Create Business Systems And Set KPI’s To Manage Them

KPI’s are important because they allow you to measure the things that matter in your business, and the things that matter are how many customers you’re getting, how many are staying, how much they actually buy, and how frequently they buy and how much profit you are able to make in the process.
So knowing what your KPI’s are and better still, actually measuring them on a regular basis is something that will make your business stand out. Your customers will notice your efficient, streamlined and systemised way of doing business and they will love that they can shop with you and know exactly how they will be treated, the kind of service they’ll get, the follow up support that will be offered, that they won’t be forgotten about. In short, they will become a raving fan!
And another thing with KPI’s, is that you can bet that the majority of your competitors are not measuring these on a regular basis. Whilst they probably know what they are, and they probably know that they should be measuring them, very few actually do it. And here is where the biggest advantage lies – businesses who don’t measure these important KPI’s stay where they are because they aren’t aiming for anything better, and if they are, they won’t know when they get there because they don’t know exactly where they’ve come from.
One Simple Tweak To Your KPI’s Can Have A Dramatic Effect
One simple tweak to your KPI’s can have a massive impact on your bottom line. For example, if you look at increasing your KPI areas by as little as 10% each, which isn’t very much, then the impact that it will have to your bottom line is massive. It won’t just increase your bottom line by 10%, it will increase your bottom line by 50% or even 80% because all those little 10% increases in each of your KPI areas are cumulative, that is they work together one on top of the other to produce compound results. But the key to achieving massive results like these is getting your baseline right, knowing where you’re starting from and where you’re aiming for and then its just a matter of working out what needs to be put in place to make it happen, so what systems and processes your business will need to support it to achieve its targets.

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