Episode 7 - Weekly Metrics
Let's talk about weekly numbers. These are numbers that we're going to step back a little bit. And instead of being on the ground in the forest, we're going to climb the trees and we're going to see it a little bit further. The first weekly number to keep an eye on is your gross profit number. Now I'm using that term weekly based on payroll frequency. If your payroll is weekly, then you can look at your gross profit every week. If you do it bi-weekly or bi-monthly, then that's going to be the triggering event to be able to look at gross profit. There's no number more important than your business besides billed hours, then gross profit. Gross profit is what pays the expenses and creates your net profit. So you've got to make sure that gross profit is on task every single time. Don't wait until the end of the month. Don't wait till the end of the year or the quarter to look and see how you're doing. That’s too late. If you're looking at it weekly, you can effect change within that month, and it can make a difference. Keep listen along - and learn!