How,Track,Your,Business,Growth marketing How to Track Your Business Growth
Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie
A question that I get all the time is, Whatnumbers should I track in my business? Myanswer? Track all the numbers you want to growand expenses, which of courseyou dont want to grow. Im always shocked that when I ask someone how muchtheyve made so far in their business this year or this month, a lot of timesthey dont have an answer to that question. For many years, before I had afull-time financial person for my business, I always knew, to the day, how muchI had made that month as opposed to what my goal was. Heres where I want you to start. Number one, start tracking the number of clients that you have.Some people just dont know this number. You need to know how many clients arein each program versus what is your goal of number of clients in each program. I also want you to track your income because whatyou track, grows. Youll track on a marketinglevel so you can measure where you are compared to your goal in any given monthand youll also track from a metaphysical, manifesty-y kind of way so thatyou know what how much money you want to attract into your business. Obviously, track your actual income versus yourgoal income, not just per year, but each month and for half of the year. One of the things that I do midway through the year is I say, Ismy first six months of the year on track or will I reach my goal by the end ofthe year? If you ask yourself this question, Am I on track?and its November and youve got a month left in the year, its hard to reallyramp up and make the extra money. But ifyoure tracking every single month and at the mid-year you can say, Okay, howam I doing? You have another six months to really get creative and strategize,so I recommend that you do that. You can track sales conversions. If youre speaking in front of a room of people, are you closing20% of the room? Are you closing 20% of the people who are eligible to buy? Areyou at 50%? 70%? Get really good at figuring out the percentagesbecause when it comes to having that solid number, you can project it ontoother opportunities. If I can close lets say50% of the room, then thats a good opportunity for me. Track the number of people who are coming to anevent after determining your goal. If yourenot there yet, then you know that you could be doing a little bit moremarketing to get the word out. Track your expenses. One of the things that is not so much fun to do is track expenses,but sometimes when you track expenses you can say, Hey, this is too much. Idont want to be spending this much because it eats into the profit of thebusiness. Sometimes this is a good surprise. You can say, You know what,expenses are not that high. I can afford to pay just a little bit more for mymarketing or client acquisition. Perhaps you can send another mailer. Perhapsyou can invest in your business a little bit more and then it will multiplyyour business. The idea is that you want to track everything thatyou want to grow. And yes, you want to trackyour expenses too even though you dont necessarily want to grow those. Whenyou have the numbers, you can sit down and it tells a story about yourbusiness. It helps you project your income. It helps you make your decisions inyour business. Your Client Attraction AssignmentStart tracking the basics, whatever you can handle. Dontoverwhelm yourself, but do what I do. We have a white board in the office thatgets updated every single day so try tracking your numbers like that. Or youcould have an Excel spreadsheet like I had many, many years ago when it wasjust me. The idea is do not be in the dark. Know your numbers because you canmake decisions from them.
How,Track,Your,Business,Growth