You can get regular performance reports and that still won’t let you know if you’re hitting your goals without an established yardstick for your business’s performance.

This is why using key performance indicators (KPIs) is crucial to assess how your business is doing and have a framework to evaluate your progress.

So how do you identify which KPIs to concentrate on to ensure that your company is on the right track? 

Jump into this episode now to have a better understanding of KPIs and its role in your business growth.

Discussion Points:

• 0:00 Introduction
• 1:28 Why do KPIs matter? 
• 3:02 Your KPIs as your business’s heartbeat 
• 4:59 Is everything in your KPI dashboard valuable?  
• 7:20 How KPIs help you understand your staff’s performance
• 8:26 The difference between lead and lag measures
• 10:59 How overwhelming KPIs can harm your business
• 13:36 The five critical KPIs you should be measuring
• 17:23 Why increasing sales is not enough to increase revenue
  
  

Resources:

• Visit the Tradie Business School website (https://tradiebusinessschool.com/) 
• Join us on our FREE Facebook Group (Tradies & General Contractors Global)
• Create Your Vision using this free resource (https://tradiebusinessschool.com/wp-content/uploads/2022/01/SOP_Vision.pdf)
• Identify Your Values using this free resource (https://tradiebusinessschool.com/wp-content/uploads/2022/01/SOP_Values-.pdf)
• Define Your Mission using this free resource (https://tradiebusinessschool.com/wp-content/uploads/2022/01/SOP_Mission-.pdf)
  
  

Books mentioned in the episode: 

• The Path to Freedom by Barry Williame Magliarditi  (https://www.amazon.com.au/Path-Freedom-Profitable-Business-Without/dp/0648900428/) 

You can also connect with us on LinkedIn. For more podcast episodes, visit our website at https://tradiebusinessschool.com/ or subscribe to The Tradie Business School on Apple Podcasts, Spotify, and Google Podcasts.

Thank you for tuning in!