Episode 72

March 17, 2022

Topic: How to Automate Your Critical KPIs

Guest: Dan Gordon & Donnie Shelton

Click here to listen.

In this episode we discuss:

• Why key performance indicators (KPIs) are a critical concept, but it's important to ensure you're comparing apples to apples when discussing with other business owners

• How access to data is not the issue — insight is the issue

• Why it's important to consider which indicators are essential to your company's success

• Causation vs. correlation

• Leading indicators (measuring actions) vs. lagging indicators (measuring results)

• Critical marketing KPIs (lead volume, cost per lead, cost per sale)

• The finance KPIs Donnie looks at (monthly cash forecast, daily QuickBooks and bank transactions, daily revenue, profit forecast)

• Why it's also important to look at technician production

• The importance of accounts receivable (AR)

• Tools to manage accounts payable (AP)

• Operational KPIs Donnie tracks (gross margin, production, revenue per stop)

• Office KPIs Donnie tracks, including time on call

• HR KPIs Donnie tracks (bench strength, employee net promoter score, turnover)

• How to monitor KPIs (dashboards and sub-dashboards)

• Books and resources on KPIs

Resources mentioned:

• Dashboard software (Power BI, Klipfolio)

• Book: The Great Game of Business by Jack Stack

• Book: Measure What Matters by John Doerr

• Book: The Balanced Scorecard: Translating Strategy into Action by Robert Kaplan and David Norton

• PCO Bookkeepers article: How to Drive Corporate Performance with a Business Strategy and Scorecards

• Book: Traction: Get a Grip on Your Business by Gino Wickman

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