The Key to KPI’s – Key Performance Indicators (KPIs) are standards used to measure business performance. As a business owner it is important to understand how you rank compared to your competitors. Financial institutions, stakeholders, and prospective buyers use KPIs to analyze credit worthiness, business health, and business worth. KPIs … Read more >
Productivity in the Work Place – Everybody talks about it, but how do you measure it? One of the key measures for employee productivity is sales per employee. This key performance indicator is used to measure the efficient use of resources, your employees. The higher your sales per employee number … Read more >
Business inherently has risk. Successful business owners embrace risk creating their own opportunity. They began their business embracing the question: “What if…?”
There are two characteristics to every risk; consequence and likelihood. Consequences can range from mild to catastrophic, the insurance industry labels this as severity. Likelihood can range from … Read more >
Inventory is one of the biggest investments you will make in your business. Your inventory turnover ratio tracks the number of times or cycles new inventory hits your shelves each year. In addition, it measures the liquidity of your product and your ability to effectively manage your stock. You can … Read more >
Most business owners don’t ask, “What is my business?” They know why they started their business and what they want to accomplish. Often they miss the core of “being in business”.
The Danger Zone is the end result of an owner not paying attention to their business.
Every company requires … Read more >