It's more like the spinning plates way of running a business. ![]() Managing your own business can feel like a constant battle to stay on top of the new situations that crop up every day.īut flip-flopping from one situation to the next isn't managing something. If you don't know when something is working or when something that was working has stopped being effective, how will you know when you need to make a change? Or when you have the option to double down on success? You don't manage anything unless you measure it No matter what kind of business you run, that's not a position you want to be in. If you're not measuring your KPIs and setting a benchmark for what “success” means to you (even if it is just regular income and steady work), you are setting yourself up for a future where shocks and poor performance can come out of nowhere. In almost any industry you care to name, changes happen suddenly and unpredictably. ![]() The problem is that the world isn't a status quo kind of place. Many small business owners are content with maintaining the status quo. If you don't track some key metrics, you'll never know whether your business is succeeding. ![]() If you aren't measuring your success in business, you are setting yourself up for tough times.īecause the one business situation you never want to be in is one where you don't know the situation you're in.Īre you attracting a reliable number of new clients? Are your existing customers staying with you? What is your cash flow like? Track the right metrics to get the most from very little
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