What Metrics Should Entrepreneurs Track for Business Growth?
Several metrics can help entrepreneurs track business growth:
Revenue Growth: This is the most direct measure of business growth. Customer Acquisition: Tracking the number of new customers can provide insights into market penetration and brand awareness. Customer Retention: Retaining existing customers is often more cost-effective than acquiring new ones, and it indicates customer satisfaction. Profit Margins: Monitoring profit margins ensures that growth is profitable and sustainable. Market Share: Increasing market share is a sign of competitive strength and market acceptance.