It’s more important than ever to know your business. You’re collecting tons of data but if you can’t use it to improve your business, then what’s the point? Focusing on the right key performance indicators equips you with the knowledge needed to maximize your business profits.
Remember, software is a tool, not a standalone solution. While software doesn’t simply “fix your problems,” it can serve as a tool to organize and streamline processes. Be sure to follow these best practices to ensure your investment in technology pays off.
A common error in estimating is the assumption that markup and margin are interchangeable. Although both can be used to calculate a sales price for your estimates, knowing the difference between markup and margin could save your bottom line.