[00:00] Welcome back to the Focus B show. This is Katie Suddar here aka the focus b. And on this show I interview high performers and leaders around the world to discover their secrets on peak performance, productivity, mindfulness and leadership. So if you want to take your performance and your leadership to the next level, then you're in the right place. Listen up and connect with the magic.

[00:36] And time for a new episode on this pillar of profit from my season. Season four on tea and pie. Time, energy and attention. Optimized for greater profit, impact and expertise. This is such an important topic, profit in general. And today we're looking at KPIs and reviewing and how you can make sure that your business is growing in the right direction. Hope you've got some notes with you, maybe a nice cup of tea, a coffee, because this is going to be a condensed episode on so many important aspects of growth, business growth and profit. First, let's look at KPIs. So, key performing indicators. Those are the fancy terms that everyone loves. They also love the fancy term. OKRs, objective, key result, which is something else, but also fancy business terms. Why do KPIs matter? Well, first of all, they don't only matter because I feel that sometimes there's an over obsession on the KPIs and if you don't reach them, then you get disappointed. So you can have two different ways of managing this. And again, it depends if you're part of a larger business structure or if you're an entrepreneur. If you're part of a larger business structure, it's almost obliged in many ways to have KPIs. And then you can have them both financial or in terms of performance, the sort of results that you want to reach and how you will measure them. And as a business owner, you can have the same. However, I feel that there is too much of an emphasis on KPIs based on the results you obtain and not the KPIs of the actions you are taking. Let me explain this. If your KPI is focused on, let's say, acquiring ten new clients this month, this is an externally based result. If your KPI was reach out to 1000 people in order to aim to have ten clients this new month, that is more a journey based or the approach that you're doing in order to get the clients, which is optimized. So you're looking at the journey and the process rather than looking at the outcome. In my own business, I have felt it's more powerful to put an emphasis on the process and to have the outcome as a goal, as a vision, as a mission, as a way in which you're going, but not to put it as a way of evaluating performance. And this is the same for your employees because what happens is, especially if you put the target really high, that can be a goal, that can be an aim. You can get excited you can do even better and over deliver and get twelve clients or 15 clients. But if you suddenly get seven or six or non or two, you're likely to be disappointed and feel you've underperformed. And you might have done your very best, you might have showed up every day and done your very best. But maybe for whatever reason it didn't work out. Or the sales process is longer than usual, it can be a bunch of reasons, it doesn't really matter. So instead, if you start to measure the actual processes, reaching out to 1000 people or doing X amount every day, this is something that's fully in your control and you have a definite done and not done. And then you can also start to observe. Let's say if you reach out to 1000 people and you get five clients, you can be okay. Next KPI will be to reach out to 2000 people. Let's see if that delivers ten and it'll give you an idea of what type of processes lead to what type of results. So I'm a huge fan of having these processes in plates and these habits and focusing on the journey as much at least as on the outcome. And if you want to have a different set of KPIs to measure it, that's fine. But it's important to acknowledge the process and not just think about the result. Obviously you want a clear intangible direction. Now this can be valid also for profit and income and clients and all of the different aspects that you want to measure. Also make it exciting, make it fun, try and gamify it. This is another key aspect that I find makes such a huge difference both for teams. If you do things like sprints or design sprint and you make it fun and engaging and motivating, people love it. Love it. People want game, they want fun. We're all just kids inside wanting to have fun in our business and our life. You need a bit of spice. And maybe this is because one of my values is joy. So maybe if your business values are something like hyper, hyper serious and zero fun, then maybe it won't work for you. But mostly people want gamified and fun things and this can definitely be done with KPIs. So start to think about what tools, ideas, concepts can you put in place in order to make this fun, to make this exciting and to make people want to achieve their KPIs. And I say people because I'm thinking of you having a team, but if you're you on your own, you're your own team. What makes it fun for you? What makes it enjoyable for you to reach these KPIs and to work on this process? Continuing on this topic of KPIs but also review, I've mentioned this in the Pareto episode on Time and Profit and how you can optimize your time in order to have greater profit. Review and I've probably mentioned it in other episodes, too. Review is so I could do a lot of SOS important. If you don't review your work, your week, your planning, your outcomes well, everything, you won't be able to optimize it or to change it. You can only change what you're aware of. And for you to be aware of it, you need a thorough review process. So start creating a review process where you track all the aspects that are important for you. This can be anything from social media engagements in terms of marketing or branding to profit that's coming in to client satisfaction, to how you're spending your time. And if that's optimized to energy levels. You can make this review simple, because I'm making it sound difficult this way, but if you just have ten things that you track every week and they all take a minute or two to check, then it's a ten minute, 20 minutes review. There's not a lot of time in a week to optimize. I remember that when I worked with a Tony Robbins coach that we had a form to send in before every session, and one of the things that they tracked was our energy levels. So how were we feeling physically, how was our nutrition, how was our sleep, how are we feeling emotionally? And that's another important aspect to track if you're thinking of your energy levels, how you feel on a regular basis, how engaged are you in your work and how this is impacting. The way you work is obviously key and essential. Once you have a review system in place, make sure to carve out the time for it. Maybe at the end of every Friday or every Sunday or whenever works well for you. And you can also do it on a monthly basis. Tracking reviewing is where the shifts happen. It's where you start to notice things. I remember working actually with another coach, not Tony Robbins one, although I'm pretty sure I probably did it with her, too, that I would think before each of my coaching sessions, wow, this is so valuable. Just my 15 minutes before, because it's making me review. I would suddenly go in my mind, in my calendar, in my life, and start to think, what happened since I've last spoken to my coach? And actually just that review I felt was really valuable. Obviously, I also scheduled reviews on Fridays and reviewed my time and my action, but I think I would go slightly deeper when it was just before talking with my coach, and I'd think of what were some of the mindset shifts? What were some of the results that happened that surprised me, what were some of the actions that shifted in my life and start to think how this has impacted me or my business. So, yes, review is absolutely fundamental. It's a total game changer. I know I've mentioned it before, but it really, really makes a huge difference. And then you can use it to optimize your planning because have these KPIs in place. Once you have reviewed thoroughly how you're progressing, then you can use this to plan your following week or your following month in a way that maybe follows Pareto principles of optimization or that just feels aligned and right so. You can use this to move forward and obviously all of this will help you to increase your profit in your business because you're constantly reviewing, you're constantly adapting your KPIs and seeing and tracking them and this will make a huge difference. If you're already applying this fantastic, amazing, let me know. Send me social media covered. And if you're not, hopefully you've taken away something that you can start to implement today, putting in place your KPIs for process and for outcomes, tracking how you spend your time reviewing it and using it to plan the following week or month or quarter. Thank you once more for being here today. If you have a second, please leave a review. Wishing you a great day.

[11:08] Thank you so much for tuning in today to the Focus V show. I would absolutely love to hear your feedback, so let me know in an Apple review or YouTube comment what was most valuable for you and feel free to share this episode with a friend or a family member. Wishing you a wonderful, magical and focused day ahead.