Setting your business up to scale, by having the right products, processes and people, doesn’t always guarantee a smooth ride.
You can still experience difficulties, which you need to spot well in advance, before they damage your business.
This is why you need to have alerts in place – simple numbers that help you to spot that something isn’t quite working.
Whilst alerts vary from business to business, these are the 5 areas you need to focus on:
4). Customer Service
5). Scale Ratio (i.e. total salaries divided into revenue)
Then you can fix things or take evasive action.
When things go wrong, often it’s because people haven’t recognised the signs, which can be evident months in advance.
So, my final words of advice this week are to make sure your alerts are activated in real time.
This will give you 261 opportunities a year to put things right, not just 12 times because you’re only measuring performance every month (at best).