So I've bought Friday wine time back on board! We're moving the business over to Instagram as well as Facebook, to see what happens. We've got a few big things up our sleeve in the coming month so watch out for new announcements.
For our first wine time in a while I want to share what we have been doing on our team. We have been tracking our results on our daily score card. In our business we have a daily scorecard and everyone in our team has a number that they need to complete. This is so we can figure out where our holes are. Where things should be improving what's working and what's not. So after we did our team meeting last night we realised that our main goal is to have conversations with people.
You know that I love to have conversations with people. Get to know them and find out how I can help them, if I can help them. We have a current marketing campaign running and it is not bringing us many conversations. So, if it wasn't for us tracking our numbers and comparing them against previous results that we've had, we would be guessing.
To help us with this we use a book called Traction. One of my favourite books. But in there you'll learn a lot more about score cards.
On your score card, everybody has a number, but your numbers, they need to be meaningful. They need to be measurable, and they need to be manageable. You don't want to be tracking, more than 15 numbers for each of the people in your business. It will help you see gaps and actually start to be able to predict what's going on inside of your business.
The good thing about having these daily numbers is you have the information at your fingertips. If you wait for your Profit and Loss and your balance sheets, it's way too late for you to start making adjustments. That's looking at things that have already happened. It's much harder to make adjustments on a quarterly or yearly basis.
Tell me, what numbers do you track on a regular basis? One of those things that you're always tracking so when you're tracking your numbers, you're no longer making assumptions. After you've been tracking your numbers for about 13 weeks, they start to give you predictions for looking into the future. This will help you make much, much better decisions.
Also, when you're tracking numbers, you're no longer subjective to opinions. Also, it takes the emotion out of it. You know I love lists of sexy sexy numbers baby. Her love sexy numbers. So do bring me your sexy numbers and I will help help you unravel the mess if you can't figure it out yourself.
We stopped to actually focus on results, we start looking at numbers in a meaningful way, a measurable way and a manageable way. Numbers have lots of names. Some may call them flash reports or metrics or KPIs and smart numbers. But at the end of the day you want to use the kiss strategy. Kiss stands for Keep It Simple Stupid.
To begin tracking numbers, pick at least five to track. I'll give you some examples of the ones that they say inside of Traction.
One is your weekly revenue. How much money hit your bank account this week. Don't forget the power of the numbers also the 13 week mark is where you can start to then see patterns and predictions.
Another number to track is your cash balances I mean how much money's in your account in petty cash. How many sales calls have you had, how many sales meetings have you had, how many proposals have you offered. How many deals have you closed. How many people have you paid this week how many people are on your payroll. How many reported problems have been in your business. you've had bounced payments how many of those have happened this week. If you're tracking customer results and their writings how many of those have you tracked?
What about accounts receivable how many things have you paid in the last week, as well as accounts, waiting to be paid? You will start to see holes. Another thing that we also track is our conversions as well so I like to know how many leads have come in this week.
Your numbers should be on a weekly basis, not those high end numbers like your profit and loss. They're the sort of numbers that you can't fix. But at least when you're tracking on a weekly basis, you can adjust them, and a score card is a predictor of your profit and loss statement. By the time your P&L comes, it's way too late.
So here are a few fabulous reasons why tracking numbers are crucial in business.
Numbers create accountability. It starts to show you that accountability is something, especially in business. You want your staff and yourself to be accountable.
Accountable people love, accountability, they love numbers. So, if you are somebody who wants to be accountable for your business and your success. You're going to love tracking your numbers and not just putting your head in the sand.
Your numbers will help you cut through the murky subjective communications in your team.
The numbers will create so much more clarity in your business.
Numbers will also create competition. Inside of our team, we actually count, for example, how often we post into Facebook groups, right, and everyone has a minimum, a day to post. Some people push the barriers want to be the head runner of who's posted in the most amount of groups. But be careful about going to Facebook Jail.
Every day I record my numbers. I make a deal with myself to record them before 11 o'clock. I record them for the day before. As sometimes an account won't get paid or things might bounce through the evening after I finish work.
So think about, it from a smart business point of view, whats 10 minutes to have a pulse on your business. And if you're doing it every day. It gets simpler and simpler.
Now, my challenge to you is to choose at least five numbers today. Okay five numbers. It doesn't matter if they're right. They're right for now.
As you start giving yourself, that consistency of doing it every single day. It starts to become natural. You want to track how many leads. How many 24 hour contacts, how many 1:1 bookings and how many converted clients, something as simple as that.
You could look at how many people are interacting. What I want you to choose is look at lots of things you could track in your business. You could track how many posts we do on Facebook or how many likes we get on Instagram or follows.
They're not really income producing numbers. They're not that high end numbers that you want to track that are going to be fabulous predictors.
So think about, you know, the 20/80 rule.
What is 20% of numbers that you can be tracking that are going to bring you 80% of your results. You will start as we started building out our score cards. What we found was, some of them became redundant, some of them we were able to merge them together. Some of them were fabulous numbers. They're so sexy and you can start to truly, truly predict your business.
Try for at least five but no more than 15. We want you to keep it super simple...those numbers that you're going to start tracking on a daily basis.
It's only five to 10 minutes out of your day to quickly jump into say lead pages or Click Funnels write down your leads. Jump onto Facebook ads write down your cost per lead today, jump into your bank account. Write down your balances of money in money out.
As we're starting over on Instagram, we're tracking followers and engagement and interaction. We're ready to start growing and developing knowledge and our skill set over here on Instagram. So we want to track numbers to see where we can improve.
So what numbers do you track?
Do you track any?
Would you like some help to discover what you can track?
"Never Let Anyone Dull Your Sparkle"
Join our mailing list to receive the latest news and updates from our team.
Don't worry, your information will not be shared.
Keep up to date with the Sparkle World - sign up for our newsletter.