Watch Your Money

Posted on March 9, 2010

For those who go with the "la la la," fingers-in-the-ears approach to key performance indicators, Tom Grandy covered in his workshop today the exact measures contractors should be watching on a monthly basis to ensure profitable growth.

In his session, "Effective Financial Analysis & Key Performance Indicators for Contractors," Grandy contended that contracting companies should measure every single service technician against 24 key performance indicators.

"This is the basic stuff we ought to be watching every single month," he said. "None of these all by themselves will tell you exactly what's going on."

He explored with workshop participants the steps they must take to set KPI goals, and then accurately measure the performance against the goals.

Just one report or a few financial numbers are like a couple of pieces of a puzzle--it won't give you the full picture, Grandy said. "You can be priced perfectly but cash flow can put you out of business," he said. "That's the value of putting things together on a graph. You can build a visual of what's going on."

Other workshops on a variety of HVACR business topics are continually presented this week in Tampa as part of ACCA’s 42nd Annual Conference and Indoor Air Expo. Read all of our blogs and news updates from the event at www.accaconference.com, or from your mobile phone at www.acca10.com.