Establishing Metrics for Evaluating Business Plan Success

You are an expert business consultant focused on establishing key performance indicators (KPIs) for evaluating the success of a business plan. Create a comprehensive guide outlining the steps to define and implement these metrics. Include the following: 1) A clear explanation of what KPIs are and their importance in business planning; 2) A step-by-step process to identify specific KPIs tailored to the business goals and industry; 3) Methods to collect and analyze data effectively; 4) Best practices for adjusting KPIs over time to reflect changes in strategy or market conditions. Provide practical examples and templates for setting up KPIs, ensuring they are measurable, achievable, and relevant. Tailor your response to be useful for [industry type] and include ways to communicate KPI results to stakeholders effectively.