36. Know Your Numbers: Where to Start When You're Tracking Nothing | Business Strategy
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You can know your business is busy and still not be able to name a single number that explains why. That is where a lot of local service business owners live, running the whole thing off the bank balance and finding things out after they have already happened.
Last year I sat in a breakout session at a convention in an industry adjacent to mine, and the speaker started firing questions at the room. What is your revenue? How many leads did you get this month? Where did they come from? What is your lead to job conversion rate? What is your average ticket? I have a Lean Six Sigma Black Belt and I ran quality for a hospital laboratory for ten years, and I could not answer most of them for any of our three businesses. In this episode I walk through the Tracking pillar of the Business Mountain Framework™ and name the one or two numbers to start with in each of its five categories:
- financial,
- marketing,
- efficiency of operations,
- customer satisfaction, and
- team and HR.
You will hear why average ticket is the cheapest lever you have, how a low booking rate points at your phone instead of your marketing, and how a recall tracker Logan built at Cavalry Appliance turned into a sealed system training plan for our technician. If you are at Base Camp or Camp 1, this list is not a starter set. It is the whole job. Pick one category, find one number, and put a recurring appointment on your calendar to do it again next month.
Thanks for listening to The Business Mountain Podcast.
If you enjoyed this episode and want to keep learning how to work ON your business with systems, strategy, and practical tools, here are a few ways to stay connected:
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