We’ve recently started tracking our business on a weekly scorecard.
Our first draft leading measures:
- Past due work count for each:
- Unbilled WIP
- AR over 30 Days
- New Business Presentations
Our lagging measures
- YoY Revenue Growth
- 365-day Revenue/staff
- Gross Profit %
- Net Profit %
We have targets for each of these numbers. I’m curious what other firms are tracking. I don’t want to track too much. Smaller groups will eventually have their own scorecards to track details related to their work area.
My premise states that if we are doing these activities (completing work on time, billing work timely, collecting on billed work, and offering proposals for new work), our lag measures will head the right direction, and if they aren’t, there’s a deeper issue we can explore (like pricing, efficiency, etc.).