This blog post is for those small businesses that are currently tracking KPIs using Excel. I am going to share a more productive and less time-consuming way to not only track KPIs, but also keep your team aligned and focused on the right things.
Tracking KPIs Can Drive Real Results
When I say “tracking” I mean that you have a set of meaningful measurements that you review with your team on at least a monthly basis. These measurements are helping to give you a clear picture of where your business is headed.
If you're like most businesses, you are using multiple Excel spreadsheets to keep track of these critical metrics.
Note: If you’re not tracking KPIs, I would encourage you to do so ASAP. We've seen this one simple exercise help to drive significant improvements of profit. If you need help determining which KPIs to track, please contact us and we can help. Just click on the button at the bottom of this post.
For example, last week we helped a $12M manufacturing company determine the right KPIs based on their strategic plan.
If you're not sure why tracking KPIs is such a big deal, please read this post on how we helped one company increase their profit by 135%! KPIs work.