HOW WELL ARE YOU TRACKING YOUR BUSINESS?
In the last few months, the coronavirus pandemic has forced businesses across the country to tighten their belts. Odds are your company is among them, but even if you’re doing well, accurately tracking your business’s performance is more vital than ever. Of course, this is easier said than done. Even in good times, it’s difficult to know which key performance indicators (KPIs) to track daily, weekly, or monthly to get an accurate picture of how your business is doing. However, many successful entrepreneurs report that three KPIs rise to the top: churn, pipeline revenue, and average annual revenue per employee. CHURN This metric will tell you how many customers leave your business in any given month, which will then tell you how many new customers you need to bring in the following month to break even. If you track this KPI weekly and monthly, patterns will start to emerge, and you’ll be able to find holes in your systems and processes more
easily. Then, you can take proactive steps to reduce your churn.
hire, depending on the industry. The higher your RPE, the more effective your business is at maximizing its greatest resource: the people who work there. This number can become skewed or decrease if you’re growing quickly and hiring or if you’ve recently laid off staff. If you haven’t made changes and your RPE is under $100,000, you’re either overstaffed or facing a struggle ahead. As you’re tracking these KPIs, remember to be skeptical. If a metric looks too good to be true, it probably is! So dig in and double- check the math. If you uncover an inaccuracy, you can take steps to fix it, and if you find the number is accurate, you can learn from your successes. Armed with these metrics, you will be in a much better spot to be proactive in your business and solve minor problems before they ruin your month, quarter, or year. It’s a win-win situation, which is exactly what we need in these tough times!
PIPELINE REVENUE Your pipeline revenue is the total sales volume you’d have if you won each and every piece of business you quoted over a given period of time. When compared with your actual sales volume each month, it becomes an incredibly valuable number for setting goals and tracking. For example, if you need to produce $100,000 in new pipeline revenue to close your goal of $30,000 in sales each month but are only at $54,000 in pipeline revenue 20 days into the month when you should be at $67,000, then you’ll know that you’re falling behind and need to make adjustments. AVERAGE ANNUAL REVENUE PER EMPLOYEE (RPE) Most companies with over $1 million in revenue make a minimum of $100,000 in average annual RPE, and it’s not uncommon to see small businesses making $125,000, $150,000, or $200,000-plus per
Getting a DUI —While Using a Lawnmower?
AND THE REASONING BEHIND UNUSUAL DUI CIRCUMSTANCES In 2008 in Columbus, Ohio, Jeff Brown was arrested and convicted of a DUI while walking a bicycle across his own front lawn. Initially, the police officer was citing him for not having a headlight on the bike until he mentioned that Brown had the scent of alcohol in his breath. Brown was, understandably, shocked — however, refusing a Breathalyzer test subjected him to being convicted of drunk driving with four days in jail, a six-month driver’s license suspension, and a criminal record. Most police officers may not prioritize civilians walking their bikes to request Breathalyzer tests, but that doesn’t mean it’s never happened. The only reason police have ever been allowed to do this is because many DUI laws don’t specify directly that its rules are applicable only to cars . It says “motor vehicles,” and the most statutory definition of
a motor vehicle is any vehicle that is “self- propelled,” including a rideable lawn mower. For example, in Oklahoma, a man has been arrested for riding his mower up and down the street at 12:30 a.m. Police described the man as “very intoxicated” before arresting him for driving under the influence. Other vehicles that can count for a DUI include snowmobiles, golf carts, and horses or horse-drawn carriages. The best thing you can do is remember that drinking and using any self-propelled vehicle can put you at risk for a DUI. So, take the safest way home: Walk or take a ride-share service. But if you’ve found yourself in a nonautomobile DUI case, the laws can feel tricky to navigate — that’s why you want Georgia’s top DUI experts on your side. Call us today for a free consultation at 404-467-1747.
If you’ve been in the house for a few weeks, you might be thinking about biking to a nearby bar, catching a few drinks, and carefully walking your bike home. However, there’s a chance you could get a DUI for that.
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