From the course: QuickBooks Online: Best Practices to Unlock Business Growth
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Identify KPIs - QuickBooks Online Tutorial
From the course: QuickBooks Online: Best Practices to Unlock Business Growth
Identify KPIs
When I review any financial information for a client, I immediately start by pulling key performance indicators that I can use to determine their financial health. Key performance indicators are often referred to as KPIs. KPIs put a spotlight on your financial and non-financial information that help you make better decisions. After this lesson, you'll be able to identify the most common KPIs and why they are important. Five to nine solid KPIs are all you need. There are hundreds of potential KPIs you can use to track your business. Your KPIs should be laser focused on a specific goal and geared to improve performance. Never just track numbers for the sake of tracking. A lot, if not all KPIs look at what happened in the past. They are backward looking. While learning from the past is valuable, too often they are insufficient to provide actionable insight on what's to come. You want to have a mix of forward looking KPIs and backward looking KPIs for common, backward looking KPIs are…
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