How do you know if you are staying on target or if you have drifted off course? You need a system for measuring and reporting the critical numbers in your business so everyone knows how their efforts are either making or breaking your business.
This can be done by setting up KPIs (key performance indicators) and tracking financial metrics. OKRs (objectives and key results) work alongside them: an objective states what you want to achieve this quarter, and its key results are the few measurable outcomes that show whether you got there. KPIs tell you how the business is running; OKRs focus the team on what has to change. Additionally, get feedback from customers and employees regularly to gauge how well your business is doing. Regularly review your business plan to make sure that your goals are still relevant and that you are taking the necessary steps to achieve them.