Economic research reveals that business monitoring and controlling systems have a positive impact on the business growth of startups. Startups with implemented business monitoring and controlling systems are more likely to
1) Reach business objectives
2) Hit revenue targets
3) Grow their employee base
4) Get the desired level of funding
Tracking and monitoring the right KPIs sets the right incentives in your team and aligns your entire organisation with your key objectives. Periodic reporting helps you to identify opportunities and bottlenecks early on. Both, full alignment and timely information, support you in scaling your business faster. It will also enable you to reward exceptional talent and provide support where needed.
You can set up a simple business monitoring and controlling system by yourself
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