $3 million increase in annual sales is a fantastic or a disaster.
If your goal was to increase sales by $1 million, you’re a rockstar. If the goal was $10 million, you’re in the doghouse.
Here’s to keeping everything in context, and perspective, in 2014.