Today, John covers four strategic areas that you must measure in your business for your Key Performance Indicators (KPIs).
PEOPLE x PROCESS = PROFITS
The profitability of our business depends on how well and we and our teams perform trivial, menial and critical tasks with consistency every single time. Your teams will perform best when they understand how their performance affects the bottom line, how they’re measured and how they can be rewarded.
FOUR STRATEGIC AREAS
Key Performance Indicators (KPIs) are quantifiable measurements that reflect the success of your business. There are (4) strategic areas that you need to focus on and have strong KPIs in your business.
1. Customer Service, Marketing & Sales
Customer Service is King! If you’ve got no customers, you’ve got nothing! But don’t discount the importance of having strong marketing and strong sales.
Everything can be measured back to time and/or materials. And these things impact your financial bottom line so strong KPIs will help so much towards achieving goals in your business.
3. Internal Business Processes
These could be operations, it could be around production, design, development, what is it you are currently doing. There’s a whole host of different processes!
4. Learning and Growth
Learning and growth allows you to better understand the things that you should and shouldn’t be doing, and what you can and shouldn’t do to drive your business forward!
Spreadsheets, templates, calculators, formulas and other tools available at:
CEO on Demand website – www.ceo-ondemand.com.au
More Profit Less Time website – www.moreprofitlesstime.com
THANKS FOR LISTENING!
Until next time!