Making sure you can hit your monthly revenue goals is key to a healthy bottom line. First, there has to be a plan and intention to hit those marks.
In this episode, Aaron Enfinger tells Tim and Steve about setting revenue and production goals, how to hit them, and why it helps prevent cash-flow problems.
Aaron is the general manager at The Cleary Company in Columbus, OH. In early 2017, he assumed the role of General Manager to address managerial needs The Cleary Company was experiencing, due to their pace of growth.
He starts his goal-setting process with a spreadsheet, and drills down from the yearly goal to the weekly numbers the company needs to produce to hit its revenue numbers. Then he works with his production manager and office manager to carry the plan through. Aaron gives you great ideas about how you can do this in your own company, including:
- Designing your production department to handle your goals
- Why weekly number will fluctuate
- What sets off alarm bells in the pipeline
- Scheduling to smooth out seasonal differences
- How job schedules relate to the master schedule
- Setting up incremental milestone draws in a job
- How often to evaluate your financials
- Setting expectations with clients at the beginning of the project
- Focusing your production team on their goals
- Why a cloud-based project management system saves time in invoicing
- And more …
Aaron also talks about how he found and used a powerful tool on LinkedIn to identify and recruit the company’s new production manager — from The Bahamas.
Click the link for the downloadable copy of Aaron’s Excel file.