How to Set Up Reporting
I remember when I started my business, I was just happy to get work, do the work and get paid. But once I started getting to a point where I was heavily scaling and turning over millions and millions of dollars, I needed to be able to run reports.
It was crucial I knew exactly how much:
- Time was being spent there
- Money was being spent there
- Of a % of jobs were made up of this how
- Of a % of jobs I needed to go back to.
You want to have your business set up from day dot so that there’s different coding for the way that jobs are scheduled and payments are coming in so you can actually generate valuable reports. That way you can see exactly where your business has been, exactly where your business is now, and exactly where your business is heading.
You can’t get that sort of information if you’re just shooting from the hip going to jobs sporadically. Have a look at you at your business and your situation right now and just have like a big hundred-foot view away from it and look at where you are. Then look at where you want to be. And what does that look like?
How many hours are your teams out for? What materials do you need? How much are your expenses? You’ve got to work these things out so you can work out what you need to do to break even and scale.
With reports, you can work out how many jobs (and what types) you need to do to make profit and move forward. You might be thinking that you could rattle off these numbers right now for last week – without a report. But can you do it for the week before or the month before? Can you tell me how many of those jobs or made money?
If you really knew the details of all your jobs, you’ll probably find that some of them aren’t even worth doing. So start looking into the areas where you can start reporting and begin that process. It will come back tenfold over the next few months and years.