Profit Per X

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Profit per X is a kind of a strategic KPI.

It's maybe the most strategic KPI.

Profit per X is the amount of profit per some unit of measure that's really decisive and constrained in your business. So as a coach, what's my most constrained thing? Well, as an independent coach, it's the days that I can work. So mine would be profit per day. One of our companies used to deliver laundry, a kind of a laundry delivery service and they had a certain number of trucks and routes. Now they could hire more trucks and that kind of thing. But you know, that was a fairly difficult thing to do. So they started to optimize the profit per truck and another with a similar business looked at the profit per stop. So a truck could only make so many stops in a day. So they started optimizing the number of the profit that they made at each stop they made along the way. How could we sell more and to find more valuable stops, do more to optimize each of those stops. There are many variations on this, but you want to think about is it customer, is it per product, is it per season, is it per job? Like what is the core kind of limiting thing that if you could optimize, that would make a difference. Now here's the thing to do. Come up with a couple candidates and then debate pro and con. Is it per customer or per day? Is it per truck or is it per stop or is it per individual sale? Like what's the profit per X that you are working with? I've got one client right now that's looking at the profit per customer versus the profit per transaction that their competition looks at. So you know, it's a thing that you debate and you see what kinds of decisions would it lead me to optimize for? And then you settle on that and it helps you focus a lot of other strategic decisions that you might make about how you operate, how you grow, how you scale. So that's profit per x. It's the amount of profit gross margin in general for a particular metric, right? Some other limiter of your operation. Hope that's been helpful. We'll talk to you again soon. Figure out your profit per X Scaling.

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