You probably get your (boring) company finances reports (Profit & Loss Statement and Balance Sheet) every month.
So you glance at the “net profit” on the P & L and think, “I’ll look at this stuff later.” BIG MISTAKE because…
If you are anything like me this “looking at this stuff later” probably never happens. Instead…
Use this weekly report to get a “current snapshot” of where your service business finances are AND what issues will be coming at you shortly!
Remember, “FOREWARNED IS FOREARMED!”
Weekly Financial Flash Report
Steve, Great advice, as usual. I like to track number of REVIEWS as well.
Is there a deeper explanation of the “Cheerleader index numbers” somewhere that you can provide a link?
~Mike
Thanks for reaching out, Mike! As you state, 5-star online reviews should be a key component of your ‘Cheerleader Index’ for each employee. I suggest to my clients they set up a ‘grading system’.
For example, give the employee 10 points for a 5-star review (maybe 20 if the client mentions them by name?), 5 points if the job was marked excellent on the returned Customer Comment Card (yes, snail mail still works!), etc. Then be sure to reward your techs. (I liked cold, hard cash handed out publicly at our weekly staff meetings!)
Let me know what you come up with, Mike, and thanks again for your comment!