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Simple shortcuts to business success #1: You attract what you track

by Kelly Exeter | May 1st, 2016 | 0 comments

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Do you like numbers?

I don’t. Never have.

And I’ve always prided myself on that; congratulated myself for not knowing off the top of my head how many Facebook fans, Twitter followers or email subscribers I have. Patted myself on the back for the fact that I tend to do everything very organically instead of ‘being pushy’.

Then I heard someone say this in a podcast: 

You attract what you track.

And that completely changed my thinking about numbers. 

Because when I thought about it, the few things I did keep track of (daily visitor numbers to the Flying Solo site and my own site for instance), those numbers tended to go exactly how I wanted them to. The things I didn’t track (like email subscribers to my personal list), those numbers were a bit all over the place.

And I got to thinking about some things I should perhaps be paying more attention to here at Swish:

  • Email subscribers
  • Sales figures

And on my personal site:

  • Email subscribers
  • Book sales

Are you seeing a pattern here?!

A business needs sales to be profitable. And Lord knows I’ve banged on enough about email lists being the most golden tool in any business’s marketing arsenal. So while it’s nice to be ‘organic’ in one’s approach to numbers, it’s clearly best to save that approach for relatively unimportant things like social media followers.

Important things like sales figures and email subscribers?

It’s actually quite irresponsible not to keep a very, very close eye on those things!

So I decided to do a little experiment. At the end of March I set myself two sales figures for April:

And here’s what’s happened so far:

  • I’m currently $100 off the April sales figure I set for myself for Swish (and we’re not even halfway through April yet).
  • I’ve already hit the sales figure I set for myself for Practical Perfection.

I’ve not hit those figures by being pushy or employing sales tactics that I’m not comfortable with. It just seems that, because I’ve set myself these targets, when it comes to deciding what I spend my time on during any given work day, I tend to spend my time doing sales-generating activities first before I do anything else. I look at my numbers daily and if they’re not where I want them to be, I automatically do something to get them moving. (For example: If I notice that the conversion rate on the lead magnet for my email list has dropped, I tweak the copy.)

It’s been such an interesting exercise to see how such a tiny tweak in thinking can impact so significantly on both my personal, and our business bottom line. 

And it brought something else I once heard in podcast to the front of my mind – James Schramko’s profit formula:

Prospects  x  conversions = Customers
Customers  x  $amount  x  frequency  x  %Margin = Profit

Applying the ‘you attract what you track’ thinking from above, imagine if the number in just one of the items in James’ formula went up. Imagine if you were able to:

  • Increase leads or
  • Increase your conversion rate or
  • Increase the amount you sell your product or service for or
  • Increase the frequency at which people buy from you (by offering complementary services to those you already offer) or
  • Increase your margin (by lowering your costs/expenses) 

Increasing just one of any of those numbers would immediately increase your profit. Pretty cool right?

So here’s my challenge to you today. Pick just one number in your business, and pay attention to it over the course of a month. And see what kind of impact it has on your bottom line. If you want some accountability, send me an email and tell me what you’re tracking. I will follow up with you in a month to see how you’ve gone 🙂

 

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