Rhythm Blog | KPIs & Dashboards

by Patrick Thean and the Rhythm Team

How to Make Data-Driven Adjustments to Hit Your KPIs [Example]

Jessica Wishart Thu, Aug 16, 2018 @ 11:00 AM

For many CEOs and executive leaders, the idea of having a system in place to allow you to see where you are off-track with the company’s goals or heading for a train-wreck so you can make adjustments before it is too late sounds appealing. Having a dashboard where you track KPIs is a great way to accomplish this, but in order to make the right adjustments to hit your goals, you need to follow a process to set yourself up for success—having the dashboard isn’t enough.

Simply seeing that the numbers aren’t coming in the way you had hoped won’t automatically fix the problem. Once your dashboards alert you to a problem or opportunity, you have to do the work necessary to course-correct and hit your goal. You need to be clear about your goal; you need to identify the levers that could potentially help you get there; and you need to gather the necessary data, have the right discussions, and make adjustments along the way.

5 Ways CEOs Can Create a Culture of Innovation

Alan Gehringer Thu, Jul 19, 2018 @ 11:00 AM

We have all heard the saying "A fish rots from the head down," right? Not that I am comparing my CEO friends to fish, but it does drive the point home that creating a culture of innovation starts with you as the leader of the organization.

Peter Drucker, one of the fathers of modern business theory, said if an established organization is not able to innovate, it faces decline and extinction. I could not agree with him more, for in all of my years helping companies, I have witnessed far too many that wait until they are in decline or experiencing shrinking markets, stale product offerings or products that are being commoditized to begin innovating. They usually do not have the resources once in decline to be successful, which is why it is important to build a culture of innovation while your business is strong and healthy.

Top 22 KPI Examples for Technology Companies

Tiffany Chepul Tue, Jul 10, 2018 @ 11:00 AM

It can be intimidating to sit down to a blank slate and begin working on your company’s first official KPI dashboard! Over the years, I’ve worked with hundreds of technology companies doing just that - beginning their KPI journey in Rhythm. So how do you get started?

First, it’s helpful to think of your business in terms of 4 key areas: Employees, Customers, Processes and Revenue. In order to have a clear high-level view of the health of your company, you should have visibility on all four areas. What can you measure to give you the proper insights on the health of your employees, customers, processes and revenue?

Download our free KPI Guide to help you drive results with KPIs.

If you are still stuck, we’ve compiled the ultimate cheat! Below are some of the most common KPIs we’ve seen from technology companies using Rhythm for each of the 4 key areas:

How to Lead the Best KPI Discussion Ever in Your Weekly Team Meeting

Tiffany Chepul Thu, Jun 7, 2018 @ 11:00 AM

The struggle is real. We’ve all been in meetings about our metrics that produce seemingly endless discussion about the numbers, with no real actions, outcomes or impact on results. CEOs list this as one of their top frustrations – all-talk-and-no-action meetings regarding their Key Performance Indicators

So, how do you avoid the marathon hamster wheel and have an effective KPI discussion in your weekly team meeting? Teams who are really good at this have two things in common: a properly set up KPI dashboard and a great facilitator. Here are some patterns regarding both: 

How to Create a Leading Indicator KPI

Jessica Wishart Wed, Jun 6, 2018 @ 11:00 AM

When thinking about the most important numbers to measure in your business, most of our clients have no trouble coming up with a list of results they want to achieve. The usual suspects are Revenue, Profit, EBDITA, # of customers, employees, or locations, etc. These Result Indicator KPIs are important - you need to think about the results you want to achieve in your business and set those targets. But, don’t stop there. For your key performance indicators to truly help you solve business problems and reach your goals, you also need to spend time developing Leading Indicator KPIs.

21 Production KPI Examples to Improve Manufacturing Performance

Alan Gehringer Thu, May 31, 2018 @ 11:00 AM

It is important to grow the top line of your business on an annual basis, but you also need to make sure the bottom line is healthy which can help fund that growth. This is particularly important if you are a manufacturing company. In most cases, the two biggest expenses in your business are labor and raw materials. There are exceptions, of course, in machine intensive automated manufacturing environments, but let’s focus on the former. So how can we make sure the production floor is running at peak performance? One very effective way is to put the right balance of production KPIs in place. Some of these KPIs are leading indicators and some are results. It is good to have both, although I always prefer leading as these drive the results.

Download our free KPI Guide to help you drive results with KPIs.

Here are some of my favorite KPIs that I used when I ran or set up manufacturing companies.

The Right KPIs to Prevent Acquisition Failure

Tiffany Chepul Thu, May 24, 2018 @ 11:00 AM

Mergers and Acquisitions are not for the faint of heart. Any CEO who has navigated those waters will tell you it is a tremendous challenge to blend cultures, systems, processes and teams successfully. The statistic is 70-90% of M&A's fail -- that's a scary number! Instead of focusing on that metric, let's talk about numbers we should be measuring around M&A.

Every M&A deal starts with an incredible amount of due diligence. Are the cultures and values compatible? Do the product lines and customer bases support each other? Do the numbers work and take us down a path of growth? Ultimately, if the deal goes through, benefits have been seen by both parties. Now, it's up to the newly-merged company to both preserve the current value of the organization and meet growth projections. It's a delicate balance.  

How to Use Job Scorecard KPIs to Drive Your Performance

Jessica Wishart Wed, May 23, 2018 @ 11:00 AM

If you read our blog often, you know that we frequently recommend using a Job Scorecard - we find this tool is exceptionally helpful in a variety of situations. Use it for hiring, use it for clarifying expectations around roles and goals, use it for ongoing performance conversations, use it for personal career growth. The Job Scorecard truly is a versatile power tool that can increase productivity and effectiveness both for individual contributors and for team leaders. However, I’ve noticed that many of our clients get stuck filling out the Job Scorecard template. To be honest, I got stuck on it myself. The part that seems to trip us all up is the part that can maximize the return on your investment of time and energy to create the Job Scorecard - the Desired Result KPIs. 

Why Are Job Scorecard KPIs so Important?

10 Examples of Key Performance Indicators That Drive Sales

Alan Gehringer Mon, May 7, 2018 @ 11:00 AM

Driving new sales revenue is a common theme that comes up with the clients I work with. In fact, I can’t think of many companies that have more sales activity than they know what to do with, and most are always looking for ways to (build or grow) their sales pipeline. 

There a lot of variables that go into building a great sales pipeline, and marketing plays a big part in developing marketing qualified leads (MQLs), but another big variable is measuring the right behavior that drives the right results. To do this, we must put the right leading indicators in place. It’s one thing to measure results indicators like Revenue booked, but unless the right activities are taking place, you are not going to hit your targets and your stakeholders are going to be disappointed regardless if they are internal or external. You need to develop the right leading indicators for your sales team.

Learn How to Use KPIs to Drive Sales [Video]

Patrick Thean Tue, May 1, 2018 @ 11:00 AM

I’ve had the pleasure and privilege of working with hundreds of companies. Quite often, when I visit, I am asked, “Patrick, can you please review our sales KPIs and help us improve them?” I mean, who would not want sales to work better, right? After reviewing hundreds of sales dashboards and KPIs, I noticed similar patterns in many of these companies. That’s why I created this video to help you use KPIs to drive sales.

The Bottom Line

Most people only use results indicators and review them monthly. This is good. You need clear result indicators, as they help you measure where you are in relationship to the sales targets that you have set and agreed to deliver. Gotta have them. However, you need to take it further. I would suggest in addition to results indicators, you might also consider using leading indicators. This 5 Minute Rhythm video is focused on helping you think about and develop leading indicators to drive sales.