Its easy to accept the status quo and measure what you have always measured in your business.
But to make your business more successful you must start measuring what matters the most to your customers.
You must start measuring your customer-facing KPIs (Key Predicative Indicators)
This might seem like a daunting task and if you asked your team what matters most to your customers the list of KPIs would probably be lengthy…
BUT if a complicated business such as Continental Airlines can simplify their customer facing KPIs to be just 3, then so can you.
The secret is to keep it simple – put your business plan onto just one page… and keep it on one page, even if you make changes along the way – keep it simple.
So how do you create a simple ONE PAGE plan for your ENTIRE business?
Here are a few tips to help you get started… oh and don’t be put off – the success of your business depends on simplicity…
1. Be clear on the goals of your business, create SMART goals and change them if necessary just as Continental airlines did.
2. Work with your team to discover what your customer-facing Predictors are, then simplify them to what matters the most – remember you only have one page.
3. Work out your sales and marketing predictors – to grow your business you need new customers – so what are your best marketing KPIs
4. Work out your cost and cash predictors – there are likely to be one or two big spends within your business – salaries, raw materials etc. – work these KPIs out – these matter to the successful flow of cash in your business
5. Work out your key financials – turnover, cash in bank and profits – you already know as a successful business owner how important these KPIs are to your business
6. Track your KPIs at least every month with your team and test, adjust and improve if needed so that they work to grow your business
Click here to read how Continental Airlines used SMART goals and a Business One Page Plan to help the profits of their business soar and how this simple yet very successful approach can be applied to your business.
Alternatively, contact us at your convenient if you need help creating a bespoke business plan. We have decades of experience and we’d love to help.
|Strategic planning||Business coaching|