Key performance indicators (KPIs) are the core metrics that you and your investors can measure to determine if your business is financially healthy and on track to meet its goals. Tracking KPIs can also give you insight into what’s driving or hindering your business.
Key Performance Indicator (KPI) Definition: A Key Performance Indicator (KPI) is a quantifiable metric used to evaluate the success of a business or specific goals and objectives. KPIs provide valuable insights into the performance and progress of various areas within a small business, enabling owners to make data-driven decisions and measure their company's performance against desired targets. These metrics can span different aspects of the business, such as sales, customer satisfaction, financial health, operational efficiency, and marketing effectiveness, helping small business owners track performance, identify areas for improvement, and drive strategic decision-making.