22 Nov Documenting Key Success Factors
Documenting Key Success Factors
What information will truly make a difference in the day-to-day management of the business? What are the key factors that indicate the business success or failure? These indicators may be financial in nature, or operational. In either event, what is being done to track and improve them? If some information is being captured manually and some through the software (and then manipulated externally), is there a way to create a custom report from one place? Some examples may include: number of new customers, length of time until a customer’s call is returned, how long does it take for a customer to be approached in a retail environment, dollar amount of add-on products, average dollars per sale, average dollars per hour, etc.
Think about the customer’s decision making process: Who, What, Where, When, Why, and How? What benefits would make the prospect want to by from this business? Then the trick is making them understand why they should buy now. Don’t just satisfy the customer, dazzle them! What information is needed to ensure that this happens?
Think “outside the box.” If only five pieces of information were known, what would they need to be to determine if the business was profitable or successful, or not?