As a CFO who's helped transform hundreds of businesses, I can tell you that tracking the Vital 5 doesn't need to be complicated. Here's the practical system I teach business owners:

Daily Monitoring System:

1. Sales

- Today's sales

- Month-to-date vs. target

- Rolling 30-day trend

2. Gross Profit

- Yesterday's margin by product/service

- Week-to-date margin

- Red flags on any items below target

3. Gross Profit Percentage

- Current month vs. target

- Trending up or down

- Any projects/products below minimum threshold

4. Net Profit

- Month-to-date

- Projected month-end

- Major variances from budget

5. Cash Balance

- Current balance

- Upcoming major payments

- Receivables due this week

Real-World Implementation:

A manufacturing client implemented this system with dramatic results:

- 15-minute morning review

- Weekly team accountability meeting

- Monthly deep dive analysis

Result: Identified $180,000 in profit leaks in the first 60 days

Key Success Factors:

- Use dashboard software for real-time data

- Set clear accountability for each metric

- Create trigger points for immediate action

- Review with key team members daily

- Adjust pricing and operations based on trends

Remember: It's not about tracking everything - it's about tracking the right things consistently. The most expensive numbers are the ones you're not watching.