Key Performance Indicators
The role of the entrepreneur is to spot a trend from the fewest facts. How can you spot trends if you don’t have current information at your fingertips? Suppose your third largest customer has stopped ordering from you…are you set up to notice or are you too busy? When you started you knew everything because you controlled it. As your business grows you have to find new ways to replicate that hands-on knowledge with systems that deliver the information you used to have at your fingertips. How are you going to do that? | | | |
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Any company that sells time has what amounts to an inventory of future hours that its clients have committed to buy from it at an agreed rate. This commitment may either be firm or contingent on future events, but it is important to find a way to calculate the size of the inventory on hand at any point as this is an important measurement of workload and ultimately of future revenues. | | | |
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