A Quick Guide to KPI's for Small Business Owners
What is a KPI and Why Does It Matter?
KPI stands for Key Performance Indicator—a measurable value that shows how effectively you’re achieving key business objectives. For small business owners and solopreneurs, tracking KPIs means having clarity on what’s working and what’s not, so you can make informed decisions, refine your strategy, and focus your efforts on the areas that truly drive growth. Without tracking KPIs, you’re essentially flying blind, hoping for results without knowing what actions are actually moving the needle.
You can’t scale if you don’t track what’s working. If you want sustainable business growth, you must track your progress. But before you start crunching numbers, let’s get clear on what actually matters for your business.
Step 1: Define the Right Metrics for You
Every business is different, so the numbers that matter will depend on your goals. Here are some key metrics you might want to track, categorized for better clarity:
Marketing KPIs 📣
Website traffic & channel sources
Social media engagement (likes, shares, saves, comments)
Email open & click-through rates
Lead generation rate (freebie sign-ups, opt-ins, webinar registrations)
Cost per lead (CPL) (how much you spend to acquire a lead)
Sales KPIs 💰
Number of discovery calls booked
Sales conversion rate (% of calls that turn into clients)
Average transaction value
Customer acquisition cost (CAC) (cost to acquire a new paying customer)
Total revenue & profit margins
Customer Success & Retention KPIs 🤝
Customer retention rate (how many clients return for additional services)
Repeat purchase rate
Net Promoter Score (NPS) (customer satisfaction & likelihood to refer)
Client testimonials & reviews
Time to first success (how quickly a customer gets value from your service)
Operational & Productivity KPIs ⚙️
Time spent on revenue-generating activities
Billable vs. non-billable hours
Project completion rate
Cost of goods sold (COGS) (how much it costs to deliver your service)
Cash flow & financial runway (how long your business can sustain itself)
Which of these are you already tracking? Which ones would give you better insights into your business growth?
Step 2: Choose How You’ll Track It
You don’t need fancy tools to get started—just a system you’ll actually use. Here are a few options:
Google Analytics – Track website visits, conversions, and traffic sources.
Email marketing platforms (MailChimp, ConvertKit) – See open rates, click rates, and subscriber growth.
Social media insights (Instagram, Facebook, LinkedIn) – Track engagement and audience growth.
Google Sheets or Airtable – A simple, free way to log and analyze your key numbers.
Accounting tools (Wave, QuickBooks, Stripe reports) – Keep an eye on revenue, expenses, and profit margins.
Since data may live in different platforms, consider buiding a system to make it easy to collect and analyze the data each month (read next steps for more!).
Step 3: Build a System to Collect and Analyze Your Data
Since your key business data likely lives across multiple platforms, it's essential to create a system that simplifies how you collect and review it each month. Instead of scrambling to pull reports from different sources, set up a streamlined process that makes it easy to analyze trends over time.
Here are a few ways to do this:
✅ Automate Report Generation – Many tools like QuickBooks, Google Analytics, and Mailchimp allow you to generate reports in PDF or CSV format. Set a reminder to download relevant reports (such as sales reports, website analytics, and email campaign results) and store them in one place.
✅ Use Dashboards for Comparison Views – Seeing your data in isolation (just this month’s numbers) can be misleading. Instead, create dashboards that let you compare performance over time—month-over-month or even year-over-year. Platforms like Google Analytics, HubSpot, and Stripe allow you to visualize trends without manually pulling data every time.
✅ Manually Track in a Spreadsheet – If you prefer a hands-on approach, consider setting up a simple spreadsheet where you enter key metrics monthly. This method allows you to consolidate data from multiple sources in one place and customize your analysis.
✅ Explore Business Intelligence Tools – If your business is growing and you need deeper insights, tools like Google Looker Studio, Databox, or Tableau can help integrate data from various platforms and generate custom reports.
Whichever method you choose, consistency is key! The goal is to have a system that saves you time and helps you make informed decisions based on clear trends and data.
Step 4: Set a Regular KPI Check-In Time 📅
Tracking your data is useless if you never look at it! Set a "KPI Date" at least once a month to:
Review your numbers
Look for patterns (what’s improving? what’s declining?)
Make adjustments to your strategy based on real insights
Are You Tracking the Right Data?
Are you getting all the information you need to make informed decisions?
How do you keep track of it?
How often do you actually look at your results?
If you’re not sure where to start—or if you’re tired of tracking things that don’t move the needle—join me for the Q2 Sales Accelerator! We will work together to refine your strategy, set clear KPIs, and create an action plan that actually moves your business forward. You’ll get my expert support plus a group of like-minded women to brainstorm with, share insights, and remind you that you’re not alone in this journey.
📅 Limited spots available! RSVP here.
Join the Q2 Sales Accelerator!
By the end of this workshop, you’ll have a refined business strategy, a clear Q2 roadmap, and measurable KPIs to track your progress—so you stay on course and grow with intention.
This Workshop Is Perfect For:
Small business owners, solopreneurs, and service providers who want to stay aligned with their annual goals by setting strategic priorities, tracking key metrics, and making data-driven decisions.
Includes:
✔ 2-hour live workshop (interactive + hands-on)
✔ Guided exercises to reflect, plan, and set KPIs
✔ Hot seat coaching for personalized support
✔ Templates to track your progress and measure success
✔ Optional: Add-on a private session at a discounted rate
Investment:
✔ $49 (General Admission
✔ $29 (Students from previous quarterly workshops)
✔ Free for 1:1 Coaching and Mastermind Clients
