(805) 965-6073
DonateMeet Our Clients
Facebook
LinkedIn
YouTube
Instagram
  • Events
    • Upcoming Events
    • Past Events
  • Programs
    • Business Training
    • Consulting
    • Loans
    • WEV LinkedIn Learning
    • QuickBooks & Financial Empowerment
    • FAQs
  • COVID-19
    • Resources & Information
    • ReStart Loans
    • Donate
  • Español
    • Quién es WEV?
    • Capacitación Empresarial
    • Préstamos Para Negocios
    • Programa LinkedIn Learning de WEV
    • QuickBooks y Empoderamiento Financiero
    • Clientes
    • Instructores
    • Comunícate
    • COVID-19
    • Préstamos de COVID-19 Reapertura
    • Recursos
  • Support WEV
    • Donate
    • Empowerment is Priceless
    • Join The League
      • Join Today
      • Spotlights
    • Sponsor
    • Volunteer
  • Clients
    • Million Dollar Club
    • Client Business Directory
    • Santa Barbara County Clients
    • Ventura County Clients
  • About
    • History
    • Board of Directors
    • Our Staff
    • Instructors
    • Advisors
    • Impact
    • Careers
    • COVID-19
  • Newsroom
  • Videos

Driving Business Performance – what’s on your DASHBOARD?

afletcherFinancial SupportFebruary 21, 2019

(February 21, 2019)  By Nicki Parr, WEV’s Business Resilience Specialist

If you have been following these SmartMoney articles for a little while, you will realize by now that I am particularly keen on two main areas: Preparedness and Action! My goal for you is to transform how you think about your numbers: from something dull, boring and historical to something exciting, engaging and forward-looking. This month’s topic is another great example of putting preparedness and action into practice: using your business’ data to drive and grow your revenue by creating and implementing a “Dashboard”.

What is a Dashboard, I hear you ask! Well, a dashboard is nothing more complicated than a set of Key Performance Indicators (KPIs) for your business that you look at on a regular basis, with the emphasis on regular! While the specifics may differ from business to business, there are some common measures that you can be tracking to see how well (or not) your business is performing. These measures can be grouped together into weekly, monthly and quarterly criteria. Here are some examples:

WEEKLY

  • Total sales
  • Number of new customers
  • Number of repeat customers
  • Cash balance
  • Receivables balance (including aging)/cash collected

MONTHLY

  • Overhead expense (can be by category)
  • Gross Margin by Product/Service
  • Net margin by Product/Service
  • Average sale per customer

QUARTERLY

  • Actual vs Budget
  • Click-through/referral rate

Now it’s your turn: what are the three most important pieces of data that you want to track for your business AND how much time can you commit? Whether you have 15 minutes a day or 5 minutes a week, start with what you can commit to reviewing on a consistent basis (apps such as usemystats.com can make gathering data effortless and informative).

You may find that as the weeks progress, you will naturally start to become more curious about other metrics and add those into your dashboard. Analyzing this key data on a regular basis is what will help you drive your business forward, allowing you to make adjustments in real time, and place greater attention on the things that are working. Vroom vroom!

  • WEV Loan Programs Overview
  • WEV Basic Loans
  • WEV COVID-19 ReStart Loans
  • FAQs
Get Updates from WEV

Santa Barbara County Office

Monday-Friday: 9am-5pm

333 S. Salinas Street
Santa Barbara, CA 93103
Tel: (805) 965-6073
Fax: (805) 962-9622

Parking is available on the street or in the parking lot off Lou Dillon Drive. WEV only has one space available in the front lot.

Ventura County Office

Monday-Friday: 9am-5pm
*Appointments are preferred; please call ahead before stopping by, as our Ventura staff members frequently work in other locations.

290 Maple Court, Suite 268
Ventura, CA 93003
Tel: (805) 667-8004
Fax: (805) 962-9622

WEV's office is located in the back of the 'Financial' building if facing the building from Maple Court.

  • About Us
  • Client Resources
  • Client Business Directory
  • News
  • Women’s Business Center (WBC)
  • Accessibility Statement

Privacy Policy Terms of Use Copyright © 2021 Women’s Economic Ventures. All rights reserved. Created by NDIC