As we hurtle into an uncertain year, you may be tempted to pull back on some business activities. So how do you decide what gets the chop? By getting clear on your Key Performance Indicators (KPIs).
In my coaching work, I’ll often ask a soloist who’s doing it tough to describe how things looked in better times. More often than not, in the process of recounting memories of prosperity a few pauses appear in the story. When I question the reason for the pause I’ll hear phrases like, “Hmmm. Just trying to remember why I stopped doing that.” or “I don’t do that anymore, because…er…”
At times like these when the market is tricky, we must not stop doing the good stuff, plus we should take time to review what’s already fallen off our radar.
The way I approach this in my work is to steal some phraseology from the big end of town, in the shape of ‘Key Performance Indicators’.
While Key Performance Indicators (KPI’s) are most usually the domain of the HR departments, they serve as a useful means of clarifying what works in a solo business.
I suggest taking some time out in the next week or two to list the top ten KPI’s for your business to thrive – those things that work well in terms of business development.
Want more articles like this? Check out the measuring success section.
Try answering these for starters:
- What’s the most effective way you generate word of mouth opportunities?
- What relationship building actions have worked well in the past?
- What’s your best example of over delivering? Willing to do it?
Why not share some learnings, or join my discussion in the forum.