If you don’t track your money in your business, then it’s like driving across country without a dashboard.
I will actually be driving across the country next month so I thought I would chime in on my “Money Date” Theory
Anything that you are going to grow, you must track it. You must measure it.
The one big thing about being more successful and gaining more in your life, whatever it is, whatever you’re measuring, if it’s more income, more clients, it doesn’t matter.
Imagine playing a game. You get towards the end and there’s no score board—how do you know what play next?
You don’t. You’ll just be guessing. Without tracking progress, there is no motive. Tracking things allows you to motivate yourself throughout.
… Am I getting close to what I want?
… Am I doing enough?
… Is what I am doing working?
… If what I am doing is working, should I do more of it?
If you don’t track your numbers, then it’s like driving a car without a dashboard.
There is a good chance of getting a ticket because you don’t know how fast you’re going. You also don’t know how much gas you have so the fuel in your vehicle could run out in the middle of the desert.
You might sit there and say, “I’m doing okay Jo Anna. I don’t track things and I’m doing fine.”
That’s fine. But how much are you leaving on the table? How many more opportunities would you have if you tracked? Are you doing the thing where you’re filling up your car with fuel every day just to make sure that you don’t run out because you don’t know?
You wouldn’t drive without a dashboard. You wouldn’t play games without a score board.
Why would you not track your numbers in your business or in your life?
In business, you can track how many calls you make a day to all the way to how many new clients you have.
For example, I know that if I make five calls, typically, I will secure a speaking gig. That’s usually at the worst. Sometimes I call and it’s like two, three. But I can sit in my mind and say, if I just make five phone calls, I’m going to get another speaking gig.
That’s one of the things that I track heavily. I have clients they know that if they make ten phone calls, they’re going to get a client. They know that if they track their money they will make better decisions when faced with a financial question.
So, as you start tracking this, this allows you to put the right frame of mind on and you can say I need just $2000.00. That equals a client, then make the calls.
I hope that analogy is helpful and simple to understand how important it is to track/measure.
We’ve all heard the saying, “What gets measured gets done.” It means regular measurement and reporting keeps you focused — because you use that information to make decisions to improve your results. Your most critical measurements are called “Key Performance Indicators”
The same goes for your money, print out a P&L statement and start looking! If you don’t have a business and you are not using a financial datatbase, use excel. Its simple money systems that will help you grow. If you would like a copy of this, I can send it to you.
That way you don’t wake up one day and say, “Oh wow I don’t have as much money as I had three months ago.” If you don’t measure this month, it’s usually two or three months away when it hits you that you don’t have it. Be consistent. I call it a money date.
Get a glass of wine (whiskey) or favorite drink. Sit down with your money and love on it! Record and measure it from last week, pay your bills with gratitude.
A lot of clients that I meet think I’m crazy for doing this (at first). But when they start working with me and see they have this up and down and now its growing. They feel more in control, happy and a little sexy I might add.
Your Action Plan
Open an excel spreadsheet or a Google docs spreadsheet and just track whatever you want to do (use my example)
How many calls you’re making?
How regular are you making them?
What is that earning you?
How long does it take for a potential client to become a client?
Whatever you’re tracking, whatever you want to improve, make sure that you start tracking it. START THE PROCESS! Just Start the process.
If you have any questions or comments, I would love to hear from you.
Contact Jo Anna through her site at BottomLineWealth.net!