Speaker 1: Let's look how and where we can look for KPIs and benchmarks of those KPIs. So first of all, just as a reminder before meeting with a specific director, you want to know two things. Which KPIs, drivers, metrics matter and what are the benchmarks for those KPIs, drivers and metrics. In other words, if we know that specific KPI is important, then to know what competitors roughly have value for this KPI and which value of this or level of this KPI is okay and which is excellent and which is bad. So this is something which will help you drastically to challenge and discuss with specific directors when you'll be covering his area of expertise. Now let's have a look how you can do both. We're going to show you some examples you can use during the preparation phase. So first of all, obviously, I would brainstorm for 15 minutes, try to define which things given your expertise and experience should matter in a specific business model. The more you do, obviously, consulting projects, the more easy it becomes, but there is always certain value in this exercise. Then I would look for official reports, especially public firms. They usually also give, apart from financial reports, certain information on important KPIs. So if you look at, for example, the number of retailers, you would see that they also report number of square meters of stores that they own, that they have added, number of stores, number of brands, and something which is called like for like growth, so same store growth. So if you look at such reports, obviously, you see what they think is important, and this you can compare with the results of the brainstorming session that you did on your own. I would also look at press release, blogs, posts done by experts. So you'd have to obviously identify who really understands a specific industry. It's either analysts that are covering specific industry or they might be people working in this specific industry, maybe CEOs, COOs, or former CFOs of specific companies from this industry. Another huge valuable resource is to look at the interviews with the CEOs, COOs, and some directors. You can find them either in investor relations of a specific company, if it's quoted on the stock exchange, or just browse through YouTube. There are plenty of those that will give you insight into how they think, what do they concentrate on, and what kind of KPIs, drivers they are looking at. And obviously, there you also find benchmarks, because quite often they quote how specific KPIs looks for their company. I would also look at the analytical reports prepared by analysts. Some of them are prepared for valuation purposes, and they have to be done on regular basis for publicly quoted companies that are on the stock exchange. There you will see, first of all, what KPIs they are looking at, but also there you will get insight into current level of those KPIs for specific companies, so in a sense you have benchmarks. I would also look at market reports. Some of them are paid, part of them are released within specific aggregators like Statista. There you obviously find the size of the industry, what is the size of the industry is measured. There will be also some benchmarks that will be very useful during the interview. Some companies and some industries are so nice that they actually show their KPI reporting system and they are publicly available. This is, for example, true for some of the SaaS companies and also retail companies. They would publish on monthly basis the KPIs. SaaS companies even give you access to their reporting system, so you can see in details at some of the KPIs like a lifetime value of the customer, what is the payback time, what is the cost of acquisition and things like that. So always check whether such data are available and you'd be surprised that even companies that are not quoted on the stock exchange, they reveal such things. And finally, you can have any other analytical reports covering firms or industries, so look for them as well. Some of them are available in investor relations, other in some aggregators, and you can also find part of them on SlideShare where they are uploaded by independent analysts. So that's in short when it comes to how and where to look for KPIs and benchmarks. So have a look at that and always before the meeting try to find data on that. In total, I would devote to this exercise from 1 to 4 hours in order to understand quite well what data are available and what things you should pay attention to during the interview with the director or manager.