Mastering Measurement – The Essential Role Of KPIs And Metrics In Performance Analysis
- Sep 22, 2023
- 3 min read
Updated: Feb 11, 2024
Written by: Alberta McKinney, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
Understanding the Business of Business.
My unique way of working with start-up business owners assists them in building a solid business foundation. This creates the success they desire. Developing successful business habits with proven track records starts the business in the right direction. Having a business coach at your business's start helps avoid costly mistakes. As a new business owner, differentiating between running your business and the products or services your business offers is paramount. Understanding the "Business of Business" is what keeps us in business.
This article highlights two values of “Understanding how to operate your Business.” Knowing the keys to the success of a business keeps the business owner on track to their year-end business goals. These Indicators assist your business to stay on track as a small business owner. Each business industry has customized Metrics for its business focus.
What exactly am I talking about? “KPIs and Metrics” Your KPIs help you measure progress on how well the business is doing working towards your year-end objective. (the new marketing strategy increased your business volume.) Your Metrics assess, compare, and track performance or production focus on the processes or the activities that resulted in the business marketing increase.
Simply put, the KPIs track how your business is increasing or off track with the new marketing plan you implemented. The Metrics tell the success or challenges of the new marketing process you implemented. (Was it the follow-up phone calls, the freebies, or both creating your marketing success?) Now, the business owner has a marketing strategy for that product or service.
I’m sure you can now see how vitally important each indicator is for your business. Unfortunately, most small business owners don’t realize these indicators are necessary for a successful business. I am told too often, “Maybe I will do that later; I just want to get my business started now.” Sadly, these business owners either go out of business or the business becomes a hobby.
My coaching style will remain the same. My heart-driven goal is to help new and existing business owners thrive and succeed. Business owners with a die-heart vision to succeed eventually learn through trial and error. How did I achieve success in my business? It was a combination of mentors, coaches, and trial and error. Those trial-and-error lessons can cost you dearly. Delays in business success and great financial losses.
Keep this in mind: for continuous business growth and success, the business owner must continue to grow in knowledge to become an industry expert in their chosen business. We all have coaches and mentors throughout our careers. Until the business owner gets years of experience under their belt, most do not realize the value of coaches and mentors. We are a necessity. We are the shortcut to your business success. If you have never traveled the road to business success, there is no way to know the shortcut to get there!
Remember success is only as far away as you see it. With me, it’s always an arm’s length away.
“To Your Success”
I provide business coaching that develops a business foundation for long-term business growth. My signature course, "Understanding the Business of Business" creates the stamina that's necessary for long-term business survival.
My signature course "Understanding the Business of Business" equips you with the knowledge of foundational business building.
Success is only as far away as you see it. With me, it's always an arm's length away!
Contact me today to schedule your coaching sessions!
Get a copy of my interactive e-book “Developing the CEO Mindset” here.
Alberta McKinney, Executive Contributor Brainz Magazine
Alberta McKinney has enjoyed the journey of the good times as an entrepreneur and the challenging times. As a proven Leader, she knows the ends and outs of success. The 2008 recession was one of those challenging times. As a real-estate investor at that time, she understood going through this challenge was a true testament of who she is as a Leader. This is why she has committed herself to helping others build a business foundation that is unwavering. Her interactive e-book “Developing the CEO Mindset” and signature training “Understanding the Business of Business” are designed for the success of others. Remember Success is only as far away as you see it. With her it’s always an arm’s length away!
