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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

May 10, 2021

In episode 357 of Financially Simple, Justin looks at the process of formulating KPIs, KIs, and KRIs for your business.

When determining which indicators in each department of your business to track and how to track those indicators, there are steps that you can follow to make it a little easier. In this episode, Justin goes over the process and expectations you and your team should have when formulating and applying your business’s KPIs, KIs, and KRIs.

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00:45 - KPI Application

05:42 - It Takes Time

06:53 - Only the Owner and Management can Decide on the Details

08:23 - Your First Pass Will Not Yield the Best Results

10:25 - Don’t be Afraid to Change

11:20 - What is it that You Must Do to Have a Successful Business

12:48 - What is Your Goal for the Next 1-3 Years

13:48 - What are the Weaknesses of Your Business

14:23 - What Measurements Do You Currently Have in Place

15:18 - What Areas of Measurement Are Missing

15:50 - Summary



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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.