5 Things You Can Measure Every Week to Boost Profitability

I see so many business owners float through the days, months, and years without truly knowing how their business is doing. They steer the ship by guessing and hoping. Now I am an advocate of trusting your intuition, listening to your gut, and not always letting your head rule your choices. But let’s not confuse intuitive intelligence with sticking your head in the sand and hoping.

Measuring matters. Period. It doesn’t have to be scary, intimidating, or take up a lot of time. Most working mothers managed to put little pencil marks on the wall to measure their kid’s growth, right? It doesn’t have to be harder than that in your business.

You don’t have to be a numbers geek to succeed in business or use a spreadsheet. Scared of spreadsheets? Get creative… use marbles in glass jars if you have to, but have a tangible way to gauge the results of the actions you take.

5 Things to Measure Every Week for More Profits

Here are 5 things to measure every week. Start tracking these consistently and you will have business intelligence worth yearning for that will lead you to higher and more consistent profits.

Money

I personally track money on a daily basis.

  • What money has been committed (aka new contracts being signed)
  • What money has been received (actually deposited, no “the check’s in the mail” nonsense).

Equally important is what money is being spent. I track this weekly.

Time

Where are you spending your time each day?

Are you?

  • Delivering services to clients?
  • Marketing?
  • Engaged in sales conversation?
  • Traveling?
  • Doing administrative tasks?

Know what you are doing and how long it is taking you. Time is one of the 3 elements of profit. I might add that to me time is the most precious of all the factors because how we spend our time is how we spend our life. [Read more…]

Work Hard, then Play [Business Flow Video]

When you work hard or experience intense learning as a small business owner … you need time to decompress, get into your body, and integrate.

 

It took me a while to learn this important lesson, but now I do it consistently.

Here’s a little video from my recent trip showing you how to do that.

When you work hard as a #smallbiz owner, you need time to decompress, get into your body & integrate.Click To Tweet

13 Things To Do When You Resilience is Low (And 1 Thing You Should NEVER Do)

You know those days when it feels like nothing is going right, you feel down, depleted, and your resilience is flat out low to nonexistent? Yeah, they happen to me too. They are inevitable.

Yet as a small business owner, what are you to do? After all, if you’re self-employed and not able to focus on your work, not much happens. Even as you attempt to focus or get stuff done in spite of it all, you are met with a foggy brain, lack of focus, low energy, and even less results. This can leave you feeling even further behind and fuel those raw, vulnerable feelings.

Whether your resilience is low because you have a cold, didn’t sleep well, are navigating personal issues, or any number of life’s challenges you can still make wise choices around what to do and where to invest your energy.

What to do when your resilience is low

Here are 13 tried and true things you can do. [Read more…]

What if You Knew Then What You Know Now?

Have you ever said, gosh if I only knew then what I know now…? Who hasn’t right?

We know we can never turn back time (no matter how much Cher sings about it) and the full picture hindsight gives you is never quite possible while you are living the moment.

But, what if you could take just a bit of that wisdom and knowledge and use it now, not after the fact? How might that change things for you?

Business intelligenceA recent sad event made this clear for me. You see just a few weeks ago my beloved garden was producing cucumbers in abundance. I was happy to my core. Since we make green juice every day in our house, we blow through cucumbers in bulk. It was heaven. And then, all of a sudden, I noticed something very subtle about the leaves and buds. When I went to the local nursery to inquire, their vegetable specialist told me the plants had a fungus due to the extra rain we’ve had. She assured me it was nothing we did “wrong”.   She suggested an organic fungicide to try and preserve the new growth (old growth would die regardless).

So far, this remedy isn’t helping and I am just beside myself about the cukes. I think- if I only knew a few days or even a week beforehand, maybe I could’ve done something to prevent this? But I didn’t know what to look for, or how to assess what I saw.

You might not be a gardener or care about cucumbers as much as I do, but certainly you’ve experienced a similar moment in your business, right? Where you’re humming along, taking the days as they come, and then bam! You’re hit by surprise with something – an overwhelming tax bill, a quick exodus of clients, a sudden upsurge of growth that strains your team and systems (or makes you wish you had them). You wish you could’ve seen it coming.

Well, what if you could see it coming? Maybe not 100% of the time, but what if the vast majority of “surprises” could be predicted before they happen?

If you routinely look at data – of the holistic health of your business and what’s happening around you, you can. This isn’t magic. It doesn’t have to be hard either. Big companies use big data and predictive analytics to figure out what is going to happen in the future – on a macro level and with individual customers. This is how online stores like amazon know what you are likely to buy next. How big companies decide when to expand and when to wait.

Unless you’re a mega-corporation, you don’t have to get that complicated to reap the benefits of knowing NOW instead of in hindsight. As a small business you are more nimble and can make huge strides with less effort.

Here’s how you do it.

You do this is by simply taking time to look at the key indicators of the health of your business and then focusing on the one most important thing you need to do right now. Not 10,000 things. Not the 40 things you learned at the last conference you attended. ONE THING.

You do this at regular, consistent intervals and then repeat.

Success is determined by focusing on the right things at the right time. Wouldn’t you rather move forward with the power of knowledge coupled with intuition rather than looking back with a sigh of regret? I thought so!

Need help quickly assessing the 6 indicators of health for your business? Grab your business health checkup here.

You have my personal guarantee that you’ll get great value from this.

 

 

Are You Doing What Matters Most? [Video]

I had the pleasure to present 3 minutes of a teaching very near and dear to my heart while in San Francisco.  This short and powerful clip will get you thinking differently about what matters most and how you make choices each and every day.

Would love to hear your thoughts and reactions in the comments…

How to Prioritize When Everything is a Priority

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