Some markers of success for a business might include a certain percentage of income generated by repeat customers, the number of clients serviced per week, month or year, and the percentage of calls that customer support staff answers within 60 seconds. Pretax profit can be another measure.Continue Reading
Many businesses use key success indicators to measure progress and success. Similar businesses may measure success differently. For example, a business with community service as part of its mission statement might view one marker of success as the percentage of its profit that it donates to charities or the number of volunteer hours its employees contributed during a certain time period.
Marking success involves measuring, metrics and benchmarks. A company could tally how many lines of code its programmers turn out per week and calculate how many bugs there were per line. If the goal is no more than one bug per 1,000 lines of code, the company measures programmer success as having created no more than one bug for every 1,000 lines of code per week.
Markers of success should stay as consistent as possible. For example, a business that wants to measure sales increases should use the same measurement for each period. It should not compare a sales increase in dollars with a sales increase by volume.Learn more about Business Resources