You can run a successful business without reinventing the wheel. Instead, it would help if you were brilliant at the basics. Tools like your quote register, work-in-progress (WIP) tracker, key numbers, and profit and loss (P&L) reports form the foundation of predictable growth. When used consistently, these tools can transform how you operate and help you eliminate the peaks and troughs in your workflow.
The Quote Register: Your Pipeline Power
Your quote register is your first line of sight into the future of your business. Based on your recent quoting activity tells you how much work you’re likely to win. Want a solid start to the new year? Look back at the quotes you did in August, September, and October—that’s what will drive your January workload.
If your quote register shows a gap, don’t panic. Pick up the phone. Follow up on recent quotes, reconnect with past clients, or ask for referrals. Consistent quoting and follow-ups are key. Remember: stop quoting, and your pipeline dries up.
Work-In-Progress (WIP): What’s Happening Now
Your WIP tracker is like a conveyor belt, showing how much work you’ve secured and when it’s set to be delivered. For instance, if you know you need $120,000 to break even in November but only have $90,000 scheduled, that $30,000 gap becomes your focus.
The earlier you spot these shortfalls, the more time you take to act. Waiting until the month starts to realise you’re behind is a costly mistake.
Key Numbers: Your Business Dashboard
Think of your key numbers dashboard as a health tracker for your business. It gives real-time insights into your financial performance, from revenue to expenses. Regularly updating and reviewing these numbers helps you understand how you’re tracking against your targets and enables you to adjust as needed.
Consistency is key here. The more often you review your key numbers, the more precise your understanding becomes. Over time, trends emerge, making it easier to make informed decisions and stay on track.
Profit and Loss: The End Result
Everything you do—your quoting, WIP management, and critical numbers tracking—ultimately shows up in your profit and loss report. If you’re diligent with the basics, your P&L will reflect a business running smoothly, with steady growth and consistent profits.
On the other hand, paying attention to these fundamentals often leads to financial strain and missed opportunities.
Brilliant at the Basics: A Daily Commitment
Success doesn’t come from grand gestures but from getting the small things right every day. Tools like your quote register and WIP tracker might seem simple, but they’re mighty when used consistently.
Here’s how to stay on track:
- Default Diary Discipline: Set aside weekly time to review your quote register, WIP, and critical numbers. This isn’t optional—it’s the highest hourly rate activity you can do as a business owner.
- Consistency in Sales: Always be quoting, even when you’re busy. The work you do today will determine your workload three months from now.
- Follow Up Relentlessly: Never let a quote go without follow-up. Move every lead to a “yes” or a “no.”
Reflections from the Field
Henry, one of our long-time clients, shared a simple yet effective tip: “When I saw a gap in our schedule, I went back and followed up on every quote from the last three months. Not only did we fill the gap, but we also built momentum for the months ahead.”
Jackson added, “Having a structured approach to quoting and reviewing my WIP has given me peace of mind. I know where my business is headed, and I’m no longer flying blind.”
Conclusion: Build the Habit
Being brilliant at the basics isn’t about perfection—it’s about progress. Commit to consistent habits, and you’ll create a predictable, profitable and prepared business for anything.
Take control today. Review your quote register, update your WIP, and make your key numbers work for you. Your future starts with the actions you take right now.
Ready to Master the Basics?
If you’re ready to take your business to the next level and eliminate the stress of unpredictable cash flow or workload, we’re here to help. Business Benchmark Group specialises in equipping business owners with the tools and strategies to succeed.
Book a free consultation today to learn how we can help you become brilliant at the basics and beyond. Let’s make your business the success story it deserves to be.
