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Friday, 30 October 2020 18:09

Financial Incompetence is No Excuse!

Written by Dave Luehr

Index

4. Five Numbers You Need to Know Every Day

 

  • MTD Revenue vs. Goal
  • MTD Labor Hours vs. Goal
  • MTD Deposits vs. Goal
  • WIP vs. Goal
  • Scheduled WIP vs. Goal

 

See this recent article to learn more about these five numbers.

 

Wrapping It Up

 

I don’t want to come off too harsh here, but it is critical for shop leaders to understand this. We work in a time and in an industry that is becoming dominated by “businesspeople” who understand how to run businesses by the numbers.

 

Financial incompetence is no longer an acceptable excuse for poor business performance primarily because the education is so widely available. Whether a shop owner chooses to obtain some basics and then outsources the complicated stuff or wants to master it him or herself, it is time to start creating a prosperous financial future!

 

Like I said, if I can learn this stuff so can you!

 

We’re here to help. For help finding a financial expert who also understands our unique industry, email us at info@elitebodyshopsolutions.com.

 

To stay up to date on the release of the revolutionary KPI dashboard, with daily financial metrics for decision making, BodyShop Toolbox, click here.


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