MONITORING YOUR COMPANY’S PROGRESS...

                                                                                                                          

Are you successful?

Are you getting better?

How do you know?

The simple fact is - most business owners do not have a set of "Key Indicators" that are monitored on a continuous and periodic basis. Yet without a report card, it seems impossible to know how you are doing. These indicators can come from various areas of the business and are in many cases unique to your business. Choose 3 or 4 or 5 from the list—any more and it gets cumbersome. When these are resolved, you can easily designate other new indicators to monitor. Give it some thought and let's try it going into Fall 2011.

Look at areas such as: (or any other meaningful ones you can create)

*  Gross Sales

*  Net Sales

*  Number of Customers

*  New Customers

*  Cost of Goods

*  Key Expense Dollars as a Percent of a Sales Dollar

*  Staff Hours per Sales Dollar

*  Accounts Receivable Days Outstanding

*  Employee Turnover

*  How many customers not re- ordered in18 months?

*  Financial (Balance Sheet/income statement) Ratios

*  Process Flow Timing

*  Owner Hours Worked per Week

*  Ratio of three largest customers to total sales.

*  Customer complaints.

*  Rework as total of output.

*  Material scrappage rates.

*  Meals/golf games. How many does the president have with key clients per week.

*  Owners hours 'on the job'.

Give it a shot! List your Key Indicators and Starting Point.  Let's Track In!

Key Indicator Definition (Formula)	Starting Point 1/Aug 2011	Check Point 1 1/Nov 2011	Check Point 2 1/ Feb 2012	Check Point 3 1 May 2012
Chris Wilkinson.                               Certified Business Behaviour & Attitudes Analyst.                Business Coach. Tel: (905) 275-2907 (Mississauga).                 E-mail: buspilot@bell.net