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The following page was printed from RemoteCentral.com:
| Topic: | Business Metrics This thread has 19 replies. Displaying posts 1 through 15. |
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| Post 1 made on Monday February 13, 2012 at 20:27 |
MNTommyBoy Senior Member |
Joined:
Posts: | November 2010
1,041 |
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What do you guys track in order to grow your business or make it better? This may be more for the smaller shops. Here is an example of what do, feel free to add....
I have a excel spreadsheet that I track the following on: Install by name (with qtrly and ytd totals), Source (client, referral, Service Magic etc), Revenue, Use Tax, COGS, Profit, and overall Margin% for the job. I just added actual Install Hours for the job, and a profit/hour based on Install Hours plugged in.
I also total Revenue, Profit, Margin%, and % of YTD Revenue for all Sources of business. That way I can track where I'm getting ROI.
TIA,
Tom
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"There's a big difference between winging it and seeing what happens. Now let's see what happens." ~MacGruber |
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| Post 2 made on Monday February 13, 2012 at 20:38 |
Ranger Home Super Member |
Joined:
Posts: | June 2007
3,476 |
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Get quickbooks and never use excel again. QB will do those reports for you.
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| Post 3 made on Monday February 13, 2012 at 20:41 |
ceied Loyal Member |
Joined:
Posts: | February 2002
5,742 |
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On February 13, 2012 at 20:38, Ranger Home said...
Get quickbooks and never use excel again. QB will do those reports for you. ditto +1
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Ed will be known as the Tiger Woods of the integration business, followed closely with the renaming of his company to "Hotties A/V". The tag line will be "We like big racks and tight holes"... |
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| Post 4 made on Monday February 13, 2012 at 23:01 |
Any good QB services for beginners? Really looking into Steve Firszt's webinar ( [Link: ffbizcoach.com]). I have watched a few of his webinars and am really impressed. (sorry in advance if this de-rails the thread) Brad
Last edited by BradKas on February 13, 2012 23:31.
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| Post 5 made on Monday February 13, 2012 at 23:11 |
kyleadv Long Time Member |
Joined:
Posts: | November 2006
166 |
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I recommend that you talk to Steve Firszt.
If you start your tracking system using his system you be light years ahead of doing it on your own. Steve understands your business.
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| Post 6 made on Monday February 13, 2012 at 23:15 |
Ernie Gilman Yes, That Ernie! |
Joined:
Posts: | December 2001
30,076 |
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That won't derail the thread if you'll let us in on it. Does Steve Firszt do seminars on Quickbooks? Does he do seminars on Business Metrics?
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A good answer is easier with a clear question giving the make and model of everything.
"The biggest problem in communication is the illusion that it has taken place." -- G. “Bernie” Shaw |
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| Post 7 made on Monday February 13, 2012 at 23:31 |
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| Post 8 made on Monday February 13, 2012 at 23:33 |
Terrmul Advanced Member |
Joined:
Posts: | April 2005
963 |
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Steve Firszt is great. Doesn't hurt that he's a great guy too. Also check out a terrific book from Leslie Shiner called "Turning a Profit as a Contractor". Easy read and details good ways to track the relevant metrics though a little more detailed than Steve.
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www.beyondhometheater.com[Link: facebook.com] [Link: twitter.com]Performance Technology For Your Home. |
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| Post 9 made on Tuesday February 14, 2012 at 00:47 |
ceied Loyal Member |
Joined:
Posts: | February 2002
5,742 |
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+ 1 on Steve. He is awesome
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Ed will be known as the Tiger Woods of the integration business, followed closely with the renaming of his company to "Hotties A/V". The tag line will be "We like big racks and tight holes"... |
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| Post 10 made on Tuesday February 14, 2012 at 02:24 |
SOUND.SD Loyal Member |
Joined:
Posts: | April 2006
5,523 |
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Wow! Great info in this thread! Why have I not heard of this guy before? He does this specifically for integrators and doesn't have a presence here?
How have I missed this?
Its a major focus this year to get the books in better shape as business continues to grow.
I will be following up on this!
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Bulldog AV - San Diego, CA www.bulldog-av.com[Link: facebook.com] |
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| Post 11 made on Tuesday February 14, 2012 at 02:45 |
Mario Loyal Member |
Joined:
Posts: | November 2006
5,680 |
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He's on IP.
I took his 4 session (once per week) class last year. A lot of good info.
I will not do the estimate/invoice they way he teaches it, but everything else is spot on.
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| Post 12 made on Tuesday February 14, 2012 at 08:30 |
cgav Select Member |
Joined:
Posts: | September 2009
1,568 |
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Would you recommend it for someone who is quite versed with QuickBooks already? I've visited the website and I'm intrigued, but curious if it will be redundant if I already know quickbooks pretty well.
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| Post 13 made on Tuesday February 14, 2012 at 08:44 |
kyleadv Long Time Member |
Joined:
Posts: | November 2006
166 |
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cgav, I would recommend it if you know quickbooks. He has a a away of organizing your accounts to be able to measure the key metrics you want to follow. I think he does some free webinars occasionally that give you insight into what he does.
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| Post 14 made on Tuesday February 14, 2012 at 08:55 |
Fred Harding Super Member |
Joined:
Posts: | October 2001
3,430 |
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Steve aka coach is the man to talk to about this. Known him for years, and strongly recommend his services to all sorts of companies.
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On the West Coast of Wisconsin |
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| Post 15 made on Tuesday February 14, 2012 at 10:38 |
BigPapa Super Member |
Joined:
Posts: | October 2005
3,139 |
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Another strong recommendation for Steve Firzst (Coach).
He will teach you how to use Quickbooks as an integrator since he owned a retail/custom install shop.
You still have to do the work but it's good to have an insight from somebody else. He's very good at that. The first thing you do after you get some biz and money coming in is get your business in order. Metrics are key. The best time to do this is when you are small, maybe even before employees. Once that process is sound then growth will be more controlled and the business will be more structurally sound.
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