How to Successfully Measure KPIs (and Mistakes to Avoid)

Without knowing your key performance indicators (KPIs), how would you know the progress of your business efforts? 

KPIs are like health checks for your business processes and activities. Knowing that, how do you know which KPIs are important to measure the health of your business efforts, and which ones aren’t necessary?

This episode of the Process Breakdown Podcast with Dr. Jeremy Weisz features Carl Cox, an executive growth leader and strategic planner with over 15 years of experience in creating strategic plans and executing them.

Mr. Cox talks about the importance of KPIs, the most common indicators that lag your business’s operations, and the ones that improve them.

He also shares his first-hand experiences working with companies to improve their KPIs, the biggest mistakes companies are making with key indicators, and the things they should be doing instead.

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Key Resource List

* SweetProcess.com* 40Strategy.com

Show Notes

0:05 – Podcast introduction.

1:00 – Dr. Weisz shares the best solution for documenting standard operating procedures, SweetProcess, highlighting a 14-day free trial.

1:50 – Introduction of the guest speaker, Carl Cox.

2:20 – The guest shares how to know which KPIs to track and measure, and which ones to not waste time on.

4:21 – Mr. Cox talks about a construction firm he worked with and how they improved operations by 75% by discarding unnecessary KPIs.

7:25 – The guest speaker shares an example of lagging indicators and the common mistakes companies make when it comes to KPIs.

11:54 – The guest shares his thoughts on using tools and software for tracking your key indicators.

12:54 – The guest shares an example of an establishment that was tracking the wrong KPIs and how he went about solving this issue with them.

15:51 – Mr. Cox shares another problem that companies make when tracking KPIs.

18:30 – The guest talks about how to create a strategy for measuring KPIs and your sales channels, and how he does it.

21:56 – Mr. Cox talks about his experience at Lightspeed, a company he helped triple in size by removing a lot of process waste.

27:04 – Mr. Cox shares the first thing you should think about when it comes to KPIs.

27:59 – Outro

Guest Profile

Carl Cox is the founder of 40 Strategy, a management consulting company whose aim is to improve the bus...