Simply Business Advent Calendar Tip 10 - Identify your KPIs

Christmas is nearly upon us. In honour of the festive season we have put together our very own Simply Business advent calendar. Each day we will be offering a new business tip - so keep checking back!

Tip 10 - Identify your KPIs

Key performance indicators (KPIs) are an important tool to help you measure the success of your business.

Common KPIs include customer attrition rates, profit per transaction, turnover and so on. But every firm has its own unique set of indicators that should be monitored. Consider what is important to your business (remembering that it might not be practical to measure this in numerical terms) and develop a way of monitoring these factors.