Step 9 of Building a Better Business

Anna Stubbs • August 2, 2023

Monitor your progress to reach your targets

When you’re driving, there are certain things on your dashboard that you keep an eye on - your speed, your fuel level, and the engine’s temperature.

It should be the same in your business. You should have a business dashboard with 3-5 key things you’re monitoring regularly.

Use this four-step process to create your own dashboard:

1. Determine which Key Performance Indicators (KPIs) should be on your dashboard.
These KPIs should have the greatest influence on you achieving your goals. For example, it could be the average hourly rate invoiced, your gross margin for any job, or the average transaction value for a certain period of time.

Which of your KPIs, when increased or decreased, will have the biggest impact on your future results? Choose no more than five to measure and have on your dashboard.


2. Work out how to measure your chosen KPIs.
The measurement process should be automated wherever possible. Most accounting software will measure your financial KPIs.


3. Produce a simple one-page report.
Produce this either weekly, fortnightly or monthly to track your results and progress. Set aside time to go through this report every time it’s produced and share the results with your team.


4. Repeat these steps with your team.
Identify the KPIs each team member should be monitoring. These will be different from the KPIs for your overall business. KPIs help your team understand the definition of a great day’s work for them. Monitoring and reporting the KPIs regularly will help your team know if they’re on track.


“Successful businesses measure and count things… unsuccessful businesses either measure nothing, the wrong things, too many things, or finally, they measure the right things, but they don’t communicate the measurements efficiently.” - Dick Costolo

Reducing the uncertainty: strategic business reviews

By Anna Stubbs • July 24, 2025
In a world where evolving political events can change the market in an instant, and economic instability is still the norm, finding certainty in your business strategy is a rarity. Business plans and your overriding strategy are no longer written in stone. This means being flexible about your next steps and regularly reviewing your business strategy. Let’s see how frequent strategic business reviews can help you reduce the uncertainty.

Selling your business: getting a good deal

By Anna Stubbs • July 24, 2025
You’ve spent years growing your business and adding value to the company. Now it’s time to sell up, get a good deal and liquidise the equity you’ve had locked up in the business. In this series, we’ll give you all the advice you need to plan your exit, add value to the business, negotiate a great deal and define your new pathway once the business is sold. Let’s look at some important ways to achieve the best possible deal for your business sale. Selling your business is generally the end step in a much longer journey. If you’ve put together a detailed exit strategy, you’ll have been planning this sale for some time. The important thing at this point is to make sure you get a great deal and realise the best possible sale price – giving you the return you deserve for all your hard work. To put yourself in the optimum position when looking for a buyer, here are a few tips: 

If I’m working ON my business what should I be doing?

By Anna Stubbs • July 24, 2025
I’m sure you’ve heard about the need to work ‘on’ your business as well as working ‘in’ your business. But have you ever stopped to think what exactly you should be doing? First some practical distinctions to compare working ‘on’ and working ‘in’.