Measuring the performance of your processes is the first step in transforming your business. If you do not know something about your business, then you cannot improve it. I believe you should have measures in place for understanding your business performance all the time. They should be continuously measured, and whenever possible put on some type of control or metric chart which allows you to monitor trends that are occurring. When you have these measures, you can then make improvements whenever it is determined that you have a gap between where the processes are performing and where you need to be performing to compete. In this article, I have discussed establishing those measures, and given some examples of measures within the financial industry. I have also shared some tools, such as the SIPOC, measures matrix, and how to clarify your customer’s needs.