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What is a KPI?

And why should I care about using them in my bar

KPI means: Key Process Indicator

 

Why are KPI’s so important for my bar or restaurant?

 

  • KPIs are important because they keep measurable objectives at the forefront of decision making.
  • It’s essential that objectives are well communicated, so when people know and are responsible for their own KPIs,
  • It ensures that the business’s overarching goals are top of mind.

 

How do I define effective KPI’s?

Use the SMART method and ask yourself:

  1. Is your objective Specific?
  2. Can you Measure progress towards that goal?
  3. Is the goal realistically Attainable?
  4. How Relevant is the goal to your organization?
  5. What is the Time-frame for achieving this goal?

 

Pro tip: Ask a RapidBar expert on how to help you find which KPI’s you should follow in your bar or restaurant.

 

Related article: 10 KPI examples for you bar or restaurant