Usage of lead and lag indicators

 Lessons Learnt Live (L3) - 12 

Leading indicators look forwards, through the windshield, at the road ahead. Lagging indicators look backwards, through the rear window, at the road you've already travelled.

Lead & Lag indicators are widely used in economics/business/commerce. Applying them in professional life includes steps in understanding these indicators and charting a plan to act on them.

Good example of lead indicators are related to family/self care, quality time spent with friends/family, digital detox hours/days per month, number of positive self talks per day, number of smiles done at strangers per day/month, number of strokes (transactions) given/taken per day.

Lag indicators are accomplishments of personal goals (long run), face value within family/friend circle, personal achievements/rewards/recognitions, number of people in the circle of influence.

By tracking the lead indicators, we can always improvise the lag indicators. Always lag indicators if not analysed further as learnings and reinforced back as lead improvements will reduce the sustainability of achievements in the long run.

Some Q&A regarding Lead & Lag indicators

Is the lead and lag indicators part of a vicious cycle?

Yes, unless a tracking mechanism with a positive thrust is given to ensure the lead and lag indicators improvise, we may spiral in the negative cycle as well.

Is it best to be "Here and Now" which shall lead to improvise?

Yes.

Notes:-

There may be many other methods or concepts from corporate world, which can be thought about applying in personal life.

Explore this concept in personal life, any other doubts/clarifications do drop comments for each of us to share & learn as well.