Monthly Archives: March 2016

Measure the pulse of your business

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Measure the pulse of your business

Key measures in your business are often a sign that something is going right or an early warning that something needs to change.

It is easy to ignore this very important task, because it seems quite a bit of effort for sometimes on the surface, no result.

However, from experience I know the results that having kept statistics on my business methodically for the last 10 years have given m. I know that it has comforted me, stirred me up, helped me celebrate, caused me to take massive action and many more responses.

The reasons are obvious, but without the accurate statistics – what would I have done differently?

If a scuba diver ignores the air level feedback, it could be fatal. Your company statistical measures are your airline.

Only you know the true measures for your own business. They could include, business for that day, type of business, from which customers, who is your best salesperson, what product is the most popular, or even the most profitable.

Others can include, what business do you need to complete on a daily business to achieve your goals for the year. This is one of my favoured ones, because I know instantly every day, if I am on target. I know if I need to get more active, congratulate or even be concerned.

Averages help tremendously. I know that through lean periods, the return to averages will start to happen soon It stops me panicking. The longer you have statistics in place for, the easier it is to steer and direct your business.

Our latest business has grown by over 25% in turnover each year for the last 3 years and we are already growing again this year. That in itself is a good set of statistics.  To get a grip on reality though we need to compare this to costs of creating business and examine where it is coming from. Although we have had 3 years’ consecutive growth in turnover, our overheads have grown each year too. Luckily they have not grown by the same level, so I know we are more profitable. By how much is the measure. It made me smile once I knew the exact figures.

Another shift though was that one customer in particular had started doing more of the most profitable business so I had to temper my excitement. As you know, one customer can easily change direction. On analysis I discovered that he had just had a great new idea, so when I asked him about it, I was able to duplicate it with other key clients, who are also now becoming as profitable.

So in summary, let me ask you. Could I have noticed all this without analysis? Some maybe. But the detail of analysis helped me in ways I did not expect.

How therefore do you measure the pulse of your business? Is it possible that you are overlooking key facts that could help you in many ways? Do you know the health of your business or are you just assuming?

Make sure you know. The facts are there; it is just how deep the diagnosis is that makes a difference.

What is the difference between your dreams and fears?

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What is the difference between your dreams and fears?

FEAR;

Of being ashamed, feeling stupid, being rejected, being left out, getting hurt, being embarrassed, left alone, dying.

DREAMS;

Of being seen, being needed, becoming independent, relieving anxiety, becoming powerful, making someone proud, fitting in, seen as special, mattering, taken care of, loved.

Marketers put many layers atop these basic needs (horsepower, processor speed, features, pricing, testimonials, guarantees, and more) but it all comes down to dreams and fears.

Sometimes our dreams are our fears. You dream of being a confident speaker, but fear doing it so much you become paralyzed. However, any step towards conquering your fear, or step towards achieving your goal will minimize the fear and take you towards your dream.

They are linked and overall the one is a measure of the other. Moving towards your goals or away from your fears is a common way of looking at the dominant motivational factors of anyone.

So where do you start?

Initially, making a list of dreams, unbridled and without concern for qualifying if they can be done, is a great way to get your first list together. This breaks down the barriers of limitation and forces the facing of fears, small or large.

If your dream is to be financially independent for instance then giving that goal a number, is important. So if £5000 a month, latent income, rising by inflation is what you need, you have your starting point. You need a timeline as, if it takes too long, the figures would be out of date.

Let’s suppose your goal is needed by a certain age, then you have a good time line to work by.

If that number is what is needed by that time line, then you have already set a goal, and faced a fear by quantifying it.

The mechanics often become a fear as you may not know how yet. The beauty of achievement is the excitement of being in a position to discover the how. Without a goal, you are less likely to do so.

Just by being open to the idea, you will discover answers from all sorts of sources. Your internal radar will be looking for them.

Do you remember when you bought a car that you looked forward to getting? After that you noticed all the other cars on the road that were the same as yours. Yet, before, you hadn’t seen them. This is how you conquer fear and build dreams. Your brain is wired to support your wishes. It goes into search mode the minute you tell it what to look for.

Goal setting switches on the search mode and gets your computer (the best one in the universe) to start finding ways to satisfy your wishes.

This is also why Fear is so destructive. You are switching on the search mode for your biggest dread and anything that supports it. Your brain does not distinguish the difference between fears and dreams. It just does what you focus on.

SO FOCUS ON YOUR DREAMS BECAUSE THAT’S WHAT YOU WILL GET.

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