3 Areas of your business that you NEED to track

Have you ever watched Shark Tank? We recently got sucked into a Shark Tank binger with the WHOLE family.

Everyone was loving all the inventions from doggy treats to innovative technologies.

The guests on the show stood in front of the incredibly successful sharks and without any notes, pitched their ideas and proceeded to answer a million questions from the sharks.

The sharks asked them about inventory, sales, the markets the product will be in, product return rate, manufacturing costs, profit margin, etc.

Why would this be so important? Why would they want to know this information?

Because Numbers tell a story.

It’s like the compass for where you should spend your time and energy. It’s the compass to evaluate the health of your business.

Who knows? Maybe you will be on Shark Tank one day.

But why is this important for you now?

Because you don’t want to operate out of emotion, you want to make informed decisions in your business.

Tracking these 3 things will make a huge difference and will become a great compass:

1 - Profit and Loss

2 - Where you are getting the most referrals from

3 - Percentage of Time Booked

Tracking these three things will help you see if you are profitable, where to spend your time marketing, and when to raise your prices.

I remember when I started tracking my numbers behind the chair and it was life-changing. It truly allowed me to do everything from making decisions to gain new dream clients to operating on a budget that set me up for huge success.

My prayer for you is that you take the time to not only work ‘IN’ your business, but ‘ON’ your business too!

If you want to do a quick PROFIT CHECK, sign up for a personal check-in here.

Thank you for being here, and let me know how I can support you in growing your business.

XO,

Mandy