By Loren Fogelman
Fine tune your tracking
If you can define it, then you can measure it. Anything’s possible. The range goes from basic essentials to industry specific.
Robert Chandler, founder of Path by Simplex Financials, views KPIs as a measuring stick. “It gives insights into what’s most important and what’s changed.”
Rob suggests you monitor two types of KPIs:
- Short-term metrics that are specific to the current month.
- Insights related to long-term goals.
The general KPIs include:
- Cost of goods sold. This monitors the percentage between cost and profit.
- Insights about productivity, payroll, and performance.
- Advertising, sales and marketing. Inform clients about cost per lead, return on investment, and sales revenue.
- Operating expenses. Discover the efficiencies and the bottlenecks.
- EBITDA. Earnings before interest, taxes, depreciation, and amortization. A company wants to aim for 20%....
Read the full article here: Be a trusted advisor: Simple ways to start tracking your clients’ KPIs
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