{"id":225467,"date":"2023-07-25T18:01:35","date_gmt":"2023-07-25T18:01:35","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/tracking-your-atlanta-companys-kpis-effectively\/"},"modified":"2023-07-25T18:01:35","modified_gmt":"2023-07-25T18:01:35","slug":"tracking-your-atlanta-companys-kpis-effectively","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2023\/07\/tracking-your-atlanta-companys-kpis-effectively\/","title":{"rendered":"Tracking Your Atlanta Company\u2019s KPIs Effectively"},"content":{"rendered":"
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Raise your hand if you or your workers, in any way, still work remotely post-pandemic. <\/p>\n

It\u2019s a common enough reality \u2014 maybe more so now even than 2020. Working in sweatpants from the comfort of your Atlanta home is infinitely better than dress shoes and uncomfortable desk chairs \u2014 and cheaper than paying high business space rent prices.<\/p>\n

But with so many companies going remote and giving up their brick-and-mortar space, it\u2019s caused a bit of an office space crisis in major cities like NYC (up to 20% of spaces being unused nationwide). That\u2019s looking like an 800 billion loss for urban office real estate value \u2014  that\u2019s a KPI to pay attention to\u2026 and figure out alternatives<\/span><\/a> for (like converting said offices into rental properties).<\/p>\n

Getting creative with turning losses into profits is an important skill for you as a business owner these days.<\/p>\n

And I know you understand that. The past three years have forced you to figure out ways to adapt to new realities. <\/p>\n

But you couldn\u2019t do it without these really important things that are really the central figures of your business. Yes, I\u2019m talking about KPIs. <\/p>\n

But utilizing these performance indicators the right way is more than just printing a report. It\u2019s knowing which ones to set up, how often to track them, and how to organize them into something coherent you can actually use.<\/p>\n

And I want you to be able to USE them to keep you sharp and well-positioned for every economic moment \u2014 opportune or difficult. Your success matters to you\u2026 and to me.<\/p>\n

So, let\u2019s start that conversation here: calendly.com\/mark-perlberg-cpa<\/a><\/strong><\/span><\/p>\n

Tracking Your Atlanta Company\u2019s KPIs Effectively<\/strong><\/span>
\u201cPerformance stands out like a ton of diamonds.\u201d – Harold S. Geneen<\/i><\/span><\/p>\n

Measuring performance in your company is an indispensable tool for small business owners. The standard metric for that measurement: the KPI \u2014 or \u201ckey performance indicator.\u201d <\/span><\/p>\n

KPIs are performance quantifiers \u2014 recorded and tracked numbers \u2014 that have a specific and clear value, such as a dollar figure for increased sales over a certain period. They\u2019re how you see at a glance if your company is on course. You create KPIs by setting that goal \u2014 such as a doubling of profits in the next three years \u2014 and working backward to decide what has to happen and when.<\/span><\/p>\n

In many ways, KPIs formalize an instinctive method you have for measuring incremental success. The concept falls down, though, if you don\u2019t track your progress.<\/span><\/p>\n

So, how should you do that? And how often?<\/span><\/p>\n

Setting it up<\/strong><\/span><\/p>\n

This depends on your company\u2019s goals, but some common KPIs look at revenue (average profits, total revenue, profit margin); employment stats such as turnover, employee performance, and vacancies; customer service (average call time, customer satisfaction); customer retention and acquisition (and the revenue associated with each); and marketing (sales generation, overall effectiveness).<\/span><\/p>\n

Your specific industry might dictate use of other KPIs, such as website traffic for an e-commerce company, table turns for a restaurant, or rejections for a production line. Among other points:<\/span><\/p>\n