Why You Should Measure Your Results Every Day

You’ve launched your business and you’ve already made your first sales. Now is not the time to get complacent!

If you think the hard work is done and it’s time to take a break, think again.

In business, if you’re remaining stagnant and not constantly growing, your business is actually declining. What can you do about it?

The first step towards growth is to start constantly measuring.

One of the most respected management theorists of all time, Peter Drucker, is often quoted as saying “if you can’t measure it, you can’t improve it.”

It makes sense. For example, you might be looking to improve the results of your online marketing. How can you expect to do this, unless you know exactly how much you have spent and how many responses your ad received?

Once you know these numbers, you now know what to improve, and a step closer to figuring out how to improve.

SCALE YOUR BUSINESS BY COMPETING WITH YOURSELF

One of my favorite toys is a large TV screen in my office that displays all the important metrics in my business:

Revenue so far this month.

Projected revenue for this month.

Change relative to our previous best record month.

I knows that checking these numbers every day will alert me when improvements need to be made.

For example, suppose it’s the 10th of the month and the company has so far done $1,000,000 in revenue for the month. This equates to a projected revenue of $3,000,000 for the month. Assuming the company’s previous best record month was $6,000,000, then this projection would be a drop of 50% based on the company’s previous best record month.

When I sees this, I knows that action needs to be taken, and my mind will turn to a new marketing campaign to get this month’s revenue back on track.

Since starting MOBE in 2011, my simple strategy for growth has been to compete with myself. Every month, I try to beat my previous best record month.

YOU CAN START DOING THIS TODAY

You may not have a multi million dollar business, an office or a large screen TV. Still, you can employ the same principles in your own business. All you need is a pen and paper or a spreadsheet. Measure your important numbers and try to beat your previous records.

Ready to scale your business through successive revenue ceilings? More strategies like this one are shared with members in the MOBE Titanium Mastermind. To learn more about the Titanium Mastermind, click HERE.

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