1. To keep track of your performance
Without knowing your numbers how do you know how your business is performing? Are you growing? Are certain areas doing better than others? By having a daily/weekly/monthly check of these figures you can easily see how your business is doing
2. Know how close you are from reaching your goals
By tracking your key numbers you will know how many more sales or customers you need to hit your goals in your business. Knowing this alone can give you the extra motivation you need to give yourself that extar push when you need it
3. Highlight and fix issues before they become a problem
When you track your key numbers you will quickly be able to notice any potential problems that may be arrising. Are sales down in a particular area? Are costs increasing? As soon as you notice these fluctuations you can investigate why and work towards finding a sloution to get things back on track. Without tracking your numbers these things may go unnoticed until it was too late.
4. What you focus on expands
Another way to say this is “Energy flows where attention goes” Your thoughts are powerful, powerful things. Your focus puts your subconscious mind to work, and it stays busy finding more and more of what you’re focused on. So if your key numbers include sales, money that is owed to you etc. by keeping a daily check of this your subconsious mind will be seeking out more opportunities for sales and to get you the money that is owed.
What type of things should be tracked?
The main key numbers to be tracked on a minimum weekly basis could include:
- Net Income
- Marketing Expenses
- Money Owed
- Money Owing
- Cash flow
- Quotes outstanding
Each business is indiviual so different numbers may be important for you to track in your business. You may need to track sales and expenses seperately for seperate parts of your business so you can monitor performance or the number of customers you have may be a key number. As a BizMums member you can learn more about key numbers and downoad a Key numbers tracker and printable in the BizClub. If you’re not a BizMums member find out more about joining HERE.