Mastering Metrics: A Guide to Defining KPIs for Success

Understanding and leveraging Key Performance Indicators—or KPIs—can serve as an effective tool for reaching the goals you set for your lab. At some point, all business owners have set goals for their business and thought about what they need to do to reach them. KPIs support that kind of goal setting and then take it a step further by requiring you to think through the necessary actions and assign quantifiable targets and team members for each action.

When creating KPIs, I tell my clients “KPIs are the things that, if your lab does them right, will ensure your success in reaching the goal.” In addition, KPIs provide your team members with motivation, direction, a greater sense of purpose and how their work contributes to the bigger picture.

Here are the steps I use in creating KPIs for my dental lab clients:

1. Establish a strategic goal: This is the ultimate outcome you are trying to achieve and not to...
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