Data & AI
KPIs every small business should track
The key performance indicators that show the health of your business, and how to keep them simple.
Key takeaways
- Track a handful of numbers that drive decisions
- Mix leading indicators with results
- Review them on a fixed rhythm
Key performance indicators are the few numbers that tell you whether your business is healthy and heading in the right direction. The trick is choosing a handful, not dozens.
A simple KPI boardAnimated
New enquiries▲
Conversion rate▲
Average order value▲
Cash in bank▲
Sales and marketing
- Enquiries or leads per week, by source
- Conversion rate from enquiry to customer
- Cost per lead or per customer for paid channels
Customers
- Average order value
- Repeat purchase rate or retention
- Reviews and complaints
Leading vs lagging indicatorsAnimated
Leading
vs- Enquiries
- Proposals sent
- Website visits
Lagging
- Revenue
- Profit
- Customers won
Operations and finance
On-time delivery, stock levels, outstanding invoices, gross margin and cash in the bank show whether growth is sustainable.
Keep a rhythm
Look at sales and enquiries weekly, finances monthly and strategic numbers quarterly. Put them in one dashboard so everyone sees the same picture.
Choosing KPIsAnimated
- Linked to a decision
- Easy to measure
- Owner assigned
- Reviewed on schedule
- Shared with team
Need help with this?
Tell us what you’re working on. Free estimate within 24 hours, NDA on request.