Every business in the world has a story that can be told with their numbers.
Do you understand what your business is telling you about its performance? Are you listening? If not, I can tell you as an Executive Business Coach, that it is time to change!
Your numbers speak a language that I call the Key Performance Indicators (KPIs). Your revenue, profit and loss are KPIs but there are so many more. When you consistently review and understand the KPIs in your business, you gain greater confidence that you know what is happening.
KPIs are a key tool to managing a single location or operations all over the city, state, country and the world. When you track the correct KPIs you have confidence that you will have an early warning of issues that require attention.
This confidence frees up your time to do other things including: strategic planning, marketing for new business, civic and community activities, family activities and vacations. KPIs are a key to working smart versus working hard.
The 11th Key in the 15 Keys to Building Quality Long-Term Organization is “Information is your Lifeblood”. I promise you as a strategic business consultant that life is so much better when you have good information. Watch the video below.
OK, you have watched the video, right?
Question: If you track the right KPIs for your business, how will it change the way you manage? Leave your comments below.
Also, to help you answer the question, go to the Resource Center and review the list of Leading and Lagging Performance Indicators.
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