Imagine a football game where there was no scoreboard. The players don’t really know the score, what down they’re on, or how much time is left. That would be mass chaos, right? 

Think about it. If the team knows that they’re down 6 points with a minute left in the 4th quarter, they can create a strategy to get a touchdown and kick an extra point with the short amount of time remaining to win the game. They would know to bring their best offensive players in and make a play to make that happen.

If they don’t know the score, it would be tough for them to do the right thing. They might have an idea that they’re down, but they don’t know how much or what exactly they should do. 

Running a business without knowing your key performance indicators is like playing football with no scoreboard. Key performance indicators are simply quantifiable measures used to evaluate success. For a business that provides services, this might be the number of appointments per week, the number of new clients served, or the amount of additional services sold.

Hitting your goals and staying ahead of the competition requires more than just talent and hard work. It demands a strategic approach, constant assessment, and a thorough understanding of your team's performance. Just like watching the scoreboard at a football game, tracking your key performance indicators weekly will help you win.

Here are the four reasons why:

1. Real-time feedback. Your key performance indicators are your scoreboard. You don’t want to wait until the end of the game to see if you won or lost - you can’t do anything by that point. By tracking metrics weekly, you can stay on top of the business’s performance and make informed decisions quickly.
2. Goal alignment. In football (or any sport), every player knows their role and the overall objective. Similarly, in your business, every team member should understand their role and how it contributes to the overall company goals. Everyone should have key performance indicators assigned to them that move the business forward. Tracking them weekly helps ensure that everyone is on the same page with overall strategic objectives. This will help foster a sense of teamwork and accountability and provide stability in the business.
3. Course Correction. Just like a football team might need to adjust its strategy mid-game based on the current score, you might need to adjust yours mid-month. Tracking metrics weekly gives you the flexibility you need to pivot quickly before the issues become critical.
4. Motivation and Recognition. Much like players thrive on the cheers of the crowd when they score a touchdown, employees love positive feedback. Regularly tracking key performance indicators allows you to acknowledge and celebrate your employees’ achievements. Recognizing high performance encourages more of it. 

Treating your key performance indicators like your scoreboard will set you up to win. You’ll be more likely to hit your goals, ultimately leading to flexibility and stability in your business, as well as peace of mind.

If you’d like help to identify your key performance indicators and put a weekly scorecard system in place, book a discovery call here.