Data Over Drama To Scale Your Business - Podcast Episode 51

This week in the podcast, we break down exactly why data is so vital in the growth and scaling of your business.

In our businesses, we often rely on our instincts – BUT if you want to scale your business and you want your business to get to a place where it doesn’t rely on your attendance – it is essential hat you actually use REAL data!

Now, this isn’t a once-a-year thang… there is SO much more to it than that!

The businesses that scale fastest, are the ones who know all of their data, inside and out. This will allow you to find patterns, opportunities and will allow you to save so much time, money and DRAMA! No more sleepless nights worrying about what is going to happen in your business – you have full control!

Implement Small Data Adjustments and all of the guesswork is out the door of your biz.

UNDERSTANDING THE DATA BASICS:

Your decisions will be sharp. If you are measuring everything, you are able to make some great decisions. Now, I am sure you know the big numbers in your business, such as revenue, profit, expenses, etc. However, there are some other really important numbers that you need to know that will really help you to dive deep into your business!

DATA TAKES TIME!

Without knowing/starting your data recollection, you are blindly leading your business. Data takes time to show its benefits, you need to be consistent in how you take your data so you are able to see what month-month comparison looks like, to year-to-year.

WHAT TO RECORD?

What is super helpful when recording client data is to get the below:

• Where is each and every client coming from?
• How much am I spending to require each client?
• How many leads I need to create my goal revenue?
• How much revenue each service provider in my business can generate?
• What each of their conversion rates is?
• What dollar spend per client is?
• Would you like fries with that? What are your fries in your business?

ANALYZE TIME:

What really matters? Are there common denominators in your data? If so, analyze, adapt and implement! Your sleepless nights will be no more as you know EXACTLY where you are and where you will be going.

YOU CAN CREATE DATA-DRIVEN GOALS:

You can meet your darn goals! You can reach them and know exactly where you are going! You are able to take the exact steps in calculated order to reach your goals! If you know your average dollar spend is $5,000 and you want to make $1,000,000.00 per year, you know you need 200 clients to reach your goal. Then when you know you need 200 clients, and you know how many leads you need to get a client, you know how many leads you need to meet your goal!

You will need to start the process, ASAP to start reaching your data-driven goals! In the Scalable Business Society, I teach all of my students EXACTLY how to get started, record their numbers and then reach their data driven goals! 

Once you get this under control, I promise you it will drive your business forward. If you don’t know some of the numbers I have guided you through today, like conversion rates, leads etc. you need to get to work! If you need guidance with it all, jump over to the Scalable Business Society! 

If you have any questions, email me at [email protected] and I will lead you in the right direction!

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