Tracking Business Data

darcie smith

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Everyone tracks sales, payroll, expenses, etc. What other metrics do you track and how do you do it? To what use do you later put that data?

This spring, I started tracking how many jobs we book per day/week so it may help us plan staffing for next year. It would be useful if HCP had a report you could pull that would tell you so I wouldn't have to track it in a planner, and maybe it does, but I haven't found it. Business has kinda exploded for us, and I am curious to look at it next spring compared to this year to see if it's a trend or just a weird year.

I also write down when I paid which bill and how much, even though it goes in Quickbooks, and what date I mailed the invoices that aren't electronically sent, just so it's handy if Scott asks. I make notes of phone calls with customers that aren't just to book or ask questions, like if a spot came back or if there was some issue with an employee.

What else should I be tracking that I haven't thought of?
 

jkowalski

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Just our dashboards alone track 27 different KPIs that you can compare month-over-month or year-over-year. Helps you keep your progress on moving your business forward.
 

darcie smith

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Just our dashboards alone track 27 different KPIs that you can compare month-over-month or year-over-year. Helps you keep your progress on moving your business forward.
I understand, Joe. We keep up on FB, you're great. I am not in charge of making software decisions for my company, nor do I have much ability to sway the one who does. I am interested in what others in the business are tracking and why it's important to them.
 
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jkowalski

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I understand, Joe. We keep up on FB, you're great. I am not in charge of making software decisions for my company, nor do I have much ability to sway the one who does. I am interested in what others in the business are tracking and why it's important to them.

Thank you so much for the kind words! At the end of the day, I just want to see others grow. So if our solution isn't the best for your business, totally get that. :-)

Here to help
 

PrimaDonna

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Just our dashboards alone track 27 different KPIs that you can compare month-over-month or year-over-year. Helps you keep your progress on moving your business forward.

Since Darcie doesn't use SM. What Do you mean by your dashboard?

What is a kpi? (I know but bet many Don't and won't say for fear of looking stupid)

Tech talk again. Even when told it needs to be layman's. :hopeless:

Sigh.....
 
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PrimaDonna

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Key Performance Indicators


And they are what for an owner operator? Give examples. What should they be measuring? Why? How can your product help them measure KPIs?

Blank slate. Assume We know nothing! The average cleaner than doesn't work with a consultant or HP or other business leader doesn't know what a KPI is or why they should be concerned with it.

I know....I know others here know....but I'd best most are so busy working in and growing the business they have never even heard of it.
 
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J. Brightwell

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David Moynihan
Joe do you have a Techie talk cheat sheet?
All your acronyms leave me guessing.
KPI is business speak, not techie talk. KPIs have been around for a long time but the current use in business can likely be attributed to the focus on TQM (Total Quality Management) in the 80s and 90s.

I also write down when I paid which bill and how much, even though it goes in Quickbooks, and what date I mailed the invoices that aren't electronically sent, just so it's handy if Scott asks. I make notes of phone calls with customers that aren't just to book or ask questions, like if a spot came back or if there was some issue with an employee. What else should I be tracking that I haven't thought of?
What you're describing is record keeping, including duplicating existing information, as opposed to measuring business performance. Here are a couple of books that provide a basic intro to measuring performance.
  • Measuring Performance / Dr. Bob Frost
  • Keeping Score: Using the Right Metrics to Drive World-Class Performance / Mark Graham Brown
If you are serious about implementing a measurement framework, I recommend becoming familiar with the Balanced Scorecard (BSC). It's a framework that measures more than just financial performance. The idea is that financial data is a lagging indicator, telling you what has already happened. But if a business looks at its performance across multiple perspectives that are interdependent, financial performance, both good and bad, can be predicted. I'm currently working on incorporating a BSC with the Baldrige Criteria for small service businesses. I'd be interested in learning where Service Monster is on this. This is the original BSC book but there are plenty of other books and articles to be found that can provide an explanation of the BSC. -- Balanced Scorecard: Translating Strategy into Action / Robert Kaplan & David Nortan

The one thing that really has to be understood about measuring business performance is that you need specific goals and objectives against which to apply your measurements. Otherwise, whatever you measure doesn't mean jack and is a waste of time.
 

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