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KPI and KSI respectively stand for Key Performance Indicators and Key Success Indicators. These terms are often used interchangeably. These indicators, whether performance or success, can be seen to be the most important parameters of performance or success. 

For example, fast turn around and cost of execution make up two important criteria for successful execution of a project. Faster turn around actually means lower amount of manpower time resulting into lower manpower costs. 

A small business owner who is into trading can also apply these concepts to his business. For example, higher number of leads per month and higher rate of conversion can act as KPI’s or KSI’s for the business. Both of these parameters can be set before hand and reviewed / monitored continuously. Setting of KPI’s / KSI’s helps the small business owner to focus on these two exclusively and devote more time towards monitoring these indicators. This also helps in proper time management of the overall business.

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