Pick your Top 8 KPIs from this list of Top 30 SME KPIs
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Here is a comprehensive list of the Top 30 SME KPIs SMEs should consider :
* Financial Indicators – 10 KPIs
* Business Performance Indicators – 7 KPIs
* Business Generation Indicators – 7 KPIs
* Employer/ee Based Indicators – 4 KPIs
* Risk Indicators – 2 KPIs
This list is by no means comprehensive and there are only indicators – use this information to highlight where to investigate further.
WARNING:
This Top 30 SME KPIs list is a menu not a banquet!
(don’t use all of these at once)
Here is what to do next:
- Step 1 – Don’t use them all!
- Step 2 – Choose 8 and build the data collection and reporting of these top 8 into your weekly reporting routine. It is easiest to setup a spreadsheet where you track the data and then create a set of graphs so you can see improvements. Remember, you can chop and change your top 8 KPIs every six months or so as you focus on new areas of your business – but start by setting up, and then stabilising, a few at a time.
For smaller SMEs the suggested break of your Top 8 is a mix of the following:• Financial – three
• Performance – two
• Business Generation – one
• People – one
• Any other vital parameter – oneWhen deciding which 8 are the most important make your choice based on your current business strategy for profitable growth offset with reducing risks to the business.
- Step 3 – If you are a big enough business to have departments then the Director’s ‘Top 8’ will reflect the above list ; however every department should also have its own top 8 which more heavily reflects their departmental focus.
e.g. The sales department may have: Two Financial, Five Business Generation, One Performance ,One People , and One measure for Market Environment.
Top 30 SME KPIs – THE LIST!
Here is a sneak peek at what the list contains; – to get all 30 KPIs you need to download the full checklist…
Ten Financial Indicators, here are the first four:
- Profitability – Profit Margin
- Solvency – Current Ratio
- Gearing – Debt to Equity Ratio
- Work-in Progress – WIP Turnover
Seven Business Performance Indicators, here are the first two:
- Performance against SLAs
- Quality of product or service
Seven Business Generation Indicators, here are the first two:
- Revenue breakdown by Customer
- Revenue Breakdown by Service/Product type
Four Employer/ee Indicators, here are the first two:
- Employee Lifetime Value (ELTV)
- Employer Investment (ROI)
NOTE these are not personal performance indicators and so they apply to the business overall, not any one staff member.
Two External Indicators, here is one:
- Risk Levels – Reducing frequency and impact – consider, market, economic, geographic and demographic risks
For more information see also 6 Steps to Choosing Effective KPIs