As a small business owner, you wear a lot of hats. You’re responsible for sales, marketing, customer service, product development, and much more. But if you want your business to grow, it’s important to take a step back and focus on the numbers.
You can’t afford to wing it. You need to know your numbers so you can make informed decisions about where to focus your time and energy.
Your Stats can show you how to grow your business.
The good news is, tracking your key metrics doesn’t have to be complicated or time-consuming. In fact, if you make it a habit to review your numbers on a monthly or weekly basis, you’ll be well on your way to achieving your growth goals.
This article will show you how to track your key metrics and how to use it for your business growth every month.
C stands for Collect
Choose which data you want to track on a weekly or monthly basis and collect them.
Examples:
- Revenue
- Clients 1-2-1
- Membership
- Email list
- Products/Services
- Facebook page
- YouTube
- TikTok
- Products sold
- Blog posts written
Add your own key metrics (if you are a speaker how many speaking gigs you had; if you are a podcaster – how many episodes you’ve recorded etc).
Collect stats from social media platforms where you have accounts (even if you don’t actively using them)
Videos on how to read stats on your social media are below.
Tip: you can ask your VA to collect data for you.
During this stage you don’t try to analyse the data – you need to create a data gathering ritual – once a week or once a month. If you have an opportunity to delegate this activity it’s even better but it has to be a regular activity.
E stands for Evaluate
Look at the data and evaluate the gap between the planned numbers and achieved results. At this point just note the difference.
L stands for Love
If you discover that actual numbers are way below your planned ones, it is important not to judge yourself.
Numbers are impartial, so feeling bad is unnecessary. Simply move to the next step and indicate what changes need to be in place for the next month.
Equally important to remember, if you have achieved your target or even exceeded it, you need to acknowledge your success and plan how you can maximise it.
L stands for Learn
At this stage you jot down your learning points. What are you going to do differently next time to get results?
Write down all the steps needed to achieve your goals next month.
Don’t try to figure out how you are going to achieve them – just make a list.
O stands for Organise
Prioritise your list according to your goals for the next month.
Which activities will you outsource or do yourself? Don’t stop until everything is in the calendar.
Where to find numbers on your social media platforms
Choose from the videos below only those platforms where you have accounts, follow the instructions in the videos, if you have any questions, you can post them in my free Facebook group Business Growth for Intuitive entrepreneurs using #numbersparty
Below you have tutorrials on how to collect data for your social media platforms – save this page and come back every time you need a tutorial or sign up for the free Numbers Party Guide and have access to the High Impact Happiness Student portal.
How to read Instagram Stats (a 3-min video)
How to read Instagram Stats at a post level (a 8-min video)
How to read YouTube stats (a 6-min video)
How to read Pinterest stats (a 4-min video)
So what are you waiting for? Start tracking your stats today and see how they can help you grow your business. Still have questions? No problem! I am here to help you every step of the way. Just reach out and I’ll be happy to answer any of your questions about tracking your small business’s key metrics.
Please post your question here in the comments or head to my free Facebook group Business Growth for Intuitive Entrpreneurs and post your question there.
