Several tools and metrics can be employed to monitor business performance:
Key Performance Indicators (KPIs): Metrics that measure the success of various aspects of the business, such as sales growth, customer satisfaction, and operational efficiency. Customer Feedback: Direct input from customers through surveys, reviews, and social media can provide valuable insights into product and service quality. Financial Reports: Regular analysis of financial statements helps in understanding the financial health of the business. Market Analysis: Monitoring market trends and competitor activities can inform strategic adjustments.