![Forbes](https://cdn.successionplus.com.au/app/uploads/2023/10/27065738/Forbes.png)
To Drive Business Performance, You Must Understand KPIs
Dr. Craig West is the founder of Capitaliz and has been working with business owners on succession and exit strategies for over 20 years.
Key Performance Indicators (KPIs) are the beacon that guides business owners through the competitive seas of the marketplace. They are quantifiable measures that reflect the critical success factors of an organization and a powerful tool when coupled with benchmarking (essentially when you compare your business metrics to the standards of the industry or top competitors). It's like having a GPS for business strategy; it shows where you are in relation to where you want to be.