Advancing with Key Performance Indicators

Profit Designers, we have reached the 100,000 downloads milestone that we’ve been talking about for a few weeks. Thank you to each and every listener! Because of this milestone and our commitment to being a gift from our gifts, we have the Tap the Potential Strategic Planner ready for you to download today. Use this link to get your FREE copy right now!

Do you ever feel like your business is taking over your life? I want to share with you a simple way to feel in control and in the driver’s seat of your business. This happens by utilizing a few key performance indicators, and last week’s show was about getting started with KPIs. It’s not enough to get started, but you have to keep moving to advance with KPIs in your business. Let’s talk about the next steps on today’s show!

Profit by Design is a Tap the Potential Production.

Show Highlights

  • How tracking KPIs consistently can help you spot potential problems before they become big problems
  • An example of how our KPIs tell us what podcast listeners want to hear–and why our downloads are steadily increasing past the 100,000 mark
  • How continual tracking of KPIs allows you to take preventative action to correct cash flow problems
  • How to create your dashboard (spreadsheet) with high-level KPIs:
    • Your revenue goal
    • Your percent of goal achieved weekly
    • Your revenue booked weekly
    • Your operating expenses
    • Your weekly sales
  • Why you need to track KPIs in key areas of your business using the ACDC model (In Clockwork, Mike Michalowicz identifies the ACDC model: attract, convert, deliver, and collect.)
    • Attract: Refers to your marketing efforts.
    • Convert: Refers to your sales.
    • Deliver: How well your team is delivering around your sweet spot (your net promoter score)
    • Collect: Collecting payments for services delivered
  • How the employee net promoter score can help measure team happiness
  • Why it’s important to establish a baseline for each KPI, set quarterly goals with your leadership team to improve KPIs, and set aside time to review KPIs weekly

Links and Resources:

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About The Author

Dr. Sabrina Starling, The Business Psychologist and international best-selling author of the How to Hire the Best series and The 4 Week Vacation™, is the founder of Tap the Potential and host of the Profit by Design podcast. At Tap the Potential, we work to free business owners from the constant demands of a growing business.

We believe work supports life, not the other way around. Clients in our Better Business, Better Life coaching program have more time for what matters most and more money in their bank account than they’ve ever had. Next, we send them off on a 4 Week Vacation™ to celebrate their hard-earned journey to take their life back!

Dr. Sabrina and her team at Tap the Potential are on a mission to change the story of entrepreneurship from one of long hours, grinding it out, to one of sustainably profitable businesses that support and enhance life. The Tap the Potential Solution™ and our Tap the Potential Family of Business Owners are disrupting small business as usual. We are on our way to making the Tap the Potential Solution™ the mainstream model for growing business.

By 2023, 150 Tap the Potential clients will have taken 4 Week Vacations. These are the trailblazers, role modeling what’s possible for entrepreneurs. In many entrepreneurial circles, it is becoming more and more common for one entrepreneur to ask another, “Have you taken a 4 Week Vacation™?” (as opposed to asking “How many employees do you have?” or “What is your annual revenue?”). Taking a fully unplugged 4 Week Vacation is rapidly becoming the recognized symbol of entrepreneurial success.

Never one to accept the status quo or back down from a challenge, Dr. Sabrina’s How to Hire the Best series grew from her desire to solve the toughest hiring challenges interfering with her clients’ growth and profitability. What sprang from her experience working with entrepreneurs in rural areas catapulted her into becoming the world’s leading expert in attracting top talent in small businesses—no matter what hiring challenges those businesses are facing—and earned Tap the Potential’s reputation as the go-to resource for entrepreneurs committed to creating Great Places to Work with thriving coaching cultures and highly engaged team members working from strengths.

As The Business Psychologist, and with her years of driving profit in small businesses, Dr. Sabrina knows what it takes to find, keep, and motivate exceptional performance out of your biggest investment—team members.