Let’s talk about something that probably wasn’t on your radar when you started your business journey, but is crucial for holding accountability.
As business owners, we might often find ourselves dreaming of bigger things for our business – bigger results, new programs, more clients – but not knowing what would need to change to get us to those next steps.
I don’t know about you, but when I first started my business more than 20 years ago, I never thought that I would ever utter the words Key Performance Indicators – or as we lovingly call them, KPIs.
I know – this phrase might not sound thrilling. But trust me, it’s going to be a crucial step for you in knowing what’s working and what isn’t in your business, in order to set yourself up to reach your bigger goals.
The thing is, there comes a point for every entrepreneur when you crave a certain level of accountability. It’s about having a pulse on your progress and knowing where you stand in relation to your big-picture goals.
And that’s where KPIs swoop in to save the day.
Watch this video to learn how to use these progress points to reach your goals:
Keeping yourself accountable with KPIs
I know you’re probably thinking, “But Fabienne, where do I even begin? What do I track?”
Well, let me reassure you that it’s simpler than you think. This is about embracing the concept that what you track, grows.
Key Performance Indicators are a select few aspects of your business that you can statistically measure to use as, well, indicators of how your business is performing in different areas.
And here’s why it’s useful: by tracking and measuring specifics in your business, you gain the ability to properly course correct and to strategically pivot where necessary, allowing you to stay focused on your path to success.
Sounds empowering, doesn’t it?
KPIs to reach your goals
Now, let’s talk about what your KPIs could look like.
- Maybe for you, your KPIs could be that you’re tracking how many clients you sign up every week or new customers.
- It could be that you want to track how well your new program is performing in its first few weeks, to learn how to improve it or market it more efficiently.
- Perhaps you want to monitor the quantity and quality of your marketing efforts through content creation, or growing your mail list
Anything that you want to measure in order to know exactly how you need to improve, KPIs will help you to do. The key here is to choose metrics that paint a clear picture of your progress towards your overarching goals.
- Are your revenues growing?
- Are you making waves in your industry?
- Are your clients staying with you for the long term?
These are some questions that your KPIs should help answer.
Course correction through accountability
“I just want you to think about two or three things you can begin tracking now so that you bring more accountability in your business and reach your big goals.”
And then once you get more confident with this concept, you can start looking at even more aspects of your business to see what’s working and what isn’t.
This is going to allow you to really feel in control and aware of exactly what’s going on in your business, how things are performing, and what you could do to improve.
Now that is what to focus on to grow your business exponentially.
I want you to remember that accountability isn’t about adding more stress or pressure to your plate. It’s about empowering yourself to take control of your journey and steer it towards the success you deserve.
