How Do You Find Your Business Scorecard?
Do you ever get the feeling that despite you working tirelessly to grow your business and juggling priorities, progress just feels much slower than it should?
Have you ever asked yourself if you’re focusing on the right KPIs?
Our Board of Advice Program provides a holistic view of your business’s performance and the clarity to navigate challenges, seize opportunities, and ensure long-term success.
“The best businesses don’t just measure—they adapt. Regularly refining your KPIs ensures you stay aligned with your goals, no matter how the market evolves.” – Drue Schofield, Managing Director – Growth & Strategy, 4Front
Let’s look at the KPIs that should be at the core of every advisory board discussion.
Financial Health Metrics: The Foundation of Stability
Measuring the financial metrics in your business is critical to success. They determine how far you can go and how efficiently you’ll get there. Some of the key metrics we measure include:
Tracks the effectiveness of your sales and marketing strategies.
This is the engine room of your business. Your Gross Margin
percentage (good or bad) tells you a lot about the current state of your business.
Operating profit reveals how well your business manages
costs, and ultimately how profitable it is.
Measures how well your business deploys its talent,
comparing the amount of labour input with the results produced. A critical KPI as
often one of the biggest cost centres of any business is talent.
Demonstrates how quickly debtors are being converted to
Cash.
Cash is KING. Ensures liquidity for meeting working capital obligations
and funding growth opportunities.
Quantifies your business’ ability to pay short-term obligations or
those due in 12 months or less.
Evaluates financial leverage and the balance between
borrowing and equity financing.
Example: One client identified a declining gross profit margin, which we were able to identify was due to a decreased LER. This effectively meant their talent was not as productive as it could be. Through a range of measures we helped them implement they were able to course correct and get gross profit margin back to trend.
Customer Metrics: The Pulse of Your Business
Your customers define your success. No customers, no business. Customer metrics are akin to planting a fruit tree. It takes effort upfront, but over time, the returns can be exponentially rewarding – you will reap what you sow. Metrics like these provide valuable insights into customer behaviour, loyalty, and profitability:
Reveals how efficiently you acquire new
customers.
Measures the revenue a customer brings over their
relationship with your business.
Gauges customer satisfaction and loyalty.
Example: One client discovered that focusing on high-value customers with a higher CLV doubled their revenue from existing accounts within a year, which also lead to increased profits, with less effort.
Operational Metrics: Driving Efficiency
Operational metrics reveal how well your business uses its resources and executes its strategy:
High turnover signals potential issues with culture or
leadership.
High absenteeism is usually another marker of cultural issues
within your business.
Monitoring progress on strategic initiatives ensures alignment
with long-term goals.
Example: A client improved their employee turnover rate by introducing leadership training, reducing voluntary exits by 20% within six months.
Market and Competitive Metrics: Staying Ahead
Understanding your market position and adapting to trends keeps your business competitive.
Shows how effectively your business competes in the industry.
Identifies which channels are most effective for
growth.
Helps you stay ahead of shifts in the competitive
landscape.
Expert Tip: “Knowing your market share isn’t just about competition—it’s about understanding where your growth potential lies.” – Anita Wildman, Principal, 4Front
Risk Management Metrics: Protecting Your Future
Anticipating risks is just as important as pursuing opportunities. Key metrics include:
Tracks adherence to legal and industry
standards.
Monitors risks in areas like cybersecurity, supply chain,
or market volatility.
Example: By identifying that they were getting close to the Queensland Payroll Tax threshold we were able to ensure our client avoided costly penalties and reinforced their processes to ensure future adherence.
Strategic Alignment Metrics: Keeping the Vision Clear
Strategic metrics keep your business aligned with long-term goals:
Measures how effectively the business meets its
objectives.
Focuses on 1–2 priority metrics per quarter to drive immediate
progress.
Evaluates whether current actions are advancing the
long-term vision.
Your Partner for Growth
An advisory board that tracks the right metrics is more than a guide – it’s a growth partner. At 4Front, we specialise in helping SMBs identify, monitor, and refine KPIs that drive results.
Ready to take control of your business metrics? Schedule a no-obligation consultation with one of our experienced advisors to see how the Board of Advice Program can help you thrive.
Let’s build a future you can look forward to. Call us at (07) 3875 9888 or visit www.4front.net.au to get started today.
Customer Reviews
“
Giles and his team at Herrington Business Consulting have been absolutely great to work with and they definitely have gone above and beyond for us by streamlining all of our accounts so that we can focus on what we do love to do and continue to grow our business. Morbi venenatis ut sapien eu lobortis.
Narelle Pamuk - Talk
Director, Radical Orange Pty Ltd.