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Most mid-market companies ($5-100 million in sales) don’t starve for lack of data. Typically they choke on too much data that is not used in running the business.

My suggestion is to choose 6-8 key indicators that assess the health of your business that can be looked at on a weekly basis. These vary widely according to your industry, but may include things like:

Accounts receivable/payable
Daily sales by department
Labour to sales ratios
Raw product costs
A sales funnel (which prospects are being worked on currently?)
Short and long term debt repayment

These numbers raise great questions and lead to critical discussions.

What are your key indicators? Who sees them? How often?

Develop your dashboard and watch the results. You can’t manage a secret.

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Written by Trevor Throness

Trevor is a veteran coach, keynote speaker, and the author of the book “The Power of People Skills” released by Career Press NY in 2017. He’s also written for or been featured in places like Forbes, Inc, The NY Post, The Globe and Mail, Entrepreneur, CEO Magazine, and numerous podcasts and interviews.

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