Grab a cuppa, our latest update is here ☺️
Hi, how are you doing? Still trying to navigate the ripple effects of the recent Budget announcement?
This latest budget may have you reassessing your business’ priorities and as business owners ourselves, we completely understand the need to cut costs and scale back spending when faced with rising expenses.
HOWEVER, if your goal is to increase revenue and drive growth, be sure you’re strategic in your reassessment - particularly in developing your people and amplifying your brand and reach through marketing. These efforts will enable you to unlock the full potential of your business, even in challenging times.
When budgets are tight, access to accurate, real-time KPIs is crucial. Clear data allows you to measure ROI, make quick, informed decisions, and focus resources where they’ll have the greatest impact.
We’ll be diving into the importance of KPI setting, monitoring, and reporting later, offering actionable insights to strengthen your approach. But for now…
Here's a snippet of what we've been up to:
The Power of KPIs: Aligning Your Business Strategy for Optimal Growth
In today’s fast-paced business environment, having the right data at your fingertips is crucial. Key performance indicators (KPIs) are the tools that turn raw data into actionable insights, guiding your business towards its goals. But it's not enough to just collect numbers — you need to align those KPIs with your business strategy, monitor them regularly, and ensure they're driving the right actions.
In our recent article, our founder, Andrew Silver discusses how aligning your KPIs with your objectives can unlock your business’s growth potential, and why regular monitoring is key to staying on track. Read more...
Insights from others
The Future of Strategic Measurement: Enhancing KPIs With AI
- MITSloan Management Review
As businesses strive for smarter, more adaptive performance metrics, AI is playing a crucial role in transforming KPIs from mere measures to powerful sources of strategic differentiation. Research from MIT SMR’s recent BCG Artificial Intelligence and Business Strategy Global Executive Study and Research Project, highlights how AI-enhanced KPIs improve alignment, resource allocation, and profitability.
This article delves into how AI is reshaping KPI development, governance, and usage, enabling companies to predict and respond more effectively to changing market conditions and operational drivers. Read more...
To Drive Business Performance, You Must Understand KPIs
- Forbes
KPIs act as a compass, guiding companies toward their strategic goals by offering quantifiable insights into both financial and non-financial aspects of their operations. When paired with benchmarking, KPIs help businesses evaluate their performance against industry standards and competitors, providing clarity and direction for long-term success. Understanding and tracking the right KPIs enables business owners to make informed decisions, optimise operations, and motivate teams, ultimately improving overall business health.
In this recent article, Dr. Craig West, founder of Capitaliz, draws on over 20 years of experience helping business owners with succession and exit strategies to explain how KPIs are essential for driving business performance. Read more...
Time to reflect
In today’s challenging business environment, it’s more important than ever to make informed decisions that drive growth. With rising costs and ever-changing market dynamics, having access to real-time data on your business performance is crucial. Knowing where to allocate your resources and which activities will generate the best return can make all the difference in sustaining growth and staying competitive.
So whilst we’ve got you for a minute, we encourage you to ask yourself this:
"Are you truly clear on your business’s current performance, with real-time ROI data to guide your budget decisions and ensure you're investing in the right growth drivers during these challenging times?"
And if your answer is "no" or "not sure", it might be time to give your KPI tracking, reporting, and review process the attention it deserves. If you need assistance in refining your approach, we're here to help! 😉
In need of some inspiration?
We know ourselves that carving out time to reflect, read or even listen to a podcast can be tricky but if you do find yourself in that glorious position, here's the latest recommendations from the 360 team:
That's all folks!
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We hope you've enjoyed taking the time to read our newsletter, we'll be delivering our next update direct to your inbox in December but if you'd like to catch up in the meantime please just get in touch!
Thanks,
360 Growth Partners
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4wA good read. Thanks Anna Shepherd