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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:
- Is your objective Specific?
- Can you Measure progress towards that goal?
- Is the goal realistically Attainable?
- How Relevant is the goal to your organization?
- 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