What KPIs (Key Performance Indicators) do you use for your business?
There are so many KPIs that you can track but it is important to focus on the handful that are relevant to your business right now. Tracking irrelevant KPIs is about as helpful to my business as chasing my Tetris high score.
It may surprise you that, as a qualified accountant, I don’t include profit in my weekly KPIs. Profit is the consequence of doing the right things. I do, however, track my marketing activity quite assiduously. The number of industry events that I attend/speak at affects the number of books and courses that I sell. This is the right thing for me to do but your business will be different.
Our Strategic Planning Day helps to identify the best KPIs for your individual business but you can take a look and work some out for yourself. Do you need to concentrate on marketing, sales, cash balances or profitability?
Give it a try and let me know how you get on