Measuring Business Success | Accounting Podcast | Ohio CPA Firm | Rea CPA

episode 31: bet on your business by scoring your success

How you define success in your business is greatly influenced by your organization’s unique objectives, finances, project initiatives, culture, values and ongoing employee education. But on episode 31 of unsuitable on Rea Radio, Jeremy Senften, CPA, CGMA, Rea & Associates’ chief operating officer, encourages you to “bet on your business by scoring your success.”

This week, listeners will get a glimpse into the importance of measuring success by leading and lagging indicators – don’t worry, there will be examples. Jeremy and Mark also discuss the benefits of communicating your business’s progress with targeted team members in your organization, which helps facilitate greater buy-in – motivating them to want to do more to contribute toward a specific outcome and overarching strategic plan. Additionally, Jeremy talks about the benefit of tracking the organization’s success in a variety of ways, such as by department, and then share the weekly/daily results with your team to determine what they can do to help influence the results.

Want to start driving measurable success in your company? First, define what makes yours a successful business. Then identify who can help you achieve your goals and drive greater success. Finally, maintain flexibility throughout the process – plan for change. Need more tips and insight? Start listening to this episode now and start learning from the pros.

articles & insight

From Good To Great: How To Create A Strategic Plan That Propels Your Business Forward – A great plan is only, well, great, if it’s backed by a great strategy – the more you plan and forecast for the future, especially when it comes to business endeavors, the more likely you are to succeed. Success doesn’t happen without some blood, sweat and tears, and neither does a solid strategic plan. It takes a great deal of research, discovery and participation to bring such a plan to fruition … but it’s well worth the effort. Keep reading to find out to take your company from good to great.

Measure Your Operations With Key Financial Information – Numbers and operations go hand-in-hand, and successful businesses blend the finance, operations and sales functions. You need to focus on the right things – that critical financial information that drives each aspect of your business operations. Keep reading for critical advice for business success.

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