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Lesson 4 – Setting up your KPI’s

When you are setting up a Key Performance Indicator (KPI) you basically want to answer a few questions.

  1. What is your desired goal?
  2. Why does this matter?
  3. How can you impact this KPI?
  4. Who is responsible for the KPI?

By answering each of these questions for your KPI’s you’ll build a strong foundation for being able to identify when growth occurs, when it stagnates, and when you are losing ground. Ontop of this you’ll want to make sure your KPI’s follow the SMART framework. That means that your KPI’s are:

  • Specific
  • Measurable
  • Attainable
  • Relevant
  • Time-sensitive

Measuring things that are too vague, can’t be properly assessed, aren’t realistic, relevant or can occur in a reasonable time-frame aren’t useful to making informed decisions. 

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Key Takeaways