Discover The Few Key Performance Indicators (KPI) You Need To Manage And Improve Your Business
Business owners can make five mistakes with Key Performance Indicators (KPI):
- You don’t measure enough KPI and you miss important changes in your business that cause you to miss profitable opportunities and to incur extra costs.
- You can measure too many KPI and find yourself confused with all the conflicting data, leaving yourself unsure how it fits together. There is also a cost associated with each measure and how often it is calculated and reported.
- You measure the wrong KPI which aren’t consistent with your future strategy and goals for your business or which give you the wrong guidance on important decisions.
- You keep your KPI secret rather than sharing them with your employees so that they know what’s important to you, what is happening with performance and how they can help by what they do in their own roles.
- You can monitor KPI but not take action which defeats the entire performance of measuring performance. It’s meant to guide your decision making and focus your actions but if it doesn’t change what you do, it’s a waste of money.
Combined I believe they create one of the biggest constraints in most businesses and that is the constraint to manage effectively based on accurate, relevant, meaningful information.
What I Can Do As Your KPI Coach
My role as your KPI Coach is to make sure you avoid all of these performance indicator traps.
We’ll work together to look at:
- How your business works – how it is structured and the major processes that really matter to performance.
- What you want to achieve in your business for your customers and for you as the owner. We can also consider the needs of other stakeholders if you wish.
- Your strategy for moving your business from where you are to where you want to be i the current economic environment and in the future.
All three aspects are vital and therefore your KPI Scorecard should be uniquely designed for your business.
How We Will Work Together
As your KPI Coach, we will have a series of telephone / Skype based coaching sessions that will involve some training, discussion about how to apply particular ideas to your business and feedback on homework assignments.
I will also ask you to read, listen or watch various training materials between our coaching calls to reduce the general one-to-one KPI training to levels that keep the costs down but maximise relevance to your business.
Over the weeks, you will develop a KPI Scorecard for yourself and the more detailed KPI that can be cascaded down through your managers, supervisors and employees.
We will talk through how the information for the measures can be found and tracked easily and inexpensively. Where necessary, you will adapt your KPI to reflect any problems with getting the ideal measures.
You will set targets for the KPI based on performance goals, historic trends, and possibly external benchmarks.
Once your KPI system is established we can create regular monitoring meetings where we can review performance together and discuss actions that can be taken to improve performance or once you get into the habit, you can do it on your own.
That All Sounds Great But How Much Does It Cost?
I am a coach who believes in making sure that you get paid first.
My fees will vary based on your business and what we need to do but you won’t pay me until you are seeing measurable improvement in your business.
My commitment is that you will earn at least a 500% return on your investment in my services.
I hope you think that sounds fair.
It does however mean I have to be confident that your business can be improved and you have the desire and commitment to improve it before I can agree to be your KPI Coach.
If you’re interested, we need to talk.
A Free, No Obligation First KPI Coaching Consultation
If your business is based in the UK and you’re interested in working with me as your KPI Coach, email me at firstname.lastname@example.org
We can then arrange a free, no obligation first consultation.
While this is a “getting to know you” call, my aim is to add value and to help you to improve your business. I don’t hold back on my ideas on the basis that you have to pay first.
It’s never made sense to me when I’ve heard other coaches say they never try to solve the problem with free advice in the initial consultation. If I can help you in a few minutes, I will do and assume that you’ll pass my name forward to other business owners as a “business genius” (ahem).
Who Is Paul Simister?
Paul Simister is a business coach based in Birmingham, in the West Midlands of the UK.
He helps clients with his “heart of a marketer and mind of a finance director” approach and specialises in treating the two main symptoms of business problems – poor profitability and bad cash flow – and two of the main causes of those problems – a lack of clear differentiation and the absence of an effective performance measurement system.
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