What are KPIs and why are they important for my small business?
An example of an AI chatbot conversation about understanding KPIs for small businesses.
What are KPIs and why are they important for my small business?
KPIs, or Key Performance Indicators, are measurable values that demonstrate how effectively your business is achieving key objectives. They help you track progress and make informed decisions.
Can you give me some examples of KPIs I should consider?
Sure! Common KPIs for small businesses include sales growth, customer acquisition cost, customer lifetime value, and net profit margin.
How do I choose the right KPIs for my business?
Choose KPIs that align with your business goals. Consider what aspects of your business you want to improve and select metrics that will help you measure progress in those areas.
How often should I review my KPIs?
It's recommended to review your KPIs regularly, such as monthly or quarterly, to ensure you're on track and to make adjustments as needed.
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