Congratulations should you decide to sure up your thoughts on KPI’s. Key Performance Indicators are extremely useful in evaluating and building your team or business. As a cautionary statement, let me lay out right up front that this holy grail of business matrix study is not a full solution in itself. Empirically it lays out all kinds of intuition about your team and business. However, the intuition I mention is one of the foundation pieces to long term growth. Let’s knock this one out and have fun.
Part of the Founding Members menu or available ala cart. Understanding KPIs and their implications gives you a leg up on the task at hand.
Identify Your Drivers
Define a KPI
Understanding what a KPI is will help you in discovering Your KPIs. Since every type of business is different, the range of KPIs to track will also differ.
KPIs in your Business
Now that we know how to define a KPI – lets figure out how to define the KPIs in your business.
Examples of KPIs
In the last lesson we attempted to Identify KPIs that apply to your business. If that was a challenge (as would be expected), I’ve added a lesson focused on examples.
Now you know “what”, but “How?”
This lesson takes over from the last section with strategizing a method to measure your KPIs once you’ve established what they are.
Committing your company to a Balanced Scorecard implies that you are locked into positive change through evaluation of your KPIs. I.E. – your KPI results must drive adjustments to your methods.
Follow Trends Not Spikes
When pouring over data, it is not uncommon for Managers or people not privy to the “Big Picture” to panic when a change occurs. Take a breath and read through this module…