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Business Owner Insight Improvement

Prize Performance Business Performance Insight

Another way to grow your business is to provide you, the business owner, with the right insights that yield a stronger ability to drive profitable company performance.

 

Prize Performance can improve your business insights by creating your specific Key Performance Indicators (KPI’s) so you can measure what’s happening in your business as it happens, then set action plans to improve them. This means a custom business manager dashboard(s) that display the current information you or your managers need to see and understand your business so you can make adjustments to achieve your business goals.

 

Why are KPI’s important?

  • Measuring performance is a fundamental part of every organization, whether it is run by a private sector or a government sector.
  • Performance measures are used to evaluate organizational as well as managerial performance.
  • A key performance indicator (KPI) is a quantitative value that can be scaled and used for performance evaluation.
  • Organizations should use both financial and nonfinancial KPI’s when measuring employee as well as firm performance.
  • KPI’s should be aligned with business strategy, work environment, and employee incentives.

 

 

What are some examples of KPI’s?

Here are some examples of KPI’s. Your KPI’s will vary because of your industry, the nature of your organization and it’s uniqueness…

 

Revenue Quality Measures

Average revenue per customer

Revenue growth rates

 

Productivity Measures

Average revenue per employee

Number of customers served by employee

 

Marketing effectiveness measures

Number of unique customer phone calls

Number of unique website visits

 

Sales effectiveness measures

Number of sales opportunities

Sales close ratios

 

What may Prize Performance do for me in this engagement?

Identify your business goals, values, and mission

Review your past financial performance

Review business practices

Interview, as needed, business owner(s), employees, customers, vendors

Identify your top list of Key Performance Indicators (KPI’s)

Determine and/or create sources of needed information to support your KPI’s

Create processes to create and display your dashboard

Provide professional insight and analysis on your KPI’s

Provide training for you to learn how to read insights from the information

 

What may Prize Performance Deliver?

Processes and training for collecting and storing KPI information

Electronic dashboard to display metrics specific to you and your organization

Training for you to read and action dashboard metrics

 

What may Prize Performance teach me?

Action plans for metrics when metrics are out of tolerance ranges.

 

Remember, insights don’t always find you, sometimes you need to find them!

 

Call us today to discuss how we can do this for you!

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