Pillar 3 - Information
Business Practices You Will Learn and Implement
- Create a company KPI (key performance indicator) report to track weekly activity and results so that your leadership team knows what’s happening and is kept accountable.
- Develop a system for measuring each department’s success by tracking activity and results against plan.
- Get your financial reporting in order. Generate accurate monthly financial statements within no more than a couple of weeks after the end of the prior month. Get P&L (Profit & Loss), balance sheets and cash flows.
- Survey the market systematically and regularly. Send out NPS (Net Promoter Score) surveys to your customers. Know where you stand and adjust your strategy or tactics accordingly.
- Invest in your management information system. Reduce employee time supporting processes and increase visibility with detailed analytics and reporting.