If you are a business owner who is not tracking any KPI's then I promise that you are losing money.
KPI's (Key Performance Indicators) are measurable results that tell how your business is doing in areas such as sales, profits, customer satisfaction, return on investments, human resources management, and project management. These pertinent metrics differ from business to business, but the practice of identifying and tracking these indicators is a universal necessity when it comes to being successful.
The first step is to identify which metrics you need to be tracking in your business. Below are just a few examples of some common KPI's.
Sales
Monthly Sales Growth
Monthly New Leads/Prostpects
Lead to Sale Conversion Rate
Financial
Net Profit Margin
Working Capital
Current Accounts Receivable/Payable
Project Management
Cost Variance (Planned vs. Actual Budget)
Percentage of Overdue Project Tasks
Return on Investment (ROI)
Marketing
Cost Per Lead Generated
Monthly Website Traffic
Click-Through Rate (Web Pages and Emails)
The second and final step is to simply track your KPI's. Luckily, you only have to track around 5 to 10 solid KPI's to start noticing a big difference in how much money you are saving and making. The best news is that with a solid software like Tracker-CORE, you can easily and automatically track whatever KPI's are most important to your company.
Contact us today, and we will personally help you identify some of the KPI's that you should be tracking to become wildly successful in your industry. Why not give it a shot? The consultation is free.
