Is Your Business Growing as Fast as You Planned?
Is Your Business Growing as Fast as You Planned?
Or worse yet, do you even know how your business is performing and what the key growth drivers are for your business?
An essential part of growing and developing your business revolves around the concept of identifying then tracking and measuring the Key Indicators in your business. Once you have established what it is you would like to achieve, and you track how you are performing, you will begin achieving your goals. You will also find that your employees will become aligned and begin working together towards growing your business.
A Key Indicator is a numeric value that you measure in your business. A Key Indicator is based on areas of your business that you have identified as being crucial to your growth and success. You should define the range of values that a measurement of a Key Indicator could fall within. It is also useful to give a brief text description for the Maximum and Minimum values of the Key Indicator. This assists you when you are actually measuring the Key Indicator.
The Key Indicator should be measured consistently over time. If the measurement value is determined by a series of steps a Business System should be put in place to ensure a consistent and repeatable process is used to measure the Key Indicator.
I did not begin to have the success that I hoped for in my businesses until I actually took the time to define, track and measure the key values in my business. I can now tell in an instant how my business is performing and what areas I need to concentrate on to improve and grow.
In my web based businesses some of the key indicators I track include:
* Number of visitors to the web site:
* Number of Conversions;
* Conversion Rates (Number of Conversions/Number of Visitors); and
* Gross and Net Profit.
These Key Indicators are applicable to my business and may not be directly relevant to your business. You should identify what it is that truly drives your business and then measure and track the values over time with Key Indicators.
You can then incrementally make changes to the way your business operates in a concerted effort to improve. If you have identified and set up your key indicators you will be able to establish what works and what does not work.
If you consistently do more of the things that work in your business and stop doing things that do not work you greatly improve your chances of success.
Business System Manager allows you to define Key Indicators in your business, also allowing you to create Tasks and Business Systems to ensure that the Key Indicators are measured and reviewed on a periodic basis.
Is Your Business Growing as Fast as You Planned - To learn more about this author, visit Justin Woolich's Website.
Like this article? Share it with your friends
Or are you not planning for growth at all?
Or worse yet, do you even know how your business is performing and what the key growth drivers are for your business?
An essential part of growing and developing your business revolves around the concept of identifying then tracking and measuring the Key Indicators in your business. Once you have established what it is you would like to achieve, and you track how you are performing, you will begin achieving your goals. You will also find that your employees will become aligned and begin working together towards growing your business.
A Key Indicator is a numeric value that you measure in your business. A Key Indicator is based on areas of your business that you have identified as being crucial to your growth and success. You should define the range of values that a measurement of a Key Indicator could fall within. It is also useful to give a brief text description for the Maximum and Minimum values of the Key Indicator. This assists you when you are actually measuring the Key Indicator.
The Key Indicator should be measured consistently over time. If the measurement value is determined by a series of steps a Business System should be put in place to ensure a consistent and repeatable process is used to measure the Key Indicator.
I did not begin to have the success that I hoped for in my businesses until I actually took the time to define, track and measure the key values in my business. I can now tell in an instant how my business is performing and what areas I need to concentrate on to improve and grow.
In my web based businesses some of the key indicators I track include:
* Number of visitors to the web site:
* Number of Conversions;
* Conversion Rates (Number of Conversions/Number of Visitors); and
* Gross and Net Profit.
These Key Indicators are applicable to my business and may not be directly relevant to your business. You should identify what it is that truly drives your business and then measure and track the values over time with Key Indicators.
You can then incrementally make changes to the way your business operates in a concerted effort to improve. If you have identified and set up your key indicators you will be able to establish what works and what does not work.
If you consistently do more of the things that work in your business and stop doing things that do not work you greatly improve your chances of success.
Business System Manager allows you to define Key Indicators in your business, also allowing you to create Tasks and Business Systems to ensure that the Key Indicators are measured and reviewed on a periodic basis.
Is Your Business Growing as Fast as You Planned - To learn more about this author, visit Justin Woolich's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
|||
David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
|||
David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
|||
Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Justin's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
|
||
|
||
|
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 11 Ways to Build Business Working From Home TeleSeminar Etiquette EQ Coaching Report Leadership Assessment |
|
 | ||
 |
Top 50 SEO Posts - 2007
Top SEO Posts of the Year | |
 |
Top 50 Marketing Blogs
Top Marketing Blogs of 2009 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
||||||||||||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
