I’m a little embarrassed to say this but it was my husband who has taught me about the importance of knowing your numbers. I bet he is laughing now but metrics are the foundation of smart business decisions.
Unfortunately many entrepreneurs rely on emotional business management (EBM). This means making decisions based on feelings like “I wish I had more clients” or “It doesn’t feel right.”
In contrast, data-driven business management (DBM) uses specific numbers to guide actions and improve results. Metrics provide clarity on what’s working, help identify specific issues, and allow for simplification and optimization. Without metrics, business owners often guess, leading to inefficiencies and lower profits.
Here are some key metrics every business should track regularly:
- Sales goals and conversion rates.
- Profit margins per program, product or service
- Cash flow projections
- Revenue forecasts
- Team performance metrics.
A one-page dashboard can help you monitor these numbers weekly or as needed ensuring you’re always in control.
Shifting to data-driven decisions will streamline your operations and allow you to grow more efficiently and profitably. It’s one of the things we focus on in all of my programs whether it’s 1-1 or group.
If you want to work less, profit more, you need a one-page dashboard for your business.
Let’s chat and figure out which metrics you should be tracking in order to work less, profit more. Not all metrics are important to every business.
You can do this,
Diana
P.S. Reach out and book a no-pressure Business Breakthrough call here and let’s see how you can work less, profit more!
