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Archive - 09/03/2015

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Metrics for better business

Metrics for better business

Businessman Holding Graph

In an earlier article, I wrote about how the measurement of your business success should include qualitative measures as well as quantitative benchmarks.

I received a lot of email to ask about what quantitative metrics I thought were important in business. Now, I repeat what I said earlier, first, that qualitative metrics such as customer satisfaction and service delivery times can be just as important as quantitative measures. Secondly, that you need to define what you mean by success before you can choose the appropriate measures.
Having said that however, I thought I should deal with all those emails and provide a discussion on the types of quantitative measurements you might want to employ.
Howard from Sydney asked what might be some warning signs to watch out for.
Here are some quantitative metrics from your profit and loss account that can show your business is needing attention:-

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