KPI Workshop - July 2014
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KPI Workshop
PRESENTER: Stephen Lynch @StephenLynch
#RealKPIs || @RESULTSdotcom
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#RealKPIs
JOIN THE CONVERSATION ONLINE
PRESENTATION AVAILABLE POST PRESENTATION:
www.RESULTS.com/slides
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Full participation
Questions / Answers:#realKPIs || @RESULTSdotcom
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Ask for everyone’s point of view
Questions / Answers:#realKPIs || @RESULTSdotcom
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Productive conflict is important
Questions / Answers:#realKPIs || @RESULTSdotcom
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No “group think”
Questions / Answers:#realKPIs || @RESULTSdotcom
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Make a clear decision
Questions / Answers:#realKPIs || @RESULTSdotcom
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Everyone commits to the decision
Questions / Answers:#realKPIs || @RESULTSdotcom
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Key Performance Indicators
Questions / Answers:#realKPIs || @RESULTSdotcom
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However beautiful the strategy, you should occasionally look at the results
“
Questions / Answers:#realKPIs || @RESULTSdotcom
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92% of companies don’t measure KPIs [3]
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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RED = Unacceptable performance standard
YELLOW = Watch closely. Need help?
GREEN = Target performance standard
Key Performance Indicators / Key Metrics
Questions / Answers:#realKPIs || @RESULTSdotcom
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In the past, we used Spreadsheets / MS Excel
Questions / Answers:#realKPIs || @RESULTSdotcom
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IDENTIFY WHAT’S HAPPENING IN YOUR BUSINESS RIGHT NOW
VISIBILITY INTO WHAT DIFFERENT PEOPLE AND TEAMS ARE WORKING ON
IDENTIFY WHICH AREAS ARE WORKING WELL AND WHICH REQUIRE ATTENTION
UNDERSTAND WHO’S EXCELLING AND WHO NEEDS HELP
Now we use Software
Questions / Answers:#realKPIs || @RESULTSdotcom
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Everyone knows their own individual accountabilities
Questions / Answers:#realKPIs || @RESULTSdotcom
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Key Performance Indicators / Key Metrics
Questions / Answers:#realKPIs || @RESULTSdotcom
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They can also see how other teams are performing
Questions / Answers:#realKPIs || @RESULTSdotcom
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They can also see how other teams are performing
Questions / Answers:#realKPIs || @RESULTSdotcom
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Team leaders can drill down to identify the cause
Questions / Answers:#realKPIs || @RESULTSdotcom
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Looks like one person is struggling?
Questions / Answers:#realKPIs || @RESULTSdotcom
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What is happening here? How can we help?
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Assign a Task to address the issue
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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The Right Way To Set Goals
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Always aim for the STARS, if you miss…
..you’ll at least reach the moon
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Tropical Island Test
Questions / Answers:#realKPIs || @RESULTSdotcom
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- You are on an extended holiday in the tropics….
- All you can receive is a weekly text from your business that contains a small handful of numbers (e.g. 5 max) that tell you how well your business is performing
- If the KPI’s are “green” you can go back to reading your book
- If the KPI’s are “yellow” you need to ring the office to see what is going on
- If the KPI’s are “red” you need to cut your holiday short and return home
- What would those numbers be?
Imagine this…
Questions / Answers:#realKPIs || @RESULTSdotcom
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Business Model / Industry KPIs (example)
Industry Type = (e.g. Restaurant) Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
# Customers Chloe Weekly 2700 3000
$ Average spend per customer Rajesh Weekly $35 $40
# Complaints Rajesh Weekly 10 5
$ Revenue per available seat hour (RevPASH) Mark Weekly $12 $15
Labor cost as % of revenue Mark Weekly 35% 30%
Questions / Answers:#realKPIs || @RESULTSdotcom
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Business Model / Industry KPIs (example)
Industry Type = Performance Thresholds
KPI Description Person Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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The 4 Gears
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
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Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
Outcomes are good, but what drives them?
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Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
$ Sales
# phone calls# appointments booked # sales presentations
% who attend presentation% who buy at presentation
Convert leads into sales
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Scope out your KPIs (example)
Team / Functional Area name = (e.g. Sales Team ) Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
# New appointments booked Hans Daily average 20 25
% Appointments that did not show up Hans Weekly 25% 20%
# Sales Presentations delivered Tyler Weekly 55 75
% Prospects that purchased on the day Tyler Weekly 50% 60%
$ Weekly Sales Revenue Jenny Weekly $45,000 $55,000
Questions / Answers:#realKPIs || @RESULTSdotcom
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KPI Hierarchies (roll ups) (example)
Team / Functional Area name = (e.g. Sales Team ) Performance Thresholds
“Parent” Goal KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
# Sales presentations – total team Tyler Weekly 55 75
“Child” Goals Person
Accountable
MeasurementFrequency
# Sales presentations - Jeff Jeff Weekly 15 20
# Sales presentations - Marie Marie Weekly 15 20
# Sales presentations - Sergey Sergey Weekly 15 20
# Sales presentations - Arzu Arzu Weekly 10 15
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Single Point Accountability
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Data you can track and measure right now?
Contributes to the big picture?
Drives the right behaviors?
Questions / Answers:#realKPIs || @RESULTSdotcom
The sniff test:
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
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Team / Functional Area KPIs
Team / Functional Area name = Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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KPI Hierarchies
Team / Functional Area = Performance Thresholds
“Parent” Goal KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
“Child” Goals Person
Accountable
MeasurementFrequency
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
![Page 64: KPI Workshop - July 2014](https://reader034.fdocuments.net/reader034/viewer/2022051107/53e966858d7f7289708b4c19/html5/thumbnails/64.jpg)
Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
Create leads
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Team / Functional Area KPIs
Team / Functional Area name = MARKETING Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
![Page 67: KPI Workshop - July 2014](https://reader034.fdocuments.net/reader034/viewer/2022051107/53e966858d7f7289708b4c19/html5/thumbnails/67.jpg)
Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
Convert leads into sales
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Team / Functional Area KPIs
Team / Functional Area name = SALES Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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Scope out your KPIs (example)
Team / Functional Area name = (e.g. Sales Team ) Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
# New appointments booked Hans Daily average 20 25
% Appointments that did not show up Hans Weekly 25% 20%
# Sales Presentations delivered Tyler Weekly 55 75
% Prospects that purchased on the day Tyler Weekly 50% 60%
$ Weekly Sales Revenue Jenny Weekly $45,000 $55,000
Questions / Answers:#realKPIs || @RESULTSdotcom
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KPI Hierarchies (roll ups) (example)
Team / Functional Area name = (e.g. Sales Team ) Performance Thresholds
“Parent” Goal KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
# Sales presentations – total team Tyler Weekly 55 75
“Child” Goals Person
Accountable
MeasurementFrequency
# Sales presentations - Jeff Jeff Weekly 15 20
# Sales presentations - Marie Marie Weekly 15 20
# Sales presentations - Sergey Sergey Weekly 15 20
# Sales presentations - Arzu Arzu Weekly 10 15
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
![Page 72: KPI Workshop - July 2014](https://reader034.fdocuments.net/reader034/viewer/2022051107/53e966858d7f7289708b4c19/html5/thumbnails/72.jpg)
Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
Provide product / service > delight customers
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Team / Functional Area KPIs
Team / Functional Area name = OPERATIONS Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
Create leads
Convert leads into sales
Provide product / service that delights customers
Grow cash & make a profit
KPIs - The 4 Gears
![Page 75: KPI Workshop - July 2014](https://reader034.fdocuments.net/reader034/viewer/2022051107/53e966858d7f7289708b4c19/html5/thumbnails/75.jpg)
Questions / Answers:#realKPIs || @RESULTSdotcom
Outcome
Activity Effectiveness
Grow cash & make profit
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Team / Functional Area KPIs
Team / Functional Area name = FINANCE Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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Individual KPIs
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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SpecificMeasurableAchievableRelevantTime bound
S
AM
RT
“SMART” Goals
Questions / Answers:#realKPIs || @RESULTSdotcom
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Ideally everyone has a KPI
Contributes to big picture
“I had a good week”
Questions / Answers:#realKPIs || @RESULTSdotcom
What’s your number?
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Individual KPIs
What is each person’s daily / weekly number? Performance Thresholds
KPI DescriptionPerson
Accountable
MeasurementFrequency RED YELLOW GREEN
Questions / Answers:#realKPIs || @RESULTSdotcom
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Review KPI performance thresholds every quarter
Review red, yellow, green thresholds to make sure they are SMART – especially “achievable” and “relevant”
based on your strategic reality / seasonal factors / other trends
Confirm each person “buys in” to the performance thresholdand is willing to be held firmly accountable
for their KPI being “in the green” as part of an ongoing monthly review of their performance
Questions / Answers:#realKPIs || @RESULTSdotcom
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By what day each week / month will the KPI data be posted?What 1 person will be accountable to post this data?
List your answers below:
Questions / Answers:#realKPIs || @RESULTSdotcom
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Questions / Answers:#realKPIs || @RESULTSdotcom
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They wish they had dealt with poor performance sooner!
#1 Regret of Business Leaders
Questions / Answers:#realKPIs || @RESULTSdotcom
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“He that is good for making excuses is seldom good for
anything else.”
Benjamin Franklin
Leaders owe it to the organization& their fellow workers, not to tolerate non-performing people in important jobs
– Peter Drucker
“
Questions / Answers:#realKPIs || @RESULTSdotcom
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“Accountability is meaningless without consequences”
What positive consequences can the person accountable expectif their KPI is consistently in the “GREEN” at the end of the month?
What negative consequences can the person accountable expect if their KPI is consistently in the “RED”…
• For 1 month?• For 2 months in a row?• For 3 months in a row?• For 4 months in a row?
Questions / Answers:#realKPIs || @RESULTSdotcom
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Be conservative in the beginning
Get everyone used to winning
You can always raise the bar later
Questions / Answers:#realKPIs || @RESULTSdotcom
Review your performance thresholds
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KPIs – getting it right
Growth inhibited by:
- Wrong person in the role- Wrong KPIs - Too many KPIs- Unrealistic performance thresholds- Not keeping KPI data current and visible every week - Not holding person firmly accountable for performance- No consequences for poor performance- Waiting too long to address poor performance
Growth maximized by:
- Right person in the role- Right KPIs - Realistic “green” performance thresholds – adjusted regularly- KPI data kept current and visible every week- Person held firmly accountable for performance- Progress praised and recognized
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