Recovery Plan P9 – Key Performance Indicators

Last updated: 09 October 2020

Business Owner Update 22nd May

Recovery Plan P9

Okay. And the third video in the series on the future is, Key Performance Indicators, more important are Key Predictive Indicators and simpler, still, Targets.

Now, if you and your business are not working on targets, and I'm talking about targets in all sorts of areas...

...we have these seven magic numbers and you know, a couple of them, I'll just reel off now...

So you've got the leads,

you've got the conversations,

you've got the conversions,

you've got the margins,

you've got sales, of course...

...you've got, you know, there's a whole, there's a range of seven magic numbers for each business.

Some of them are common to virtually all businesses and some will be specific to your business.

You can work with those, you know, you can take the common ones and then get tweaked in for the, for the niched ones.

If you set targets, then something changes in our mindset.

You can imagine.

I talk about in other blogs, you know, imagine watching a football game with no goals, right? The players are just kicking the ball around.

How exciting would that be for the players and how exciting would that be for the audience?

Not very!

Golf, aiming in the hole. Right?

All of that. It's all, we all have a goal and that makes things exciting.

It changes something in our psyche that makes us want to go further.

So, the elements, once you get past targeting more and more powerfully, are key performance indicators, which somewhat are the seven magic numbers.

If you work on targets, you'll, you'll help yourself, for sure.

And they're really simple to do.

If you have online accounts.

If you don't have online accounts. ...please consider getting it.

It's always up to date.

It's always accessible anywhere in the world.

And, I can't, I can't imagine what I would do in business without it, for myself and for my clients.

And then of course you get these predictive indicators.
These are the most powerful of the lot.

Let me give an example of it.

A key performance indicative indicator could be sales.

A predictive indicator could be leads.

It could be conversations because the more leads you get, if you follow the sequence down in a fun