Why would any partner or senior manager only look back at their accountancy firm’s previous results?
What happens if you start measuring the actions your firm takes to ensure a successful future?
Canaries ensured the survival of miners in the last century…if the canary stopped singing the miners knew to get out fast as the air quality was poor.
So how about using canary-like KPIs for your accountancy firm?
If you measure what matters most to your clients, these measurements – your Key Predictive Indicators - will become your firm’s canary…
If you and your firm act fast when these Key Predictive Indicators change, then you and your firm are more likely to survive. If you act and adapt to what these Key Predictive Indicators are telling you, your firm’s success is more than likely also.
Keep a short and simple Business One Page Plan for your business. Record the Key Predictive Indicators that matter to your customers AS WELL AS your cost, sales and marketing measurements - Key Performance Indicators.
Keep all your numbers on one page and track them EVERY month (at least) so that nothing is lost or missed.
If you want any help on nailing down your firm’s KPIs in this way, please get in touch and I’ll be happy to help.
Or go here to learn how you can create your own Business One Page Plan of Key Predictive Indicators for your accounting firm.