Do you know where all your company KPI’s are? Some of them are very simple to find and are very obvious to everyone. Others, however, are not so easy to find. In fact once discovered, the business owner will never lose track of them again.
First off, are we in agreement of what a KPI is? My definition is very simple. A Key Performance Indicator (KPI) is a piece of data that is so important that when it moves up or down, it has an impact on your business. An obvious example is Revenue. A not so obvious one could be # of sales calls made this week. Both of these data points could absolutely impact your business.
The 10 areas listed above are the common areas. (Leads, Sales, Marketing, Finance, Customers, Website, Pipeline, Products, Services, Team) Some KPIs are in multiple areas. Also, the way these areas listed in the triangle above is not listed in any order of importance.
Odds are that you will find at least one KPI in each of the areas listed. The great thing about KPIs is that they are different for each business. What matters is what data is important to you based on how you run your business. This is why it is a huge mistake to have someone say to you these data points MUST be your KPIs without even looking at your business and your data.
Remember, your data tells a story. As a business owner, YOU need to know what story your data is telling you. THEN make sure you put those KPIs all in 1 platform so you can see them in a instant… Just like a dashboard in a car.
This will make your business run smoother.