Five performance measures that give strong coverage of the core financial and operational elements of business success
What you will learn
To show how a small number of performance measures can support small business growth
To explain the five KPIs recommended for use by small businesses
To define the five KPIs for small businesses and how to calculate them easily and quickly
To identify other suitable KPIs for small businesses operating in specific industry sectors
To present a case study exploring the use of the five KPIs for small businesses
Description
There are a great many performance indicators available for organisations but small businesses don’t have the time or resources to monitor a long list of measures. The aim of this course is to present five KPIs which, I believe, will work in all circumstances and can be used by a small business to to effectively manage their performance and make decisions that will help them improve.
I am not saying that five KPIs is all you need. Rather this is a starter set of five measures that give strong coverage of the core financial and operational elements of business success. Depending on your organisation’s industry or sector there may be additional measures that are also useful, and I cover many of those in this course as well.
The purpose of this course is to explain my five recommended KPIs for small business in detail, with examples, and to show how they can be used to measure success and identify areas for improvement.
The five KPIs for small businesses are a good place to start. The performance measures I recommend are:
1) Sales Income
2) Contribution
3) Available Cashflow
4) Time to Serve Customers
5) Customer Feedback
In this course I will explain how to use them effectively, and also identify some additional performance indicators that will help in specific areas of business.
If you are involved in running a small business, or are planning a start-up, these five KPIs are a good place to start. I hope that you find them beneficial.
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