Practical strategies for growth
When it comes to business success, passion, dedication, and good old hard work are essential. But they’ll only take you so far. To move up to the next level, you’ll also need in-depth knowledge and understanding of what drives your business.
Setting and measuring key performance indicators (KPIs) is an effective way to push your business forward, if you do it well. It’s about working out what’s driving your business, finding concrete ways to measure performance, and using that insight to improve.
That’s where Thrive CA’s KPI Coaching comes in. This service is designed to help you set goals, assess progress, and ultimately improve your business. We focus on simple, practical strategies that you can manage yourself.
Set, measure, grow
Every owner wants to grow profits, improve cashflow, and increase the value of their business, but there’s no one way to achieve those goals. Every business has a unique set of drivers and challenges, so you can’t simply create a set of KPIs that works for everyone. You need to develop an in-depth understanding of your business to find out what’s driving your growth.
KPIs can be financial – like increasing gross profit margins, reducing overheads, or improving average customer spend. They can be customer-based – for example, customer satisfaction ratings or feedback. They can be staff-focused – like building staff knowledge or improving retention. Most businesses will have a mix of KPIs in different areas, depending on the makeup of the organisation.
The key factor is that KPIs need to be concrete and measurable – ‘increase profits’ won’t cut it. If you can’t articulate a KPI and work out how to measure it, you can’t improve.
Strategies for success
Thrive CA’s KPI coaching is designed to give you the skills you need to push your business forward. It’s not about improving every single aspect of your business, but finding the factors that will make the most powerful difference.
We help you establish 3 to 5 KPIs, then teach you how to track and interpret your results using a cloud-based dashboard. From there, we work with you to create strategies to improve, whether that means process changes, staff changes, financial strategies, or a combination of tactics.
Working with a KPI coach helps you build the skills you need to improve, and regular meetings with an expert helps keep you accountable. Once you’re confident in your ability to manage your own KPIs, we can stay on to offer advice when you need it. It’s about helping you build your business knowledge, and build a better business.
Want to move your business forward? Talk to the Thrive CA team now.