Simple Financial Metrics That Can Help Measure Business Success

From PSN sister publication Remodeling:

"Construction-related businesses are complex by nature. Many involved in the industry are intimidated by the complex numbers and wide range of key performance indicators (KPIs) that confront their business. Simplifying the numbers to create effective measures of production, sales, and operations success can help yield financial business success, construction industry consultant Shawn Van Dyke said at the 2019 International Builders' Show.

Simple total revenue per employee, sales closing rate, and average weekly billing metrics can help focus financial efforts and help project the health of remodeling and building businesses, Van Dyke said at his Spotlight session “3 Simple Numbers to Measure the Financial Success of Your Business.” The three metrics are relatively simple for businesses to put together and do not require in-depth analysis of finances, but can help inform businesses where they may be lagging behind or leaving profit on the table."