Leading vs. Lagging KPIs – What Successful Companies Measure

LeadingKPIOne of the definitions we have provided in this series was the definition of a Key Performance Indicator (KPI). Per author David Parmenter in his book “Key Performance Indicators”, A characteristic of a KPI is “non-financial in nature that can be measured daily yet can have a significant impact on operations”. For my financial colleagues, that can be a head scratcher as we are always thinking of P&L and Balance Sheet items for metrics which tend to be lagging KPs.Financial statements are merely the scorecard for the results of the KPIs. So what measures of performance can we use as leading indicators of potential issues? This blog will provide some examples. Read more of this post

Human Resources Key Performance Indicators

Downtime Leads to Higher Business Value

Key Performance IndicatorsKey Performance Indicators (KPIs) are designed to help us better manage our businesses. In his book Key Performance Indicators: Developing, Implementing, and Using Winning KPIs, David Parmenter defined a KPI as something that is non-financial in nature, can be measured daily, and can have a significant impact on operations.” In this article, I’ll be discussing human resources KPIs and offering tips for aligning your business’s needs with the need for personal downtime. Read more of this post

QuickBooks Business Analytics with webKPI

QuickBooks Business Analytics with webKPIwebkpi-logo_no-shadow.jpg

Sleeter Group Blogger Charlie Russell does a review on webKPI for the QuickBooks community. Read more of this post

Gross Profit KPIs: Tips to Beat the Margin

 “I never lost money turning a profit.”

Bernard Baruch wrote that straightforward statement about the importance of making a profiGross Profit KPIst. In order for any business to be healthy, it must have the best gross profit it can possibly achieve. Bottom line – it’s the number one thing that contributes to paying salaries, rent, marketing, and all the other activities involved in running a business. Yet, how many accountants even know what their gross profit percentage even is? Read more of this post

Why Business Coaches Should Implement KPIs

Author Alex Noble wrote in Sunshine through Shadows, “Success is not a place at which one arrives, but rather the TigerTailspirit with which one undertakes and continues the journey.” Most people enjoy a sequel, so to borrow from Hollywood, I’ll will continue the journey with guns blazing on how to implement Key Performance Indicators (#KPIs) by discussing why business coaches should implement KPIs. Read more of this post

Implementing KPIs – Tiger by the Tail

TigerTailYou started the discovery process to identify the top 10 Key Performance Indicators using tips from my last column, “Not All KPIs are Treated Equally”. Remember the 10 KPIs selected shouldidentify the now so you can take corrective action. Now the question is how best to implement and empower the organizationto adopt these metrics? This column will provide some guidance to assist with your implementation. Read more of this post

Not all KPIs are Treated Equally

KPIThe DNA of a #KPI (Key Performance Indicator) can vary in importance based on how an organization leverages it. In my opinion, there are no bad KPIs. So what allows a KPI to rise to the top of business behavior management? Properly developed KPIs can serve as building blocks for the strategic direction of the company. As I will show in this article, not all KPIs are created equally, but they do provide an excellent foundation for future management excellence. Read more of this post