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Company Milestones and Metrics

“What gets measured, improves”

Maintain up-to-date key statistics on your business.

In business, progress is often measured by the lives we effect. It must also be measured “by the numbers” to sustain growth, profitability, customer and key staff retention. These are also known as “Key Performance Indicators” or KPI’s.

There is no “magic” to this process, only the discipline to set up and track the critical metrics. Since what gets measured improves, it is well worth our time and effort to do so. The following represent some of the categories that need attention on a consistent basis.

If you pay attention to the numbers in the short run (daily, weekly, monthly), you won’t have to worry about them in the long run!

Financial Statements:

  • Balance Sheet
  • Profit and Loss Statements (Comparative month and YTD)
  • Rolling 12-month Profit and Loss Statements
  • Cash Flow Statement
  • Learn how to read your numbers and set your benchmarks (Business Financial Monthly Review Items)
  • For the Company and for each Program:
    • Set the Gross Revenue Targets
    • Establish the Expense Percentage Range Norms
    • Pay attention to the TRENDS
    • Return on Investment (ROI) | Return on Assets (ROA) | “Triple Overlap” Profit Concept

Determine and Track Net Profit Factors – per Program and Per Class:

  • Pricing
  • Instructor:Student Ratios
    • Target
    • Actual
    • Payroll Percentages
    • The above have significant combined effect on the Net Profit Range Norms 

Program Participation Numbers – Overall Company and per Program

  • Targets Numbers
  • Family Numbers
  • Student Numbers
  • Customer Interaction Opportunity (total “spots” per week) Numbers
  • Keep or drop Programs? 

Student Retention Rates – per Program:

  • Overall Program Capacity and Actual
  • Class Attendance
  • Testing percentages (%’s) advancements at each Level
  • Student Retention – percentage (%) by month or session (regardless of level or program)

Lead/Sales Pipeline: 

  • Sales Ratios – leads generated weekly and monthly
    • Appointments generated
    • Introductory or Trial Classes or Lessons Taught
    • Enrollments from Introductory or Trial Classes
    • Ratios to Retention or Renewals

Student Drop Out Rates (per Program):

  • 1 week – Number of Drops or Inactivations
  • 2 week – Number of Drops or Inactivations
  • 1 Month – Number of Drops or Inactivations
  • Monthly or Session Drop Rate (%)
  • Quarterly Drop Rate (%)
  • Annual Drop Rate (%)

Number and statistics give you the facts to look at your business objectively. Numbers are NOT the entire story, nor are they necessarily the #1 reason that we are in business. But … with great reporting, our “crystal ball” becomes much clearer. With increased profitability, we can do more for our families, our staff, our customers and our communities.

If you are interested in the KPI’s Lite or KPI’s Professional metrics, visit the FREE web site to get started.

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