Rachel Cox, Raleigh Mompreneurs

KPI’s The Key to Business Success

So we start with what are KPI’s?  KPI’s are Key Performance Indicators.  The numbers do not lie.  It is important to determine what activities you need to do to produce the results you want for yourself and your business.  

Goals-you need to establish what your revenue or business goals look like.  Some people have daily, weekly, monthly, quarterly or annual goals.  You decide what makes sense for your business.  I personally have an annual dollar amount that I want to achieve.  I have written that dollar amount a white board, in my office, at eye level.  I have to look at it every day to remind myself what I want to accomplish.

The key to any activity is to make sure it is realistic.  You do not want to set yourself up to fail before you begin.  Most people start with what I call a “Push Goal”.  This is where you push yourself to see what you can accomplish in a day, week or a month and then set a realistic goal.  Write your activity goals down and start making them happen.  Keep track of your activities because the numbers do not lie.       

My Key Performance Indicators encompass several different activities.  I do a minimum of 2 networking events per week and at least 2 one on one’s.   I make a minimum of 50 dials per week.  In order to make 50 dials a week I have to establish call blocks on my weekly calendar.  This is an activity I struggle with the most-I have to push myself to make this happen and sometimes I fall short.  From the activity I should have at least 5 Introductory Calls per week-where I am talking to someone who has potential to own their own business.  From that I should get a minimum of 2 follow up calls, which means they are moving in the process.  Finally I should get at least 1 options meeting per week based on those numbers, which means they are looking at businesses seriously. Keep in mind that other activities that may be “Key” for your business could be:  emails, Facebook, Linked In, Newsletters and presentations to name a few.  The thing you have to think about is what is KEY-the most important activities that you do that will make or break your business.  

I have established this as my baseline.  I think a good start for everyone is to establish a base line and keep track of what you accomplished each day, week or month.  This is based on your business.  I look at my performance weekly and monthly and determine if I hit my activities.  Then I determine if I am on track to get the dollar goal I have set.  If I did not hit my activity goals-I review my month and determine what I might need to change to make them happen or see if another activity made more sense.  The key is to really look at your activity and see if it is moving you toward your goal.  I have changed my goals sometimes quarterly, but I caution you to give your original activity goal at least three months before you make changes.

The real key is to hold your-self accountable.  Remember you wanted to own your own business for a reason.  I have pictures of my daughter on my office wall……my daily reminder why I am working on my own business.  In order to keep this lifestyle I just have to meet my activities—then activities here I come.

Rachel Cox, Raleigh Mompreneurs

Rachel Cox
E-Source Coach with The Entrepreneur’s Source
(919) 521-8480

Cary Heise
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