Tip 9) Even small & micro businesses need a Business Dashboard!

The dashboard in your car is crucial. It shows you the health of your car – how much fuel, oil and water you have. It shows whether you have a light out, engine problems or a flat tyre. It shows you how fast you are going and whether you have enough fuel to reach your destination.
 
Your business dashboard is pretty much the same thing. It brings all your businesses KPIs (Key Performance Indicators) into one place so you can see the health of your business. A simple spreadsheet enables you to track these numbers every month. ​

So, what kind of KPIs go on your dashboard? There are literally 100s of things that can go on the dashboard, but many of them will be business-specific so this is the minimum I would expect to see:

• Cash at the bank
• ​Sales, gross profit % and net profit %
• Number of leads and their sources
• Conversion rates for each lead source
• Average spend of a customer
• Lifetime value of a customer
• Customer acquisition cost (how much it costs you to win a customer)
• B2B debtors total (and debtors average days)

If you want your business to pay you a proper income, then treat it like a proper business!

If you need help setting up your business dashboard, please give me a shout!

To your success
Jo Richings x

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