DMN8 the Day

Knowing your Numbers and Digging Deep - DMN8 the Day 137


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January 2022, and we're talking about getting your business to the next level. What are you doing to get your business to the next level? What is the next level in your business? Look like many, many questions that you have to answer, but let me give you a tip to help you get your business to the next level today. I wanna talk about knowing your numbers and digging deep, digging deep into your numbers. We talked about knowing your numbers for planning at the end of 2021. But I wanna talk about knowing numbers that are inside of the business, not just dollar amounts, but if you keep inventory of that you use in your business, like how much inventory do you have on hand? How long does that product last you? How much revenue should that product make you? Really getting into the specifics of the things that you have in your business? You might have, it might be you and a truck. It might be you and a couple employees in a truck and two trucks. It could be a couple of teams. It could be an office staff, whatever it is like, the things that you have and that you've paid for how much money should it make you? And how many of those things do you have currently on your truck, in your shop, at your warehouse, in your office. Those are the things that you should be digging deep into on a weekly and monthly basis. Understanding where your money currently is and how it's going to work for you is gonna help you be able to strategize. It's gonna help you to be able to plan, and it's gonna help you be able to utilize and implement your money to make you more money. Not knowing exactly how that five-gallon a product helps you, not knowing how that five, how much money that five-gallon a product makes you, not knowing how much that product, that five-gallon product cost you, not knowing those things is unacceptable. If you have a five-gallon bucket of product right now, you should be able to look at it and say, that is X number of dollars in revenue, that will last us X number of hours of service, that will provide X number of customer service. It costs me X number of dollars per ounce, per gallon, per customer. All of those things should happen with every product that you provide or every product use inside of your service business. If you don't know those things, you're going to fail. I know roofers that don't know what a nail costs, nor how many nails it takes to complete a job. And when I ask them that question, they look at me and go, what are you talking about? I guarantee you if you know your consumables if you know your minimal numbers, you can number one, make more money, make a higher profit percentage and take better care of your business. You wanna get your business to the next level, dig deep into your numbers. Know the numbers of the small things. You focus on the small things, you'll get the big things, and you'll DMN8 the day.
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DMN8 the DayBy Gary Geiman

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