Realizing that you can only improve what you measure is a good way to think about KPIs. Often companies want to improve different aspects of their business all at once, but can’t put a finger on what will measure their progress towards overarching company goals. Does it come down to comparing the growth of last year to this year? Or, is it just about the cost of acquiring new customers?
If you’re nervously wondering now, “wait, what is my cost per deal”, don’t sweat it. Another growing pain of deciding on KPIs is discovering that there is a lot of missing information.