Episode Overview
KPI tracking is ingrained in the DNA of Any Hour Group Chief Business Officer Lincoln Walpole.
He’s a disciple of keeping your eye on KPIs to help scale a company’s operations and build the bottom line.
Walpole has done more than his fair share of number analysis. He went from helping run a $10-million service business to overseeing 2,000 employees in an equity group that spans 30 locations.
“If we don't know our KPIs, we won't know what levers to pull to help us get back to performing according to our budgets,” he says.
Walpole believes a crucial ingredient is tracking the number of options you give customers.
“A confused mind says ‘no,’” he says. “So we want to make sure that we have the right number of options [for our customers], and we believe it’s roughly four to six, depending on the department.”
Along with all the customer-related KPIs, Walpole says employee satisfaction is a significant factor.
“We believe that retention is another major KPI that everybody should be tracking,” he says. “We take it really seriously when people involuntarily — or voluntarily — leave our business.”
KPIs are intensely important, but Walpole believes that if you run people out of your business, KPIs are not going to matter.
“We believe it's really important to have big data, so to speak, but then also to have the human element in your business,” he says. “If you can merge the human element and have the data to back it, that makes for a really powerful company.”
Lincoln Walpole recently joined ServiceTitan’s Jackie Aubel on the “Toolbox for the Trades” podcast, which included Walpole’s thoughts on:
[5:15] The top KPIs for tracking a service business’s success
[14:51] Benchmarking your KPIs to maximize your gross profit margins
[20:31] Why you should closely track your employee retention
[26:37] Day-to-day efficiencies
[31:16] Managing big investments and the cost of doing business
To hear more stories from the trades, subscribe to “Toolbox for the Trades” on Apple Podcasts, Spotify, Google, or anywhere you get podcasts.
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