OPERATIONS
KPIs
Metrics Matter! IDENTIFY AND TRACK KPIs THAT ALIGN WITH YOUR BUSINESS OBJECTIVES TO UNDERSTAND WHETHER YOU ARE ON TARGET TO ACHIEVE THEM.
by Gary Harper
red and Tom were two young entrepreneurs who had just
lately. But I’m not sure what we can do about it. Our numbers just aren’t turning out the way we want them to.” The two men sat in silence for a few moments, contemplating their next move. Finally, Fred spoke up again. “Maybe we need to get some more education on how to run a business,” he said. “If we can learn how to adjust our strategies based on our numbers, maybe then we’ll start seeing some improvement.”
Tom nodded in agreement. “You’re right—that might be our best bet. We can go talk to some of the other investors and see what they have to say.” Eventually, they met a wise old man who taught them the importance of knowing “the numbers” and how to use them to make smart business decisions.
F
partnered to start a business. Unfortunately, they were struggling because they didn’t know their numbers, and they weren’t adjusting their business accordingly. “I don’t know what’s wrong,” said Fred, looking despondently at Tom. “We’ve been working hard to make this business a success, but it just seems like things are getting worse and worse.” Tom scratched his head. “It does seem like things have been tough
WHAT ARE KPIs? Don’t wait until your business is struggling like Tom’s and Fred’s
22 | think realty magazine :: january – february 2023
Made with FlippingBook Online newsletter