How To Setup KPI's (Key Performance Indicators) That Drive Performance For Everyone In Your Company
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- Опубліковано 17 жов 2024
- Check out the "Control the Controllables" video I mentioned here: • OLD: "Control The Cont...
Any numbers nerds out there? 🤓
In business, it’s important to know your numbers.
It’s also important that EVERYONE in your company have a number that they own, control, and improve.
If you haven’t heard of this before, it’s called a “KPI” (Key Performance Indicator)
KPI’s are a “scoreboard” that helps everyone in your company know if they had a successful day, week, or month.
It also helps bring focus to the day-to-day craziness of your business.
Check out this video to see how we use KPI’s at Self Publishing School...
…and how you can setup KPI’s that drive performance for everyone in your company.
I also cover the biggest mistake people make when setting up KPI’s. I hope you’re not making it! 😜
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Do you have KPI's in your company? Which ones? Comment below and let me know!
As a small bus owner I set KPI’s for myself. It helps me track progress and correlate wins with activity.
You said a Financial Controller might use "how much cash do we have in the bank" as a KPI. How would that work exactly?
I'm having trouble seeing how that could be a measure of success in their job.
I established 5 simple KPI's a little over a year ago and wrote a program that sends daily/weekly/monthly feedback to employees with scores ranging from -2 to +2 in each category. We track the scores on a rolling 90 day scale and give awards and recognition in each category for top performers. Surprisingly some of my worst performers turned their performance around immediately and many of the most challenging performance issues have all but disappeared. This system works.
That’s so great to hear!
Can you show me how to calculate kpis for employees
I am interested to know more about your business logic and how exactly do you calculate and then automate it.
🎯 Key Takeaways for quick navigation:
00:03 *🎯 Introduction to KPIs*
- Explanation of KPIs and their importance,
- Common mistakes entrepreneurs make with KPIs.
00:58 *📊 Leading vs. Lagging Indicators*
- Differences between leading and lagging indicators,
- Example using sales team metrics (revenue, appointments, calls).
02:21 *🛠️ Setting KPIs per Role*
- Identifying critical drivers in business,
- Assigning KPIs to specific roles,
- Job scorecards and P&L ownership.
04:41 *📈 Accountability Rhythms*
- Importance of dashboards and scoreboards,
- Reporting frequencies (daily, weekly, monthly),
- Differentiating goals from standards, green vs. red days.
06:20 *📚 Recommendations and Conclusion*
- Book recommendation: "Four Disciplines of Execution",
- Fundamentals of scoreboards,
- Encouragement to comment and share KPI experiences.
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Love this Chandler! It tools months of tracking, but we finally found our leading KPI. It’s obvious looking back. Appreciate you 🙌🏼
Nice!! Great to hear
Hey! :)
The link for the guide doesn't work. Have you updated it or moved it somewhere else?
KPI's make it easy for me to do my job at the highest level
HI Chandler! What software do you recommend for measuring KPI? Thank you, thank you, thank you.
We mostly use spreadsheets and also Hubspot dashboards
@@ChandlerBoltOfficial Thank you Chandler.
Determine your KPI's is the challenge, but once you get it. Its the secret sauce!
Great content! Love your style. Where can I buys shirts like yours? =)
i want to setup KPI for an IT startup company, specializing on e-financial services.
Great info, what is the book again?
The 4 Disciplines of Execution - FranklinCovey
Geez man - you blurted out the name of the book so poorly ......