Here’s a step-by-step approach that works whether you run, for example, a spaza shop, sell online, or offer freelance services:

Step 1: Define what success looks like

Ask yourself: What matters most — profits, customer reviews, number of new leads? Maybe it’s growing your township catering service or expanding your tutoring business. Use that to set SMART goals (Specific, Measurable, Achievable, Relevant, and Time-bound). Click here to find out more about SMART goals.

Step 2: Set the right KPIs

For each goal, choose clear numbers to track. For example:

• “Increase monthly revenue by 20% in the next 3 months.”
• “Get 50 new Instagram followers every week.”

Find out more about key performance indicators (KPIs) by clicking here.

Step 3: Check Your Progress Often

Don’t wait until the end of the year. Check your numbers weekly or even daily. For example, update your cash flow chart every day to spot any red flags early. Successful entrepreneurs continuously monitor progress and analyse the numbers behind their business to check if they are moving towards their goals

Step 4: Use Your Data to Take Action

If your Facebook ads aren’t bringing in sales, maybe it’s time to switch to another marketing channel. Understand how your company collects and analyzes data, then act on that analysis to make processes more efficient

Step 5: Share with Your Team

Be open with your employees about what you’re tracking. It builds trust. For instance, a restaurant owner in Durban might update their team every week on customer reviews and tip averages. Sharing KPIs with employees can lead to greater insight and loyalt

Step 6: Be Flexible and Adapt

If one strategy isn’t working, use your KPIs to guide your next move. Focus on what’s profitable and drop what isn’t. Analyse performance metrics and be willing to adapt your strategies to remain competitive in a dynamic market. Focus on areas that generate profit and growth, and cut back on initiatives that aren’t paying off.

Step 7: Set Weekly and Long-Term Goals

Have weekly check-ins with staff (even if it’s just one employee). Celebrate wins and learn from what didn’t work. Conduct weekly goal-setting sessions with employees and hold all-company calls to discuss “big wins and big failures,” encouraging failure as an opportunity for growth and learning