financial performance Archives | Numbers Knowhow https://numbersknowhow.co.uk/tag/financial-performance/ Cash flow and financial planning made easy Mon, 29 Sep 2025 17:28:40 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://numbersknowhow.co.uk/wp-content/uploads/2022/02/cropped-Favicon-Cog.png financial performance Archives | Numbers Knowhow https://numbersknowhow.co.uk/tag/financial-performance/ 32 32 7 SMART KPIs All Business Owners Should Track Each Month https://numbersknowhow.co.uk/smart-kpis-for-business/ Tue, 10 Oct 2023 08:08:10 +0000 https://numbersknowhow.co.uk/?p=13494 SMART KPIs may be a new concept for you. However, you’ve probably heard of SMART targets or objectives which are often used for employee performance measurement. SMART stands for Specific, Measurable, Accepted, Realistic and Time-bound, but what does this mean when applied to KPIs? KPIs, or Key Performance Indicators, are metrics that businesses can track over time to identify progress (or lack of progress) toward their targets. Targets are long-term goals such as a 10% year-on-year increase in net profit. So use a SMART KPI focused on net profit to monitor your success monthly or quarterly towards reaching your target.  Therefore when you closely monitor your SMART KPIs, you’ll know whether your target is challenging enough or perhaps too challenging. In addition, you’ll get vital information during the target period rather than waiting until the end. In much the same way that mid-term tests and mock exams help students review their progress toward their final exam, KPIs help business owners monitor how well they are doing. How do I choose which SMART KPIs to track? To clarify it’s important to realise there are dozens, if not hundreds of possible SMART KPIs you could track. Therefore you must use your overarching […]

The post 7 SMART KPIs All Business Owners Should Track Each Month appeared first on Numbers Knowhow.

]]> How To Judge Your Financial Performance https://numbersknowhow.co.uk/how-to-judge-your-financial-performance/ Tue, 11 Apr 2023 08:59:07 +0000 https://numbersknowhow.co.uk/?p=11527   How do you assess financial performance? It’s not that straightforward, isn’t it?  Knowing how to judge your financial performance can be tricky. It’s because many factors come into play. Plus, it’s not always easy to know where you stand.  You can get a good idea of how you’re doing if you turn to your numbers – more specifically, your income and expenses. Take a careful look at them, and it should be much clearer where your business is at the given time.  In the words of Dietrich Bonhoeffer, “Action springs not from thought, but from a readiness for responsibility.” So, to be able to lead your company to a brighter tomorrow, you need to be informed about the facts, take responsibility for the current situation and plan away based on reasonable data. Care for some tips to get you started? Read on to learn more. Know your income and expenses If you’re running your own business, it’s important to keep on top of your financial performance so you can make sure you’re making a profit. But how do you know if you’re doing well or not? Here are a few tips on how to judge your financial performance. Regardless […]

The post How To Judge Your Financial Performance appeared first on Numbers Knowhow.

]]>