Key Performance Indicators, also known as KPIs, are core measurements that businesses use to monitor progress toward achieving goals and targets. KPIs, which vary widely by industry and entity structure, can be used to monitor and track all aspects of your business. Management teams pay close attention to KPIs, looking for anything out of line that indicates action needs to be taken. In this series on KPIs, we’ll look at the difference between KPIs and metrics, methods for choosing KPIs, how to define KPIs and the best ways to track and communicate findings.
Blog - goals
The path to success isn’t always a straight line. We’re all familiar with this when we drive on roads away from our intended destination but towards the highway that ultimately leads us there. Despite this familiarity with our physical travels, many tend to seek straight paths towards their business goals, especially those involving business networking.
In search for the straight path to success, business professionals tend invest the much of their efforts in developing new skill sets and enhancing their knowledge. This is important to do, but taking this approach without investing the time and effort in building meaningful business connections is an unrealistically straight path to success. Effective business connections give you resources that the greatest skill sets do not. Read more
By Mckenna Clarke, blog writer at TOP CFOS
A ship without a rudder is at the mercy of the winds that drive it. Likewise, a business without clearly defined goals is at the mercy of the financial world.
As a small business owner, it’s likely that you have big dreams. You want to make millions, gain market share, sell that app, retire early, or revolutionize your industry. No matter what it is, you’re not going to get there unless you have a very clear game plan. Even if you know exactly where you want to end up, you’re going to need to know what to do to get there. Setting goals can help you do just that.