A KPI is an assessment of whether you’re achieving your business strategy. A KPI dashboard is a summary report of the status of your KPIs.
What are KPIs and why would you want a KPI dashboard? A KPI is an assessment of whether you’re achieving your business strategy.
Each KPI measures an aspect of how well you’re doing on the most critical aspects of your business’s success. A KPI dashboard is a summary report of the status of your KPIs.
Let’s say you want to work a 4-hour workweek as you travel the world. You check in to work briefly and infrequently. In those check-ins, you must quickly assess how your company is doing.
You tell your staff to monitor five key metrics and report them to you whenever you check in. They are everything you need to know to assess whether your company is OK. Those metrics are your KPIs.
What five metrics are they for your company? It's different for every company. A great resource to pick from is Klipfolio's Metric HQ.
Knowing your KPIs allows you to manage your company efficiently and effectively, whether you work a 4-hour workweek or a 40-hour workweek.
I wish you successful business monitoring with effective KPIs aligned with your business goals. I wish you well.
- Rob Stephens
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