You can’t know if your business is a success unless you know how to measure that success. Metrics are a great way to chart a path for success and growth for your business and find ways to improve. Here are the top ways to keep an eye on your growth.
Check out the numbers. Money is pretty important when running a business. Look at the three main financial statements; balance sheet, income statement and cash flow statement. Are you cash positive? Is your business profitable? Are you steadily growing?
No one will let you know the honest truth better than your customers. If your customers aren’t satisfied with your product or service than ask for ways in which you can improve. Repeat customers and referrals by word of mouth can make your company grow rapidly. Don’t shoot yourself in the foot by ignoring customers once they leave the store.
Employees will also tell you the truth about where improvements can be made if you give them the space to do so. Conduct performance reviews on your employees and have them give you one as well. An open communication line between employees and owner gives you insight in to how happy your employees are and where there can be improvements.
No one thing is a great indicator of the success of a business. Rather it is a combination of different metrics that will show you how your business is doing and where you should make changes.
Business Assessment and Goal Setting Workshop
DATE & TIME: May 9, 2019, 12:00pm CDT
Address: Buda Public Library
405 Loop St
Buda, TX, 78610
Join Carleton for a lively discussion of how to grow your business by stepping away from the day-to-day operation to assess your situation and set and attain goals for growth.