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Key Performance Indicators, or KPI’s, are how we track our progress towards an intended result. KPI’s allow us to focus on what’s important for our business, build a strategy to advance our business towards that intended goal, and then gather the analytical data necessary in order to evaluate our progress.

Managing your KPI’s includes setting a target, that is to set your goal and then track your progress against that goal, and then manage your leading and lagging indicators. These indicators are exactly that, they indicate your progress in attaining your target. A leading indicator is your data input that predicts your future success, and lagging indicators are the result of implemented system. Leading indicators should help you determine whether or not you’re on the right path, while lagging indicators will tell you whether or not the system is actually working.

If you are a business owner or manager and you have any questions or concerns about handling your own business finances, or even if you have encountered any problems recently and would like to talk to someone about how to resolve them, please reach out to us.

Phone: (800) 381-2989
Email: [email protected]
Website: www.sbsaccountants.com

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