For businesses that want to scale and grow, the ability to measure and evaluate progress is vital for achieving an organization’s goals and ensuring its sustained growth. In this blog, we'll delve into the importance of having measurable Key Performance Indicators (KPIs) with tangible outcomes, and highlight the repercussions that neglecting this fundamental practice can have on your team, your company, and your overall success. The Pitfalls of Unmeasurable Outcomes Imagine navigating a ship without a compass – the result is a directionless journey fraught with uncertainties, during which no one knows if they’re on the right track or in what ways they could course-correct or improve. This is the reality, whether it’s obvious to them or not, that all companies lacking measurable outcomes and clear goals face the risk of. Some are better at ‘faking it until they make it’ than others, but sooner or later the unpreparedness and lack of proactivity that mark these groups will make itself known. Without a compass to guide them, organizations may struggle to understand their performance, leading to wasted resources, missed opportunities, and the potential for project failure. The Costly Consequences of Unorganized Goals Consider Company X, which embarked on a marketing campaign without establishing specific, measurable objectives. Without clear metrics, the team found it challenging to assess the campaign's progress and success. While they had no insight into their success, valuable time and budgets were squandered and the company failed to capitalize on potential market opportunities that they otherwise could have had they been more organized and prepared. This scenario illustrates the critical need for measurable outcomes to guide decision-making and optimize resource allocation. The Power of Measuring Results On the flip side, organizations that embrace measurable outcomes and lean into the valuable data they can derive from them are equipped to make informed decisions, adapt to changing circumstances, and thrive in the competitive business landscape. Take Company Y as an example, which implemented a project management system that tracked and measured key performance indicators at every stage within a major year-long project. This project required several teams to work interdependently, which meant many moving parts. Knowing this, Company Y created several workflows that allowed for progress tracking, data collection, and more efficient collaboration. As a result, they could analyze data in real-time, identify bottlenecks, and make timely adjustments. They knew where they were, what was working, and what they needed to do to get better. This proactive approach not only enhanced project efficiency but also enabled the company to make data-driven decisions that positively impacted its bottom line. Key Performance Indicators for Small Businesses Now that we've established the importance of measurable outcomes, let's explore some Key Performance Indicators that all small businesses should track to ensure improvement and growth. Customer Acquisition Cost (CAC): Knowing how much it costs to acquire a new customer helps businesses allocate marketing budgets more effectively.  Customer Lifetime Value (CLV): Understanding the long-term value of a customer enables businesses to prioritize customer retention strategies. Project Timeline Adherence: Tracking project timelines ensures timely completion, helping small businesses build a reputation for reliability. Employee Productivity: Monitoring individual and team productivity ensures optimal resource utilization and identifies areas for improvement. This could include Revenue per Employee, Profit per Employee, or a number of other metrics. Return on Investment (ROI): Calculating the ROI of various initiatives helps businesses focus on activities that generate the most significant returns. Tracking KPIs can be a daunting task, especially for small businesses navigating the complexities of project management. Brewster Consulting encourages businesses to prioritize measurable outcomes and clear KPIs, while helping them create tailored solutions to streamline the tracking, analysis, and solution-creating process. By doing this, companies can steer their projects with precision, avoid the pitfalls of unorganized goals, and position themselves for sustainable success and growth over time.

For business owners and founders feeling stuck in your data strategy, the evolution of the project management office (PMO) provides hope. By partnering with a forward-thinking PMO implementation partner, you can break free of rigid project management models to embrace agility, innovation and value creation.

The Project Management Office has evolved from a purely administrative function into a strategic driver of business objectives. While larger enterprises have embraced strategic PMOs, many small and midsize businesses assume they lack the resources for robust project governance. However, implementing even basic PMO capabilities can provide huge value to SMBs by aligning projects, improving visibility, and driving ROI. Here are key ways SMBs can leverage PMOs to enable growth.

For ambitious small businesses looking to grow, making data-driven decisions is no longer a “nice-to-have” - it is a competitive necessity. However, many companies lack the expertise and resources to implement an enterprise-grade business intelligence (BI) program that transforms data into strategic insights. Hiring a full-time BI manager or team is costly and often exceeds the company’s needs. This is where partnering with a Fractional Business Intelligence Manager can provide tremendous strategic value.

Frustrated by your lack of insight into your customer's behavior? Maybe you're struggling to understand where you win or lose customers on your website. It's time to invest in customer journey mapping! Our complete guide walks you through each detail and enables your small business to feel confident about winning more customers with each visit to your site!

Do you feel like you've run out of bandwidth? You’re in a constant state of change and evolution, all while competing with other companies who may have more resources and larger budgets. In order to keep up with your priorities and continue to scale your business, you need a Project Management Office (PMO) to manage organizational assets and opportunities. In this article, we’ll explore what a PMO is and why it is such an asset for growing businesses.

Is your team totally aligned on procedures and KPIs? How do you know if they are? Data Dictionaries are a critical component of the growth strategy for successful businesses. In this article, you'll learn what a Data Dictionary is, how you can build it, and what benefits your business experiences as a result.

Businesses go about their workdays without realizing an important problem: their data sucks. Bad data is a serious roadblock, but there is a solution. Learn about the signs and pitfalls of bad data, but more importantly, learn about what you can do about it!

Data analytics plays a pivotal role in the healthcare industry by transforming vast amounts of medical and patient data into valuable insights that drive informed decision-making, improve patient outcomes, and enhance operational efficiency. Learn more about how healthy data leads to healthier futures and better patient care.