Like most data-driven individuals, you are seeking more knowledge. Because in the fast-paced industry of SaaS, you fight an on-going battle between fueling the fire and allowing your business take off by itself. You know that hard work, creative thinking, and persistence will help keep your business on top.
As mentioned, the world of SaaS is incredibly fast. This might cause uncertainty in many aspects of your business. For instance, when your product or service components are constantly being upgraded or redesigned, your company is growing, and your roles becomes even broader than it already is. However, this is what makes SaaS so significant, and is also what makes the data involved extremely valuable, allowing for further and more effective integration.
What this means is that information should be utilized to make data-driven business decisions, which is a wise quantitative approach to decision-making, rather than depending strictly on your gut instinct.
The bottom line is, if you and are working towards getting a leg up over your competitors, or staying on top of an ever-changing and dynamic sector, the more data-consideration strategies you use when making business decisions, the better.
What is a KPI?
A Key Performance Indicator (KPI) is a measurable value (metric) that indicates how a company is performing within its many aspects. Many organizations use SaaS KPIs on multiple levels to evaluate where they stand and their success towards achieving business objectives.
High-level KPIs may focus on the overall performance of the company, while low-level KPIs may focus on individual processes in a business, such as; marketing, finance, sales, etc…
Depending on the specific department you are developing KPIs for, there are a number aspects you should consider examining as each department will want to measure their success based on goals and targets specific to their practice.
Being ‘SMART’ about your KPIs
An easy way to remember how to evaluate the relevance of a KPI in business is to use the ‘SMART’ abbreviation.
The letters are an acronym for; Specific, Measurable, Attainable, Relevant, and Time-based.
In other words:
- Is your objective Specific?
- Can you Measure progress towards that goal?
- Is the goal realistically Attainable?
- How Relevant is the goal to your organization?
- What is the Time-frame for achieving this goal?
Why KPIs Fail + Common Mistakes
Once your KPIs have been clearly defined, you should have a rough idea on how to achieve your targets, and be clear on metrics used to measure and evaluate your progress, though this might sound like it a solid business structure is established, it’s easier said than done.
When it comes to implementing performance measurement strategies, the reality is at often times quite different and much harder to achieve, even if your objectives are clearly defined.
Unfortunately, KPI’s do fail.
Five ways KPIs typically fail are because they:
- Are poorly defined.
- Are Too hard to measure.
- Lack of accountability.
- Are not achievable.
- Lack specificity.
Hire Freelance SaaS Developers Online
In today’s world, there is an abundance of developers available online. With digital marketing reaching new highs and growing at a rapid rate, there has also been an increasing demand for developers. Businesses are looking to stay relevant and need to establish a strong online presence to be able to compete. However, not every business has the financial resources to hire developers on a full-time payroll.
Due to this, many companies are recruiting personnel through freelancing agencies in order to avail the services of freelance developers online.
If you are a small business owner operating through a cloud-based network and in urgent need of a freelance developer, consider the following.
- Search for developers on reputed online sites such as GitHub, Upwork, and Guru. These websites have their enrolled members go through a screening process before their information is made available to you.
- When selecting potential candidates, be sure to ask about their previous developing work and experience, which developing field they specifically specialize in, and if available, view samples of their work (not sourced from their portfolio) to check if their expertise fits your current and future requirements.
- Once you have selected your developer, make sure that you both establish a budget or an hourly rate before commencing work on the project. Through this method of payment, you will not underpay or overpay the developer for his or her service.
The Best Websites to Find a Freelance Developer
GitHub is more of a developer community rather than a freelance job site. The community is made up of experts, professionals and pioneers that all work together to build industry leading software. All its members are highly skilled in all types of software development. If you’re looking to hire freelance developer from GitHub, your project will receive the best solutions from top notch developers.
Virtual Employee is a website portal that connects employers with freelance developers from India. The average prices for a freelance developer’s services tend to be less than those listed on other websites. If you have any financial restraints that prevent you from hiring a lead developer, you can check Virtual Employee as their pricing rates may fit your budget.
LinkedIn is one of the go-to websites for business owners looking to connect with professional developers. Similar to other freelance websites, you can use LinkedIn to post an advert that indicates what type of developer you require and for what purpose.