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KPI means: Key Process Indicator
Why are KPI’s so important for my bar or restaurant?
- KPIs are important because they keep measurable objectives at the forefront of decision making.
- It’s essential that objectives are well communicated, so when people know and are responsible for their own KPIs,
- It ensures that the business’s overarching goals are top of mind.
How do I define effective KPI’s?
Use the SMART method and ask yourself:
- Is your objective Specific?
- Can you Measure progress towards that goal?
- Is the goal realistically Attainable?
- How Relevant is the goal to your organization?
- What is the Time-frame for achieving this goal?
Pro tip: Ask a RapidStock expert on how to help you find which KPI’s you should follow in your bar or restaurant.
Related article: 10 KPI examples for you bar or restaurant
About the author
Fabrice Tremblay
Fabrice founded RapidStock in 2017 after working as a production planner for almost two decades. Briefly a bar owner and tech lover, he was inspired by the challenge of helping passionate entrepreneurs in the bars and restaurants industry.
When not working on RapidStock, Fabrice enjoys cooking and spending time outdoors with friends and family.
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