Who hasn’t dreamed of seeing their business prosper? ?

Which manager does not have the ambition to increase his turnover?, to acquire new markets, improve the customer experience and reduce production costs ? To achieve these goals, managers must equip themselves with the right tools. Fair and reliable data is essential to identify areas for improvement necessary for the prosperity of the company.. This is why more and more companies are turning to performance indicators (KPI) to guide their decision-making process.

The use of KPIs makes it possible to measure the performance of the company from several angles, which is a real key to achieving your growth objectives. Management strategies that allow measurable data to be collected are increasingly common in companies that want to move forward.. Thanks to the automation and digitalization of operations, the data is generated en masse and it is possible to obtain very precise performance indicators. Dashboards, who process the data used, even allow you to visualize the behavior of performance indicators in real time. This greatly simplifies strategic decision-making.

Focus on useful indicators
However, it is important to choose the right performance indicators to measure business growth. Indicators such as turnover growth rate, the conversion rate, customer acquisition cost and profit margin can be useful indicators for measuring business performance. It is important to focus on KPIs that are relevant to your business and can help achieve your desired growth goals.

KPIs are not an end in themselves
It is also important to understand that KPIs are not a silver bullet. Performance indicators are simply tools to help managers make informed decisions. They should not be used as an end in themselves, but rather as an aid to strategic decision-making. They enable managers to make more informed decisions and better manage their businesses, by providing them with measurable and objective performance data, and where the problems are, opportunities and risks.

In conclusion, Using KPIs is an effective way to achieve a company's growth goals. By focusing on relevant indicators and using this data, leaders can help their businesses thrive.

For more than two decades, Sylvie & Annick Miquel has accumulated solid professional experience by successfully supporting entrepreneurs, teams and leaders of all kinds, both in the private and in the public. In their capacity as BNI Executive Directors in Reunion, of BNI National Directors in Mauritius and John Maxwell Certified Coaches, they are determined to help entrepreneurs, their families and communities, to succeed and prosper thanks to their innovative and efficient business approach.