I’m currently training for my first triathlon. It’s been tough training whilst running a business and with a new (ish) baby. However, when I was recently looking over my Strava data, I was reminded of the importance of Key Performance Indicators (KPIs).
Whilst I thought I wasn’t improving, it turned out I’ve improved more than I thought. Strava showed my fitness had improved, with around 15% increase in speed over 21 miles in 4 months.
This reminded me of several things –
- Tracking data is key. Small gains are hardly noticed if they’re not tracked. And whilst we often celebrate the big wins, the small ones are often the ones which cause the biggest change over time.
- Whilst tracking data is important, analysing the data is even more so. Can you work out any patterns, was an event triggered by an action you made? If so, what can you do to repeat or avoid in future?
- The easier it is to track the data, the more you will do it. Using Strava involves me to turn an app on with my phone, then press record. When I stop, I press finish and the session is saved. What tools can you implement which record what you do automatically and start giving you some data?
- Real time information is even better. I’ve now upgraded to a GPS watch. I can now keep track of my efforts whilst I’m training. If I’m aiming for a certain pace, I can go to that pace accurately and potentially avoid burnout. This will be especially important in August during the triathlon!
We think tracking KPI’s in your business is crucial to success. They can alert you when things may be about to take a dip or keep morale high when you can see the gradual upward trend in your figures.
If you don’t know where to start with picking the right KPIs, why not give us a call and see how we can help.