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Moneyball

Have you watched the Brad Pitt movie Moneyball? Pitt plays the Oakland A’s GM, Billy Beane. Under Beane’s management in 2001 the A’s lose to the Yankees in the playoffs and then lose their 3 best players to free agency. Beane has to figure out how to turn his team around on a lean budget.

To do so, he turns to numbers and Peter Brand, a Yale economics graduate. Beane uses statistical data from Brand to analyze and place value on the players he picks for the team. The numbers don’t lie. {Watch the movie to see how they fare with this strategy.}

Key Performance Indicators

Do you know what the KPIs are for your business? Do you keep track of them on a monthly basis? Now that it’s July, have you seen how your company has grown or where it can improve since the first of the year? Do you know what your plan of attack is for the 2nd half of the year?

Excel to Excel

If you answered no to any of the above questions, it’s time to excel at Excel. Figure out what the KPIs are for your business, set them up on an Excel document, and keep track of them.

Examples of KPIs are:

  • net income
  • gross income
  • number of clients
  • advertising costs
  • mailing list subscribers
  • mailing list opens
  • mailing list clicks
  • blog posts
  • social media posts
  • sessions on your website

The list can go on and on. KPIs must to be tailored to the exact needs of your particular business.

Start Now

The bottom line is this: if you have never done a KPI start now. They can be tedious and difficult to understand at first. But, they are crucial indicators of where you have been successful and where your business could use a facelift.

If you’d like help with your KPIs, dial the digits 310.748.9128

Image Credit: Wolf Gang via Flickr

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To Market We GoMolly TaylorKPIs, Key Performance Indicators, Excel