Best Certified Public Accountants in Glenview, IL

Use These 9 KPI's To Grow Your Business - As a business owner, you need to know how to track your progress toward achieving your business objectives. Looking at things like revenue and profit on a balance sheet can only take you so far. You should continually seek more tangible ways to measure progress. Key performance indicators (KP Is) are the best performance measurement metrics you can use to track progress towards your business goals. Tracking relevant KP Is can assist in decision-making, help you set strategic objectives, and allow you to evaluate your business progress in real-time. Defining and choosing the right KP Is for your business When you use KP Is, you want to make sure that they align with your business goals. To help with this, you need to make sure your business goals are measurable, actionable, and include a reasonable time frame. For instance, instead of setting a goal “to be the best company in the world,” your goal should be something along the lines of “to be a Fortune 500 company by 2025. To do this, we’ll increase revenues from XYZ product lines while cutting operating costs.” Another example could be something like “attract 500 new customers by the beginning of Q2. To do so, we’ll increase spending on social media marketing campaigns by $10,000 and will focus on sites like Linked In.” Because the goals in these examples are measurable and actionable, business owners can easily build their KP Is around them. A good KPI is one that will allow you to tra...