Daily Grind, Daily Wins: My Reporting KPI Strategy

Observe and Report.
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As the saying goes, "It's really difficult to know where you're going if you don't know where you are." When you think about reporting, you pick the big one, the annual, and you break that down into bite-sized KPIs.

So, we talk daily about where we are today, how we are pacing for today, how yesterday looked, how to make this week a win, and then how that rolls up to the month, and then how that rolls up to quarterly, and so on.

Why? Because you need to be aware of what those numbers are saying in order to move forward. Let's talk about that.

The Big Picture: Annual Reporting

We're all facing challenges and opportunities. Reporting is not just about numbers; it's about making sure everything runs smoothly. As home service CEOs and operators, we need to envision our financial North Star.

Start with the big picture - the annual report. As home service CEOs and operators, we need to set our financial goal, like aiming for $1 million in revenue for the year. That's your guide. Break it down into smaller parts for you and your team.

When planning the annual report, focus on strategy. Look at the bigger picture without diving into immediate staffing or marketing plans. Evaluate the goals for the year – were they realistic last year, and how can we improve from last year?

Consider market demand, staffing needs, and the tools required to achieve these goals. This strategic approach ensures we can grow based on what worked in the past and adapt to the current market conditions.

Quarterly, Monthly, Weekly, and Daily: Breaking it Down

Quarterly reporting is akin to the annual plan, just on a smaller scale. If your annual goal is $1 million, then each quarter should aim for $250,000. Simple, right?

It's all about working backwards. Breaking it down further:

  1. Monthly targets would be $65,000
  2. Weekly lands at $16,000
  3. Daily is just a manageable $3,500

Navigating the Daily Waters

Now, let's talk about the daily grind. Imagine our big goal is $25 million for the year. To achieve that, we aim for $97,000 in completed revenue every day.

Details matter. Break it down further: $30,000 in plumbing, $40,000 in HVAC, and $30,000 in electric. These specific numbers drive our daily operations. Decide ahead of time what make sense for your business and break it down for each department.

We go even deeper, tracking and breaking down each aspect of the business. The more specific your tracking, the easier it becomes to identify what's working and what's not.

We break down HVAC intro install vs service vs tune up (some rows of the report below have been removed due to space):

Reporting in Real-Time: Why Daily Matters

Reporting is more than just looking back; it's like a real-time performance tracker. Every day, we gather to talk about Key Performance Indicators (KPIs). We get those through ServiceTitan, the all-in-one platform for tracking your business statistics down to the second.

During these daily discussions, we ask important questions to help us reach our goals. For example, we figure out how many phone calls need to be made at an 80 percent book rate, with an average ticket of $3,500, to meet our daily target.

It's all about staying on track, making quick adjustments, and ensuring we make a positive impact every day.

On a daily basis, if we realize we're falling behind, we'll switch the call center team to outbound calls. This means they immediately follow up on quotes, offering our best promotions and incentives to encourage same-day bookings.

On a monthly basis, if our progress isn't where it should be, we examine performance. If there are inconsistencies in the numbers, we look at training and might do more ride-alongs.

We investigate the root cause of the issues. Are we quoting properly? Are we not meeting customer requests? It becomes more of an investigative approach, essentially turning into daily coaching opportunities.

Start with your annual projection, develop your quarterlies, monthlies, and weeklies, all the while maintaining a keen focus on the daily operations. For home service CEOs and operators, reporting transcends mere numbers.

It involves navigating and pivoting towards success amid the distinct challenges we encounter.

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