What's a KPI? How to run your business from your books, not your bank account.

What do you want to accomplish together today that you can take back to your practice and take action on?

1.

How do YOU define KPI?

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What are you currently spending time reviewing that does not provide value to your process and/or analysis?

3.

Write down 5 KPIs you want to monitor. Challenge yourself. Make sure at least 3 of them fall into a category other than financial. .

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How has your definition of KPI changed so far?

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How are you currently visualizing your data? Do you have a routine review schedule? Build your process right now.

Write down your "best practice" for how you will review, when you will review (day of week/time and frequency), as well as who you will review with.

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What is ineffective about this traditional view/method?

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What works for this report? What does not? What are the take home points we discussed and can we find that data in a more simplified method?

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Thinking about your current process. What aspects of your P&L do you need to improve. Too much information in your expense accounts? Too little in your COGS/Income accounts? How can you make your P&L meaningful to you?

9.

How can you change the way you actually access and digest your data without a major time or cost investment?

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Name three reports you're currently viewing in a spreadsheet that you could easily visualize into a dashboard.

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Can you think of a time you misinterpreted your data and it impacted your decision making process? Did you have negative outcomes due to a lack of understanding of your numbers? Write that experience down here. What could you have done to prevent it?

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How can shifting time-frame alter the appearance of your figures?

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Write down the different input/charge/service/post date characteristics your practice management system utilizes in the exact verbiage your system uses. Then write down what it actually means in your process.

Characteristic:

What it actually means:

________________

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Think about how many and which people are involved in your cash control processes. Do you have process in place that takes the trust issue out? You should be able to place anyone in any seat in the process and have it so airtight that gaps can be easily identified and tracked back.

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What gaps have you discovered in your current processes due to lack of attention to the nuance of data collection and presentation? How can and will you change your process to improve the accuracy of the information you drive your business from?

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What solutions do you have available to you currently without investing in technology? What is your ideal world solution if cost and implementation were not objects?

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What are the KPIs you are going to measure. Have they changed since slide 4 in terms of the methods, visualizations or outputs? Why is that?

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Set one attainable goal for yourself for the next quarter and year. It can be a KPI projection. It can be an actionable step taken towards better process in monitoring your KPIs. Write it down. Tackle it. Take that with you.

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Thank you for your time! If you are interested in scheduling a 1:1 later today or Thursday to discuss achieving your goals please stop by to say hello or fire off a text/email!

- JG

22.

Your Feedback Is HUGE. Seriously any feedback would be very well received constructive or otherwise. This is how I learn to improve in providing value to you, my clients, my colleagues.

1) What were the three most valuable portion actionable points you took home with you today?

2) What do you wish we had spent more time on or covered that we did not get the opportunity to cover today?

3) What is another topic you would like to hear today's speaker cover in the future?

4) Can you think of any friend or colleague that you would like to refer to the speaker today?

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