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Business Management



4 Important numbers to track in your business


If you’ve been an entrepreneur for a while now, it’s time you start to track numbers in your business.

Yes, I know numbers aren’t the coolest kid on the block, but when you learn which numbers to track and why they’re important, you’ll understand how to use them to make better business decisions.

To preface, I’m well aware that a lot of eyes start to glaze over when hearing the phrase “know your numbers”.

As entrepreneurs, a lot of numbers get thrown our way, and it can be completely overwhelming. Everyone has their own list of things to track and reasons why they matter. But have you ever stopped to ask yourself:

  • What are the numbers I actually need (and want) to know
  • Why do I want or need to track those numbers
  • What does knowing them actually help me do
  • How often do I need to update them
  • How am I going to use those numbers

Because there is a lot that goes into figuring out what numbers you should be watching and why.

I have a very specific set of numbers and data that I track for myself and my Business Management clients, but that’s because they’ve been in business for years, have a team, and know what their focus is. Overall it’s because they’re at a place in their business where they are actively working to become more profitable and have a sustainable business and marketing model. They want to know where the money is coming from and going to, how much ROI is in every project, where they should focus their marketing efforts, and the list goes on.

While there is no “magic number” or numbers that you need to know to run your business, there are ones you can watch that will help you become more strategic with your time and money. No matter what stage of business you’re at.

It’s hard to know what to track when you haven’t been tracking anything, but also it’s hard to know why you should even track it at all. If you’re just tracking numbers to say you do, and you have no plan or understanding of why you need to track them then most likely you’ll just stop tracking altogether. And I definitely don’t recommend that.

So let’s make it simple.

There are 4 critical numbers that you need to track in your business.

Whether you’re a solopreneur, have a small but mighty team, or a micro agency. These are the numbers that you need to know:

  1. Lead stats
  2. Time stats
  3. Profitability
  4. Service percentage

Because knowing your numbers will help you make informed decisions so you can improve your profitability and scale in a sustainable way.

I’m diving into the full breakdown of each number and knowing how they work together will help you over on this podcast episode with She’s Busy AF.

iPhone with Spotify showing She's Busy AF podcast episode with Liz Strong

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