When it comes to starting a business, and growing out of an idea it can be easy to get lost in the money in money out mentality. Suddenly every expenditure you make keeps you awake until 4 in the morning, and every sale you close keeps food in your fridge for the next month. What is sometimes overlooked is sustained growth and the best way to focus on that is to identify 4-10 activities you need to perform in order to generate business.
These activities will all be linked to their own KPIs (key performance indicators) and thankfully you can access an entire library of them at http://www.kpilibrary.com for free if you don’t know where to start.
With Follow The Hummingbird we have two KPIs we actively work on:
Coffees per week
2nd meetings per coffee
we discovered early on these engagements directly correlated with our growth. On good weeks we had lots of coffees and lots of second meeting conversions.
Identifying the activities you need to spur growth and creating a quantitative model to measure from makes growth feel achievable—suddenly you aren’t looking at a vague concept but hard numbers.
Listen to the most recent episode of my podcast: Interview with Nicole Allen from SPARC https://anchor.fm/followthehummingbird/episodes/Interview-with-Nicole-Allen-from-SPARC-e3j6ho