Grow Your Business With Five Numbers
Hey this is Ed Lloyd, I wanted to share a quick video with you on five numbers you need to focus on, on a monthly basis if you want to grow your business.
The first number is leads, how many leads are you bringing into the business? This is a critical number to be tracking each and every month.
The second number we focus on is monthly revenue.
In our Rock Star program, our members average between one to twenty plus million dollars of revenue on an annual basis. We track these numbers with them on a monthly basis and we work with them to meet their goals and objectives each month.
So our first number is leads, our second number is revenue.
The third number we focus on is your profit margin. How much of your revenue is making it to the bottom line? We look at this percentage and measure and monitor it on a monthly basis.
This is the number that takes the revenue and ultimately turn it into cash. So we need to make sure we are monitoring profit margin and taking it in the right direction.
That gives us leads, revenue and profit margin as our first three numbers to manage each month.
Days In Genius
Our fourth number and this concept, I get from my friend Taki Moore which is termed Genius.
Days in Genius means the number of days in a month that you are spending on your business on the things that are unique that you love to do. What you have done to propel your business where it is today and what you will need to do more of to take your business to the next level.
We measure these in half days in Rock Star, and see how many days of genius can we get this month, and then focus on the next month to drive even more.
This gives us leads, revenue, profit margin and days in Genius.
The fifth number we work on is number of free days. We use the metrics from Dan Sullivan which is on a twenty-four hour period how much time/days can you have away from the business? No email, no interruptions. That gives you your free days.
How many days a month can you do that?
That is quite a challenge for most people and that is something we track each and every month in Rock Star.
Making it Work
To drive your business we need more than five numbers to just look at. We need to have projects to drive these numbers forward. So each month we work on a different project to help move these numbers in the right direction for everyone in Rock Star.
To track all of these we have a template, it tracks the numbers and the projects on a monthly basis and helps you be able to move forward with your business.
We have a template that we use in Rock Star to track everyone’s progress that I am happy to share with you. If you would like a copy please send me an email with the word “Five” and I’ll be glad to send it over to you.
If the Grow Your Business With Five Numbers video is something a business owner you know can use in their business, please share this with them as well.
Thanks so much and have an awesome day!
P.S. Whenever you’re ready, here are some ways I can help you scale your business:
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