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How to measure growth in your business
- 1. How to measure your growth Project: People Toolbox Beata Mosór-Szyszka July 5th, 2020
- 2. Who I am Shortly Beata Mosór-Szyszka CEO & Strategist @ Project: People CEO & Strategist Beata Mosór-Szyszka Experience:
- 3. Introduction Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl
- 4. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl First KPI’s Project: People
- 5. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Basic Cashflow Project: People
- 6. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Basic Cashflow Project: People
- 7. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl OKR’s Project: People
- 8. www.projectpeople.pl/pl/#newslette r Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl
- 9. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Quarterly Analysis Project: People
- 10. Start measuring Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl
- 11. Start measuring Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Set up metrics
- 12. Start measuring Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Choose a tool (e.g. cashflow) Set up metrics
- 13. Start measuring Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Choose a tool (e.g. cashflow) Set up metrics Visualize
- 14. Start measuring Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Choose a tool (e.g. cashflow) Set up metrics Visualize Analyse
- 15. Scoreboard - Example Project: People Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl
- 16. Balanced Scorecard Project: People Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl FINANCES Income Costs CAPACITY Key resources Key activities Key partners INTERNAL PROCESSES Marketing & Sales Channels B&R Unique Value Proposition CUSTOMERS Customer Relationships Customer Services Products & Services Delivery GOALS Metics Targets ACTIVITIES Deadlines Responsibilities
- 17. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl KPI’s Measurement Sales Efficiency Number of leadsMonthly Income Monthly Costs LTV Yearly Income Number of team members Number / % of recommendations Number of trainer (permamanet cooperation) Number / % of come backs Financial Internal Processes Customers Capacity
- 18. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Increase in revenue Increase in sales Internal processes optimization Simplifying the sales process Rebuilding and optimization (based on measurements) of the sales funnel Building new marketing & sales channels Simplifying the offer Building up the existing marketing channels Increasing the brand recognition Optimization of the sales activities Optimization of the cooperation process between x & x team Increasing sales from the xxx
- 19. Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl Yearly customer value START TO MEASURE Number of leads, clients, value per sales channel: xxx leads % xxx customers / year Yearly income xxx Average Life Time Value: 20% increase Sales efficiency: 42% increase Average purchase value: 20% increase Monthly income xxx
- 20. Kontaktu Zapraszam do Beata Mosór-Szyszka CEO & Strategist @ Project: People Google Product & Marketing Mentor + 48 601 429 139 beata@projectpeople.pl CEO & Strategist conferences: /beatamosor @beatamosor Outsourcing People 2017 Kyiv Beata Mosór-Szyszka | CEO & Strategist | 601 429 139 | beata@projectpeople.pl
- 21. business even more profitable! Let’s make your Beata Mosór-Szyszka 6. września 2019
Editor's Notes
- Watching different businesses you can have an impression that they are measuring everything. Measurements are important and let you to growth your business efficiently. But the number of metrics should be adjusted to the size and age of the company. Measuring too big number of things is even worse for your business than measuring 1 thing that is crucial. Working with startups we can observe that they are often following a lot of unimportant numbers - o it’s hard for them to analyse them and taking lessons learned from them. And in the oposition they are not measuring anything. Our experience is showing that the number of metrics should growth with the company and should be optimized as the other business areas are.
- When we started PP - even before we did any action we set up the very first KPI’s & OKR’s. We didn’t even called it like that :D But we precisely defined some values in the areas of finances, marketing & sales, customers, and team.
- Regarding finances we set up the goals on the level of: - monthly & yearly income - Splitted into products, customers segments, or sources of income. We also visualized in the simple form of the cashflow. Such a visualization is showing the progress, where you are regarding your goals, etc.
- Regarding finances we set up the goals on the level of: - monthly & yearly income - Splitted into products, customers segments, or sources of income. We also visualized in the simple form of the cashflow. Such a visualization is showing the progress, where you are regarding your goals, etc.
- This cashflow I showed you is a simple visualization of the goals realization. It’s built based on the OKRs system. OKR’s are the system of goals definition and realization invented by Google. The assumptio was to have one pager with the most important information about the goals. And simple visualization of the goals realization and the progress. You can find tempaltes of OKR’s on the website: https://okrtemplates.com/
- You can also sign up to the projectpeople newsletter & you will get the access to simple tools around goals measurements (e.g. scoreboard).
- Measuring is nothing without analysing those data. So once a quarter we sat with my cofounder and alaysed the data that came from the the cashflow and in the same time, we rethought stats around the other busieness that was needed to make decissions around next steps. This was the insight to the scoreboard (the next level of measurements), that we invented in the second year of our company. And I will show you that in a minute.
- To summarize: 1st of all start measuring things that are crucial for your business -
- Set up metrics that are simple but important for your business: e.g. financial like income, but also those connected woth clients like number of leads and customers.
- Choose a tool - that could be even Excel on Google Drive, but decide that will be one place to agregate all the data you will have.
- Visualiza the data, the progress, and the goals.
- Analyse data quartarly.
- That was the very first step to the measurements.. The next step was to create a scoreboard - where we set up additional kpi’s and metrics regarding our internal processes, marketing, sales. etc. We did that in the second year of our company.
- In the 3rd year we extend that to the even braoder form. Right now after 4 years our KPI’s and OKR’s are agregated in something called Balanced score card. That’s the classic management tool that let you track the growth of your company. Number of metrics is around 200 including simple metrics showed the progress in the particular areas - e.g. personal branding only have around 20 OKR’s measured on the level of the whole team.