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How to Develop a KPI That Works For Your Business

How to Develop a KPI That Works For Your Business

If your company has no vision, then you will not see success. In order to grow, then everyone needs to be on the same page about goals. In the famous words of Stephen Covey, “Begin with the end in mind”. Let’s take a look at these 5 steps that will help you build world-class KPI’s.

1.Figure Out the Issue

Ask yourself, “What problem do I need to solve?” That will be your root issue and the landing point from where you will build up from. That way, you can tie the rest of your metrics to this issue.

2. What Indicates Progress Toward Your Goal?

One mistake many leaders make is that they go from figuring out the problem they need to solve to trying to measure their success. However, you first need to figure out some indicators that you’re on your way towards your goal. These indicators will also help keep you on track because they can help steer you back towards the goal.

3. How Will You Track Performance?

This is something else that will keep you on track towards your goal. Remember, that the KPI is measuring the outcome. You need to be able to measure all the steps in between to make sure you’re still on track and to make adjustments if necessary.

For example, if your end goal is to add 5 new customers to your client list, then your metrics would be how you measure this.

Would you achieve this by having a certain amount of meetings? Cold calling a certain amount of potential clients? These would be your indicators to help you achieve your goal. The metrics you would track would be how many meetings were held or how many cold calls were made.

4. What Is Your KPI?

This would be the overall goal. In the example above, the KPI would be adding new customers to the client list. Your KPI is actionable and explains what you’re tracking and why you’re tracking it.

5. Where Is Your Information Coming From?

The last thing you need to do is figure out the source for where your information is coming from. How is information being tracked and is it accurate? The best way to ensure the information is accurate is to ensure you assign only one person to each metric. That way, you have one informed person who will know if the information is accurate.

Need help? Contact us today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professionals.

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Leadership Lessons We Can Gain From FDR

Leadership Lessons We Can Gain From FDR

We have all heard the stories of the stock market crash in 1929. Thankfully enough, we had a great leader in place when that happened. Franklin D. Roosevelt showed us how to navigate those devastating times of loss.

Modern day business owners can take a lot of lessons from the way FDR led our nation through that terrible time.

These are the lessons we can use today:

Get People Excited

Give your employees and team something to be excited about. Create your own slogan or chant that you speak to them on a regular basis. When you have a vision and make it clear to those that work with you, you’ll create a sense of unity among the group.

Be Optimistic in The Face of Devastation

When things are going south in your business, you need to give people hope for the future. No matter how bad things are, find ways to highlight the brightside. Never let the situation or circumstances darken your mood.

Rely on Your Colleagues to Help You Create Plans

Don’t go it alone; you’ve got a team for a reason.

Set up regular meetings where everyone has a chance to share the solutions to the problems. Write down all suggestions and then as a team, go through them one by one to figure out if it will solve the problems you are facing.

Be Bold!

You have to be bold and push through any fears that you have during these times. Being courageous doesn’t mean you aren’t scared. It means that you keep moving forward no matter what is happening. Show your team that they can keep going in the hard times.

Make Good Decisions For the Benefits of Others

At all times, a good leader makes decisions that benefit those around them, even if it doesn’t directly help them. Your team needs to know you have their best interest in mind. That’s how you develop long-lasting loyalty from others. They must know that when times get tough, you are advocating for them.

A Few Questions to Ask Yourself

If you truly want to be a better leader, here are a few things you should ask yourself:

  1. Do you have a vision for your company? If not, create one and rally your team around it.
  2. What actions can you take to increase moral in your employees?
  3. What specific goals to you want to meet in the next year?
  4. Do you have a game plan in place of how you will take your company to the next level?
  5. Are you showing courage in the face of uncertainty?

These are questions that all leaders need to answer. Always look for ways to increase your leadership abilities.

We would love to hear your comments. Please email or call today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professional.

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When Buying a Company, Get to Know the Employees

When Buying a Company, Get to Know the Employees

Acquiring a new company can be a rewarding experience, for obvious reasons. Profit is probably the biggest goal you have in mind when looking to purchase a company. Next, is productivity. You want the newly acquired company to be productive in nature, which will, in turn, increase profit. What about the people who work within the company?

That is where your heart should lie. People are what make the world go ‘round and what will make the company more profitable than ever. The employees should be your top priority.

Here are some ideas on how to make people your priority:

Make a Personal Connection

Meeting with employees personally rather than in a large group can really set the right mood.

It shows the employees that you really care about them as people, and not solely on the profit they can provide you. By having one-on-one time, or at least time in smaller groups can ultimately lead to more profit because the employee will feel they are valued as a person.

Let’s face it, everyone wants to feel needed and wanted, and what better way to show that you value someone than meeting with them in smaller, intimate groups rather than in a larger, more intimidating setting?

Have Open Communication

Company acquisitions can cause a lot of anxiety for employees. They are worried about what is going to happen, who is taking over, etc. It can be a scary feeling when you don’t know all of these things, mainly because many of us have families to support. This can happen with your current employees as well. No one wants to wonder if they still have their position when a new company takes over.

Honesty is the Best Policy

Be upfront and honest with your current and new employees. Be compassionate and understanding. If you must do some restructuring, honesty sooner rather than later is the best thing.

Once trust is broken, it’s hard to get it back and the company profits, along with everything else, start a downward spiral. Don’t let this happen. Don’t make promises that can’t be kept. Once the reputation of a company has tarnished, it is difficult to get a good reputation back. Address the issue honestly and move on.

The people you are inheriting are what will make the new acquisition a successful one. Show the employees that you really value them as people and not just a dollar, and they will really work for you, making the company productive and profitable.

We would love to hear your comments. Please email or call today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professional.

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Common Weaknesses in Leadership And How to Fix Them

Common Weaknesses in Leadership And How to Fix Them

We’ve all been around leaders that weren’t so great. In fact, if we are honest with ourselves, I’m sure we can see the areas in our own leadership style that is lacking. These are some of the most common weaknesses in leaders today and how you can fix them.

1. Micromanaging Employees

Micromanaging your employees is one of the worst things you can do as a leader. While some of those tendencies may be rooted in your own perfectionist nature, it more often has to do with a lack of trust for those around you.

In order for your employees to really rise to your standards and invest in the company, they must feel trusted. If they feel unappreciated for the job, their performance will go down. To make a win/win situation for both of you, ask them for checkups every month.

2. Becoming Stuck in Your Ways

One of the biggest weaknesses that leaders face is that they can get stuck in a certain way of doing things. If you have done something a certain way and it’s worked, it is really easy to think that is the best way of doing it. But, when you trust your employees’ feedback, invest in your own development, and stay flexible, you will be able to lead well.

3. Wanting to Be Popular

Unfortunately, you are not always going to be popular with your employees. As a leader, you can get accustomed to the attention and desire to please everyone. No one wants to be perceived as “the bad guy”.

As a strong leader, you have to be willing to make the tough decisions, even if it doesn’t make you popular with your team. Also, find ways to communicate with your employees, that while you heard them, you are making the choice that is best for the greater good.

4. Do What I Say and Not What I Do

You must lead by example. It’s really easy to tell your employees you have one set of expectations out of them, but then do the exact opposite yourself. When you say one thing and do another, it will cause your team to feel resentment towards you.

5. Not Being Clear With Your Expectations

In order to lead your team well, you must provide them clear expectations. Give them a goal and set up checkpoints along the way. Tell them the timeline you expect from them and at what points of the process you need them to check in. When they know what you need from them every step of the way, they’ll be able to meet those expectations.

Need help? Contact us today!

Gary Brunson
gary@myclearfocus.com

Debra Rider
debra@myclearfocus.com

574.361.2674

Sustainable Growth & Profit Consultant, Coach, Mentor and Counselor/Therapist for Business Owners and Professionals.