What's your #PostCovid new normal? What's your #BusinessRecovery Plan? How will you know you're on track... and if your plan is actually working? #WeCanHelp you establish your critical numbers; to improve the KPIs that have the biggest impact
The Covid-19 crisis has created a “new normal” for businesses. Traditional ways of working are being challenged and we now need to innovate, adapt, re-engineer, and reinvent the way we work. Lockdown gave us time to consider our options, but two important questions often remain unanswered:
It goes without saying that our success needs to be measured. But it’s important for us to know what to measure. Your critical numbers are the levers that, if pulled, make the biggest impact to your results. Choose four or five critical numbers to measure. These may vary between businesses, for example, most businesses should know their minimum viable sales number per day or week for survival. Likewise, knowing the gross margin needed to cover your overhead costs and living expenses will be critical for many businesses.
Some tailored critical numbers might be:
If you need help working out what your critical numbers are or how to measure them, let us know.
“Measurement is the first step that leads to control and eventually to improvement.” - James Harrington
We are here to help, contact us today:
Brew Accounting Pty Ltd
Phone 0405 027 250 | Web brewaccounting.com.au
Suite 7/104 Crown St, Wollongong NSW 2500
Content originally published by BOMA. We have updated some of this article for our readers