When I first decided to write on this topic, I put a post out to my social media channels and groups. The question I posed was: What would you include on your horse business dashboard? Then the response came: What’s a dashboard? So I knew that this was a timely topic for the horse industry. Dashboards are used by many other businesses in other sectors to monitor their business throughout the year. Dashboards strive for simplicity of presentation of data related to your Key Performance Indicators, or KPI. Key Performance Indicators include areas such as: Marketing, Sales, Financials, and Operations. The data is often presented as trend lines, charts, and other visuals. This is how they came to be known as dashboards – when driving your car your dashboard provides at-a-glance insight into critical areas of the car’s operation. And so it is with your horse business dashboard also.
I consider the development and use of a dashboard as a best practice because it really helps you to keep your finger on the pulse of your business. I’ve seen several references during the months of June and July that it’s time to check on your business now, half way through the year. Granted, this is a good time to check on your business again, and not leave it to an annual checkup. A better practice is to monitor it monthly however, and the then after watching the changes from month to month, take a step back at the six month mark and look strategically and objectively at what all the monthly incremental changes might mean.