One of the most popular videos that we’ve done in the past year has been about KPIs (Key Performance Indicators).
So Andrew Jeffers has gone back to the topic to shed even more light on how and why KPIs are crucial in helping you achieve your business goals – and growth.
Click here to see the original 2 Minute Accountant episode about KPIs.
KPIs: indicators of success in business and life
People are really intrigued and really interested in this topic. And KPIs can be truly amazing if you know how to use them right.
The fantastic thing about KPIs is that you can measure them regularly to see how well your business is doing on its path to achieve its goals. They are wonderful indicators of success in business.
But KPIs can be used in multiple areas of our lives.
They are not limited to businesses only. For example, if you go to the gym and want to lose weight, you can establish some key performance indicators to tell you how well you are doing on your path to achieving your goals. The things you can measure include (but are not limited to):
- your food intake
- how much you weigh
- your body fat
- your retention of fluid etc
Even more life lessons we learned from business: what mowing a lawn and business planning have in common.
Seeing is believing: KPIs are visible indicators of success in business
What happens a lot in business is that entrepreneurs decide on their KPIs but then they are let down by their habits. Successfully achieving your business goals relies heavily on knowing how to pursue those goals every single day, in a repetitive and determined manner.
At the end of the day, it all comes down to the habits you develop:
- if you don’t have a good habit of getting up at 5.30 in the morning…
- if you don’t have a mentor to push you along to the point and revenue up to make sure you are getting that KPI…
- if you don’t have an effective & regular measurement system…
…then KPIs are great. But they’re useless.
You need to follow up with ACTION. Action is the key. Action, consistency and being persistent.
Pursue your dreams knowing that your back is covered: learn about the 7 insurance must-haves to bulletproof your business.
Achieving your goals with the help of a mentor
There is another thing that works great for helping you achieve your goals. Andrew Jeffers calls it “the buddy system”.
As he explains, “You’ve got to have the person in your corner: your husband, your wife, your management team or just a mentor to help you get through it and push you towards achieving your KPIs.”
You know what else works wonders in helping you achieve your goals? Your company structure – it can be a maker or a breaker.
What are your indicators of success in business?
Choosing the correct KPIs is crucial in helping you achieve your goals. If you are not sure what things you need to measure in your business to get to your goals, let’s get in touch now.
At Shuriken Consulting we can help you draft the right business plan for you and work with you 1:1 to ensure you have the right goals, the right KPIs and the right habits and mindset to get you on your path to success.
