Different businesses will have different profit drivers and KPIs.
For example:
•For a cinema, it might be the average ticket sale value
•For a motel, it might be the number of rooms occupied
•For a concrete supplier, it might be cubic metres sold
Work out what drives the profit in your business and create a system to measure these drivers and regularly report on them.
Set targets for your KPIs and communicate these to your team.
Measure your results, at least monthly, to ensure your on track to achieve your targets.
Consider how taking corrective action sooner rather than later will impact your results.
Ensure your job descriptions have KPIs so each team member can measure their performance against their targets.
