Improving Long-Term Business Growth in 10 Minutes a Day

Commitment to a brief daily review of a three-day pace report helps Frasier’s Plumbing better monitor the financial health of the business

Improving Long-Term Business Growth in 10 Minutes a Day

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Company revenue and expenses once weren’t something Phil Frasier had a solid daily read on. Now it is, and his family’s longtime business, Frasier’s Plumbing, Heating & Cooling in Rhinelander, Wisconsin, is stronger because of it.

“It used to be about four days out that I would get solid information on our financial position and projecting monthly revenue. Many times it was too late to respond to the need to hit our goal,” Frasier says.

These days, this is the daily routine: Frasier receives a three-day pace report by 9:30 a.m. that he can access right on his cellphone. The report does exactly what its name implies. Taking into account the year-to-date budget and revenue, the report — thanks to the kind of computer software available today — takes a look at the company’s next three days.

“It’ll go by department and tell us our goal for the month based on our budget and where we’re at right now. It shows actual sales but also our pace. What are we on pace to do by the end of the month if we keep doing what we’re doing, and our service calls for three days — how many calls we need in each department, and it’s based on who’s working and who’s on vacation and how many we actually have scheduled. It shows if we are overbooked or if we need more calls to hit our daily revenue goal.”

All of the information in the report drives a short daily conference call that involves Frasier, service manager Kyle Leighton, and the company’s dispatchers, customer service representatives, install coordinator and bookkeeper.

“We do a 10-minute phone call and it’s all based off the three-day pace report,” Frasier says. “We talk over it, make decisions on what needs to be done to win the day. It really helps us maintain a regular pulse on the business.”

Read more about Frasier’s Plumbing in the February 2018 issue of Plumber magazine.


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