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Why KPIs matter:
Any successful business owner will tell you that the key to success isn’t just about setting goals; it’s about understanding what goals your business should aim for and how to properly measure and pursue those goals.
Key Performance Indicators, or KPIs, allow business owners to set quantifiable goals that can be evaluated and measured. They provide a standard for grading your business success to help you create realistic business strategies to improve work. Most importantly, KPIs take the mystery out of management and help you hone in on what’s most important.
The KPI sniff test:
KPIs are great for engagement, but it's easy to get a little carried away by wanting to measure way too much! So before setting your KPIs, ask yourself these 3 simple questions:
- Can you keep the KPIs up-to-date (and live)?
- Will the KPIs have a significant impact to you and your company?
- Are the KPIs relevant?
Your copy of the KPI info-graphic:
If you’re interested in learning more about Key Performance Indicators, check out our info-graphic on creating KPIs for measuring business success and engaging your team. You’ll learn more about how you can introduce KPIs as a part of your business strategy.