When measuring the success of your firm it pays to keep it simple…
When measuring the success of your firm it pays to measure what matters most to your clients…
Follow in the footsteps of Continental Airlines who turned the airline from a failing one into a flying success by measuring just 3 KPIs…3 KPIs that mattered most to their customers…
Number of on-time departures/arrivals - speed of delivery KPI
Number of lost luggage – quality KPI
Number of customer complaints – customer satisfaction KPI
Keeping it simple, and measuring what’s most important to your clients will drive your firm to improve the performance in those areas.
Holding your team to account in regular weekly or monthly meetings on those numbers will drive up the performance from your team.
When you work on a handful of KPIs that matter to your clients and keep the recording of the results simple, you will, like Continental Airlines, dramatically improve your firm’s results.
Get your KPIs all on one page…
Research done by software company Exact shows that firms with a business plan are more successful than firms without one.
A plan gives you a purpose and acts like a rudder, but it must be simple, it must be one page and it must be used by the whole firm.
Its no good writing a business plan if it then sits in your desk drawer…
So why a business plan on one page?
Its deliberately short, which means it can be easily shared with the whole team
You can only have a handful of client-focused KPIs
It’s simple as it must all fit on the one page
One page means you are really focused on a few KPIs, rather than being focused less on many KPIs
The team will be more committed to its success, meaning you are all taking action to improve the results of your firm.
Used correctly, a one page business plan with a small number of client focused KPIs you refer to frequently (ideally weekly or at least every month) will allow you to predict and shape the future success of your firm.
Click here to learn how to create a one page plan of KPIs relevant to your firm.