Ep4: Weekly Scorecard for Moving Companies

All right, next episode here, we're talking about weekly scorecards. One of the biggest tools in all of my companies is I have a weekly scorecard that tracks the most important KPIs in our L10 meetings. We go over this scorecard. It's assigned. Every KPIs assigned to a certain team member, they're responsible to report that number. They own that number. They're the one responsible to move that number. Putting this in the business, super key for big, like moving, we started day one with this system. We just use a simple Google spreadsheet that has our scorecard laid out for the quarter. We do these per quarter and then we track it on a weekly basis. What I'll run through is just some of the things that we track, what we're looking for. All of this was really derived from me reading the book, Traction, Geno Wickman. If you haven't read that book, I would really pick it up right away. There's so many good systems that will make your business solid. This is one that I took away immediately and I put in all my companies and we just have never stopped. Essentially, what you're going to do is you're going to come up with the most important eight to 12 numbers and you're just going to be fanatical about tracking those every single week, every single week. You're going to get your top employees involved. If you're top employees, your key, call them your key employees. If they don't know the numbers, how do you expect them to grow the business? On your behalf, how do you expect them to do a great job if they don't know what the targets are? If they don't know what's important, right? I'll run through some of these KPIs we measure. You may have some different ones. These are ones for us. These are not in any particular order. I'm just going down the list here. We've got review rate. Review rate is we did 10 jobs. We got five star reviews. That's a 50% review rate. We track moves completed. We track on time dispatch. We track crew return time by 6 p.m. We track our claims ratio, which is simply just a dollar to dollar percentage value. We track how many rental trucks we've used that week. We track our fuel percentage. What percentage of sales was spent on fuel? We track how many movers and drivers are ready to work. We put that in two different ones. Movers ready to work. Drivers ready to work. We track inbound leads, booked moves, our sales conversion rate lead to booked. We got 10 leads and we booked four of them, 40%. Average move size in dollars. Weekly revenue. Our direct labor ratio. That's a percentage. Dollar to dollar. We spent, let's say, we did $10,000 in revenue. We spent $3,300 in labor, direct labor, then you got 33%. We put a document or cash balance. All the checking accounts for the company, total all that up, and that's our cash balance. We've got maybe a few more than what traction recommends. I think they really recommend less than 10. They're closer to about 15 to 18 numbers. But I've just found that these are what are important for our moving company. Some of these that I put in later on are originally I had review rate and claims and rental trucks and fuel percentage and direct labor ratio, weekly revenue. Kind of the ones you think of, right? But I added in things like on-time dispatch. For our business, we have a 15-minute goal. If our crew reports at 7.30, they better be rolling out by 7.45. No later than that. The person that's responsible for that number is the dispatcher. They report the number. They own the number. Their job is to hit that number. Through return time, 6 p.m., last summer, we had a lot of teams getting back late. We said, "If we're going to really do this thing right, we've got to start tracking it." We've got to pay attention. Our teams are getting back at 7.89 p.m. too much. It means that we're not properly setting up jobs or they're not properly working the jobs, so they're not efficient. We misquoted. There's just things that you can find. We track what we deem is important. There's going to be operations numbers. There's customer service numbers in the form of claims. We track staffing numbers. We track marketing numbers in the form of inbound leads. We track sales numbers. This has been super beneficial. If you don't do something like this, I'm not sure how you're operating. Numbers are the key to the business. Reports? When I say numbers, I mean reports. They're interchangeable for me. Numbers slash reports and meetings. That's how you run a business. A weekly scorecard. You don't have to have anything fancy. We just do it on a Google spreadsheet. On the columns. We literally, who's responsible for the number? The next column is the measure board, the KPI. The next column is the target. All the columns after that are every week for the quarter. We do it all the way out for the quarter. At the end of the quarter, we archive that spreadsheet. My executive assistant basically digest all that data and puts it into a report card for the quarter. I review the report card and I put a summary analysis on it. Game changer. Game changer. You want to grow. Just start looking at it in that way. Weekly, monthly, quarterly, and just keep moving the needle. This has been an amazing system in our business. My team knows exactly what my expectations are, what I want to hit, where we should be. If you're not doing something like this, I highly recommend it. If you need some inspiration, check out, check out traction, and they've got some resources online that you can literally just copy and paste how they format theirs. I'm pretty sure that's all I did. When you look at your numbers, if you're trying to figure out, "Well, Winston, what targets should I set?" That's up to you in your business, what's your standards, what's your goals. I struggled in the beginning a little bit on what the target should be because I just didn't have any historical data. If you got some historical data, just see where you've been performing and then set that target up a little bit. I've told and instructed my team, "Targets are meant to be moved." If you keep hitting the target, that means it's going to go up. That's a good thing. It means that we're growing. It doesn't mean that I keep moving it so that way they don't hit it. I move it so that way we can continue to grow, so we can continue to raise the standard, so we can continue to build. If you haven't implemented a weekly scorecard, highly recommend it. It'll get you dialed in on your numbers. You'll know way more about your business. It'll feel like you have an immense amount of clarity and your team will be on board with you. That's what we've got for this episode. If you're struggling for finding really great movers or drivers, just give Move-Up a buzz. I can't recommend them enough. They can turn out every single week, top candidates, come straight to your front door. You've got good billing plans. You can either go the volume round and do unlimited hiring for a set retainer every month or you can do a paper hire and not have a commitment long term or anything, but just, "Hey, I want to hire a driver. This is the cost for the driver. Boom by the boom." Check them out. MoveUpConsulting.com. Highly recommend them. Tell them once and send you.