Using KPIs to Grow and Increase Profitability
Using KPIs to Grow and Increase Profitability – A Tech With Heart Interview with Andrew Frazier
KPIs are to a business owner what a compass is to a sea captain.
There is a saying, “if you don’t plan, you plan to fail,” and most would agree that in business, it is imperative to have a plan. What measures does one take to implement that plan? How do you know if the plan is working, or if it needs tweaking?
The best-laid plans are always subject to change, and that goes with business plans too.
The 2020 decade has been far from ordinary. Standard business practices went out the window during the height of the pandemic when everyone was sheltered in place. This disruption in the “norm” has greatly affected businesses, large and small, across the globe, even to this day.
Tech With Heart Foundation is on a mission to empower small business owners and entrepreneurs to embrace technologies, systems, and strategies, that will help them gain a competitive advantage, so they can grow their businesses in a rapidly changing digital environment.
KPIs are a super important measuring tool for helping business owners navigate through the daily, weekly, monthly, and yearly decision-making processes, that will ultimately lead their business to success.
In this episode of the Tech With Heart Show, Michelle Calloway, Media, and Technology strategist, interviews, Andrew Frazier, MBA, CFA, CFO, and Founder of Small Business Pro University, about identifying KPIs, and what decisions should be made with that data to grow revenue, increase profitability, and possibly obtain financing.
In this interview, you will learn:
What are KPI’s and why are they important?
How do you develop KPI’s? – tech systems to obtain timely and accurate info
How do you manage KPI’s? – workflow management system
