Business metrics are needed to measure the success of any business strategy. We take a look at how to make the most of business metrics as a means to drive the efforts and ambitions of your company.
- Purpose of Business Metrics - Metrics can be useful business tools. But to understand their limits, you need to understand the purpose of creating business metrics in the first place.
- Types of Business Metrics - Metrics play an important role in business planning and evaluation. Here are some of the types of business metrics small business owners use to measure their companies.
- Creative Business Metrics - Think outside the box when defining the business metrics that you use to monitor the health of a business. Here are a few creative metrics to get the ball rolling.
- Bad Business Metrics - Not all business metrics are created equal. Some business metrics provide an accurate gauge of your company's condition while others are just plain bad. Here's why . . .
- Individual Employee Metrics Versus Company Metrics - Leaders who excel at tracking company metrics often fail to track individual employee metrics. That's a mistake that can have big consequences for your company's bottom line performance.
- Asking Employees for Metrics Suggestions - You suspect that your metrics aren't telling the whole story, but you're out of ideas. Why not ask your employees for metrics suggestions?
- Sales Per Employee Metric - A sales-per-employee metric has the potential to substantially boost profitability. Then again, it could drive your company to the brink of collapse . . .
- Client Retention Metrics - Client retention rates have legitimate business value. But if you're not careful, your client retention metrics could lead your company down the wrong path. Here are the advantages and concerns of using client retention metrics in your business.
- Logistics Business Metrics - If logistics is a key part of your business, here are some logistics business metrics that you should benchmark, monitor and work to improve.