Key performance indicators (KPIs) are great for business leaders to track and understand how their company is doing. But there are some pitfalls when trying to create KPIs.
One of the pitfalls I come across often is TOO many KPIs. Most of their measurements are actually metrics.
A company should track their own metrics. But KPIs are different.
KPIs are like the crystal ball of knowing if your business is doing well or not. And they will let you know what you need to double-down on or improve pretty quickly.
But don't fall into the pitfalls of KPIs when you are creating them.