How to measure business performance

Close up of a man using an iPad to look at different graphs

Measuring business performance is about so much more than a glance at the bottom line. The true picture of how your business is performing – then, now and in the future – is made up of many different strands and parameters, and it’s only through clear analysis and purposeful action that you’ll affirm your place in the market and move forward with confidence.

But perhaps you don’t have the time or the tools to drill deeper. That’s why many successful businesses turn to Firestarter. For over 10 years, our sales performance management consultants, tried and tested sales improvement processes and business training courses have pinpointed the strengths, pain points and positive paths ahead, for firms ranging from high-turnover corporations to ambitious start-ups. Whether you prefer to embed a Firestarter sales performance consultant in your team, or train your own people for company-wide synergy, we’ll tailor our service to match your unique needs.

Before you get in touch, here are some ideas to help you start measuring business performance.

Hold regular business performance reviews

‘Always look ahead’ is generally sound advice. But it’s also critical to reflect on past business performance, carefully assessing what went right (and why), what could have been better (and how), and most important, the steps you can take to fuse these lessons learnt into your future strategy. If you can’t see the wood for the trees, call Firestarter. Our sales performance management consultants will bring our core concept of ‘rhythm and rigour’ into the heart of your business, showing you how to fine-tune and refine your tactics, and keep your business performance in a constant state of upward evolution.

Pinpoint the KPIs that matter to you

Success looks different for every company, so it’s vital to nail down the key performance indicators that have the biggest impact on your business. Will it benefit you more to retain loyal customers who bring high lifetime value, for example, or do you stand to gain more from market penetration and winning new clients? There’s no limit to how deep you can drill, identifying everything from the marketing channels that give optimum return on investment, to the communication method (phone/email/online/in person) that brings you the highest engagement levels. But if these metrics seem bewildering, turn to Firestarter. Our sales performance management consultants can help you discover and digest the KPIs that count – then act on them.

Look beyond your business at the bigger picture

No business exists in a bubble, and you stand to learn a lot from studying the competition. You might be satisfied with your business performance, relative to last year’s figures. But by stepping back and considering both the context of your sector and the key statistics of rivals, you’ll be able to identify industry trends and refine expectations for your own business. Benchmarking data can be bought or obtained from a trade association – and if you need a little help to crunch the numbers or find your next steps, talk to Firestarter’s sales performance management consultants. We’ll put you ahead of the pack.

Assess your staff’s performance

During any review of business performance, it’s critical to pinpoint the roles and skills that are driving success, then ensure you attract and retain the people who can fill these gaps. Meanwhile, make it a priority to create an atmosphere where people are clear on what constitutes ‘success’ and have the support to pursue it. Once again, drawing on Firestarter’s central concept of rhythm and rigour, revisit your team’s performance down the line, assessing successes and failures, and refining your strategy accordingly. Keep your staff happy and effective, and you’ll ultimately see it on the balance sheet.

Four Businessmen having a meeting using a whiteboard with sticky notes on it

Choose the right Firestarter service for you

At Firestarter, our service is as individual as your business, and whenever you’re ready to drill into your business performance, we’ll be right alongside you. Perhaps you’ll choose to meet with us for a thorough and far-reaching business assessment, where we’ll explore your performance to date, suggest fresh approaches and spot opportunities. Or maybe you’d prefer to embed a Firestarter sales performance consultant into your team on a longer-term basis, giving you a dedicated point-man for business performance while you stay focused on the day-to-day.

Running alongside our consultancy services, Firestarter also offers a range of highly respected training courses through the Firestarter Academy. For example, our Better Business Development or Practical Business Planning courses give you knowledge and insights you can apply for tangible ROI. In both one-to-one and group sessions taught by our expert sales performance management consultants, these five-module practical courses will show you the sharpest picture of your business – and all the right moves to make from here.

Firestarter’s sales performance management consultants are ready to help you measure your business performance. Get in touch and let’s talk. 

Share this post!

Subscribe to receive sales insights to your inbox

You must be logged in to post a comment.