MYB085: Why KPIs Matter and How to Set the Right Ones for Your Team
Release Date: 05/02/2025
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MYB111: The 5 Levers That Drive 61% More Profit
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MYB110: The S.Y.S.T.E.M. That Will Save You Time, Energy, and Money
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MYB108: How to Escape the 'Busy' Trap - A Mindset Shift for Owners
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MYB107: Tired of Bad Applicants? Here’s a Better Way to Recruit
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MYB106: Finish the Year Strong - How to Plan Your Final Quarter
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MYB105: The Power of Test, Adjust, Measure for Smarter Business Decisions
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MYB104: Get Your Customers Buying More Often
Max Your Business
In this episode of the Max Your Business Podcast, hosts Ben Fewtrell and David Carlin dive into one of the simplest yet most overlooked ways to grow your business: getting your existing customers to buy from you more often. Many business owners put most of their energy into chasing new leads, but the real opportunity lies with the customers you already have. Ben and David share practical strategies for boosting “spending frequency,” whether you run a high-frequency business like a gym or café, or a low-frequency business such as real estate, car sales, or even a funeral parlour. From...
info_outlineIn this episode of the Max Your Business Podcast, join hosts Ben Fewtrell and David Carlin as they dive into why tracking KPIs (Key Performance Indicators) is absolutely critical if you want to grow and future-proof your business.
With their usual practical, no-nonsense advice, Ben and David unpack how KPIs serve as the "dashboard" for your business, helping you stay on course, measure progress, and make better decisions rather than relying on gut feel alone. They also share real-world strategies for setting up simple, effective KPIs that keep you and your team focused without overwhelming anyone.
Listeners will walk away with a clear understanding of what KPIs to track, how to introduce them into your business, and why they are the secret weapon for building a more profitable, stress-free business.
Episode Highlights:
00:00 – Welcome to Max Your Business Podcast
02:44 – What a KPI actually is and why it is critical for business success
06:13 – The dangers of relying purely on gut feel
08:34 – How to set KPIs properly (keep them simple and measurable)
11:16 – Understanding leading versus lagging KPIs
13:00 – Real-world example: using a 100-point KPI system to drive sales
19:46 – Common mistakes to avoid when setting KPIs
21:07 – How cash flow forecasting gives business owners peace of mind
24:06 – The power of visual dashboards and simple KPI tracking
31:40 – The five essential KPIs every business should measure
33:44 – Best practice: setting 3 to 5 KPIs per role for clarity and performance
Key Takeaways:
KPIs are indicators, not just numbers: They show whether you are on track to achieve your goals.
Start small and simple: One good KPI is better than 20 confusing ones.
Focus on both activity and outcomes: It is not just about being busy, it is about getting results.
Leading KPIs predict the future: Track actions that drive the results you want.
Make KPIs visible: Visual dashboards and graphs make it easier for your team to stay on course.
Review KPIs regularly: KPIs only work if you check them often and act when needed.
KPIs help you build a business that can run without you: They are essential if you want to step back and still see your business grow.
🚀 Download your free copy of 63 KPI Examples to kickstart your business dashboard. Head to maxmyprofit.com.au/KPI to grab it now.
Tune in to this episode to learn how KPIs can become the silent engine behind a thriving, scalable business. Subscribe for more practical insights to help you Max Your Business!