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

How poor cybersecurity can endanger your small business

By Anna Stubbs • September 9, 2025
Digital systems and cloud technology have revolutionised the running of the average small business. But with software systems comes the ever present issue of cybersecurity. And it’s not just the big league, like Boots and Marks & Spencers, that have to worry about getting hacked. A recent BBC News article highlighted how one cracked password is all it took for a ransomware gang to destroy a 158-year-old transport company – putting 700 people out of work. So, what can you do to increase your cybersecurity and keep your business, customer and finance information safe from hackers and malicious software?

Changes to Companies House filings: say goodbye to abridged accounts!

By Anna Stubbs • September 9, 2025
The Economic Crime and Corporate Transparency Act became law in 2023. But as the goals of the Act progress, it’s bringing about a number of different changes to accounts filing.  The aim of the Act was to strengthen the role of Companies House and the UK business environment, support national security and disrupt economic crime. At the same time, the Act helps to deliver a more reliable companies register to underpin UK business activity. These are all excellent aims. But one outcome of these changes to Companies House procedure is a major change to the way small and micro businesses file their accounts. Let’s look in more detail at what this could mean for your accounts.

Should you buy or lease your business assets?

By Anna Stubbs • September 9, 2025
There are certain items of equipment, machinery and hardware that are essential to the operation of your business – whether it’s the delivery van you use to run your home-delivery food service, or the high-end digital printer to run your print business. But when a critical business asset is required, should you buy this item outright, or should you lease the item and pay for it in handy monthly instalments?