The KPIs Worth Tracking in a Growing Business
More reporting does not mean more control. A handful of well-chosen numbers, reviewed regularly, tells you far more than a dashboard with forty metrics. The right KPIs depend on the business, but these are a sound starting point.
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Five numbers to start with
Cash position and runway
How much cash is available today, and how long it lasts at the current rate of spending. Everything else is secondary to this.
Spend against budget
A monthly comparison of planned and actual spend by category shows where costs are drifting long before it becomes a problem.
Recurring costs
Subscriptions, retainers and service contracts tend to grow unnoticed. Tracking the total, and its trend, keeps them in check.
Margin by service or product
Revenue alone hides which parts of the business are actually profitable. Margin tells you where to focus.
Time to get paid
The average number of days between sending an invoice and receiving payment has a direct effect on cash flow, and is usually easy to improve.
Make it a habit
- Choose five to seven KPIs, not twenty.
- Review them on the same day each month.
- For each number, agree what would make you act.
