KPIs Small Businesses Should Track | On the Money Mondays, Episode #5

How can small business owners use KPI metrics to drive profitability? 💵

In Episode #5 of On The Money Mondays, Tyler Otto, president and founder of Specialty Bookkeepers, chats with us about identifying and monitoring key performance indicators to make your business more profitable.

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In each episode of On the Money Mondays, we interview a real-life accountant, business advisor or CPA, and have them tackle the most pressing questions from small business owners.

This episode covers:
🧭 When to start tracking KPIs for your business 
⚖️ The difference between accounting and bookkeeping vs KPIs
💰 Retail KPIs to track to increase profitability 
🏘️ Key metrics for short term rentals
🧐 How to price or discount your product or service

0:00 - Introduction
0:21 - KPIs every business can track
0:55 - The difference between accounting and bookkeeping vs KPIs
1:46 - The right time to start tracking KPIs for your business
2:10 - KPIs for increasing retail profitability
3:58 - Current Ratio
4:41 - Business metrics for short-term rental operators
5:37 - Forecasting FF&E reserves
7:26 - Reducing fees to maintain or increase your client base
8:40 - Where to find Tyler online

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