Key Performance Indicators
Key performance indicators (KPI’s) are used by business owners to determine whether their business is on the right path.
KPI’s help shine a light on business performance and highlight areas that need attention.
‘What gets measured gets done’ and ‘If you can't measure it you can't manage it’ are just two of the popular sayings used to highlight the importance having measures or metrics in place in any business.
This approach helps you to identify the management metrics you need and the right data to collect so that you can assess how your business is performing.
There are 5 levels to developing great KPI’s for your business:
If you are looking for ideas to grow your business or simply looking to see of you are on the right track, contact me now for an informal discussion.
Key performance indicators (KPI’s) are used by business owners to determine whether their business is on the right path.
KPI’s help shine a light on business performance and highlight areas that need attention.
‘What gets measured gets done’ and ‘If you can't measure it you can't manage it’ are just two of the popular sayings used to highlight the importance having measures or metrics in place in any business.
This approach helps you to identify the management metrics you need and the right data to collect so that you can assess how your business is performing.
There are 5 levels to developing great KPI’s for your business:
- Develop a business strategy based around the following 4 perspectives: Finance, customers, Internal Processes and Learning & Growth.
- Define key performance questions for each strategic objective.
- Customise KPI’s (based on point 2) to the needs of your business.
- Ensure KPI’s are understood and owned by everyone in the business.
- Use KPI’s to increase business performance
If you are looking for ideas to grow your business or simply looking to see of you are on the right track, contact me now for an informal discussion.