Indicators help track weekly performance. • Key Profit Indicators help track strategy progress. By tracking all three types of metrics, you can get a well- rounded view of your business and identify areas that need attention. Do you have a process for tracking your KPIs? If not, now is the time to start. Having KPIs in place will help ensure your success. •
to start tracking your KPIs. KPIs are a tool business owners use to measure their company’s progress and identify areas of improvement. KPIs can be financial, measuring revenue or profit growth. Or, they can be operational, focusing on customer satisfaction levels or employee retention rates. KPIs can also be used to measure progress toward strategic goals, such as market share growth or new product development timelines. The important thing is to choose KPIs that are aligned with your business’s overall objectives; otherwise, you risk measuring success in a way that doesn’t matter to your bottom line. Once you’ve selected KPIs that make sense for your business, establish baseline measurements and track progress over time. This will allow you to see whether
your KPIs are moving in the right direction and identify any areas of concern. By regularly monitoring KPIs, you can ensure your business is on track for success. THREE MAIN METRICS Metrics are important. They give you a way to measure your progress and identify areas that need improvement. The three main types of metrics you should track are: 1 Key Process Indicators 2 Key Performance Indicators 3 Key Profit Indicators Each type of metric serves a different purpose: • Key Process Indicators help track daily processes. • Key Performance
Gary Harper is the CEO of Sharper Business Solutions. He spent 13 years as an executive in a Fortune 500 company evaluating operation expenses and
helping the company reach new levels of efficiencies. Harper began investing in real estate in 2004 and has used his expertise in business systems and process management to develop a program designed to help real estate investors position themselves to scale their business to new levels.
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