5 KPIs Every Builder Must Know

There are five key numbers (Key Performance Indicators or KPIs) in a residential building company's financials that you must be completely across on a QUARTERLY basis…

It needs to be quarterly because most residential building companies generate less than $10 million in revenue a year, and their claims can be six to seven weeks apart, which means their monthly income can be a little volatile…

So it makes sense to look at your financials quarterly rather than monthly when comparing to the previous period, or the same period last year.

Of course, if you are not calculating your work in progress accounting adjustment (WIPAA) each month, then your financial reports are not going to make too much sense to anyone, no matter if you look at them monthly, quarterly or even annually!

A professional builder will look at all five financial KPIs in order to understand how well their building company is doing, rather than just focusing on the bank balance!

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[Daddydj]

Thanks for sharing your knowledge with us newbies