A template has been uploaded alongside this assignment. This is the first KPI report you will be submitting for your advisors to review.
However, KPIs, which stand for Key Performance Indicators, are unique to every industry, type of revenue model, and sometimes the company itself. So there is no one size fits all approach.
We have included general KPIs at the top. Minus Churn, these are relevant to every business, and as most business is moving to the “as a service” model churn is broadly relevant as well.
The second portion of the sheet has “Your KPIs” these are the ones that you choose as a proper fit for your business.
We have provided you with a list of KPIs organized by industry, but here is another copy:
Use these KPIs to guide you as you put together your own.
Tips and Notes:
- Don’t just look for your industry. Read the whole list and understand KPIs. You might find a KPI for another industry fits your business model well
- The list is large but not exhaustive. If you feel you have a KPI for your business that is not on the list include it
- You won’t be able to add values for every KPI, but that does not matter. List every KPI that would serve as a useful insight into your business or company and write it down. If one day it will have a value it belongs in the list so your Advisors can know if you are truly thinking your business through
- Again, we urge you to come up and list your own KPIs if you feel there is an aspect of your business ignored by the sheet attached.
- Please limit yourself to numbers, and utilize numbers and %s appropriately
- You will need to choose a time period for measurement. The template is set up for end of month. One month is the smallest unit of time to discuss things strategically.
- The template includes 3 historical periods and 3 forward periods. Please fill in as much history as you can. KPIs are sometimes useful as spot measures, but the real value of KPIs is for trend analysis
Here is the template: CohortKPItemplate-1555615932747
As a Bootcamp participant, you should use this template to track your company KPIs. Feel free to add charts and graphs of your KPIs on the side. Use this resource to guide your progress and performance as your business evolves.