Double Your Profit Day #14 Why Waiting For Monthly Reports Is Hurting Your Business
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Aug 14, 2025
Discover how waiting for monthly financial reports can seriously hurt your business. Learn why making your profit and loss statements a daily habit is crucial for real-time decision-making. Explore the key metrics to track daily, like revenue and gross profit, and understand how knowing your break-even day can enhance your strategies. Uncover the hidden costs of delayed reporting and find out how to work with your accountant for timely insights. This is a game-changer for boosting profits!
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Make Your P&L A Daily Tool
Do track key P&L numbers every day including revenue, labor, materials, and gross profit.
Use daily visibility to drive profit decisions instead of waiting for month-end reports.
insights INSIGHT
Break-Even Day Changes Choices
Knowing break-even day and cash deposited changes decision-making and pacing to budget.
Welcome to Day 14 of the Double Your Profit Series — the go-to profit series for contractors, home service owners, and small business entrepreneurs. Today, we’re diving into one of the simplest, most powerful habits you can build: Making Your P&L a Daily Tool.
🧠 If you’re waiting until the end of the month (or worse, months later) to see your numbers, you’re already too late. Real profit decisions happen in real time — not after the fact.
💡 What You’ll Learn in This Episode:
Why monthly financials leave you 40–50 days behind the problem The exact daily numbers you should be tracking (revenue, labor, materials, gross profit, and more) How knowing your break-even day changes your decision-making Why a fast feedback loop is the key to being profit-first How to work with your accountant/bookkeeper to get data weekly, daily, or even hourly The hidden cost of delayed reporting — and how to fix it now
💸 This Episode is Brought to You by CFO Made Easy
Built a strong trades business? Let’s take it to $10M and beyond. CFO Made Easy offers part-time CFO services for home and trade service businesses—helping you boost cash flow, maximize profit per tech, and make confident financial decisions.
⚙️ Profit is a scoreboard — and the team can’t play to win if they don’t know the score. When you see the numbers daily, you make better calls, faster, and with confidence.
🔥 Think of this episode as your “profit wake-up call” to stop running blind and start making data-driven moves every single day.
John Wilson, CEO of Wilson Companies Jack Carr, CEO of Rapid HVAC 📌 Disclaimer: Some links may include UTM parameters or affiliate relationships, meaning we may earn a commission if you make a purchase. Episodes may feature sponsors, but all opinions expressed are our own.
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