What gets measured gets multiplied
There’s a famous phrase, “What gets measured gets done.”
I prefer: “What gets measured gets multiplied” – because that’s much more descriptive, actually.
I track loads of statistics in my business. Sales, obviously, but also marketing stats, ad click-throughs, cost per ad, average open rates of my emails, social media followers, all the rest of it.
And it’s the same with our money: how can we know if something is actually improving if we’re not tracking it? We don’t know where we started from, we don’t know where we’re going to, and we don’t know where we are along the way.
Usually, we don’t actually track our money stats or our business stats because we’re scared. We don’t want to see that number staying still, or even worse, decreasing. We don’t want to know how little we have in our bank account. We don’t want to know how many people didn’t read our emails. But let’s face it, that’s just putting your head in the sand. There are so many reasons to track your money and track your business’ growth, and here are a few for you.
Reach Your Goals
It allows you to set goals and actually measure the progress. So let’s say, for example, that you have 1000 Instagram followers, and you want 2000 total by the end of the month. That’s 1000 more in that month. That’s about 33 per day. If you tracked your stats every single day, you’d be able to see that you were getting 33 this day, and then that day, and the next day, and then maybe that one dipped, and it was up, but you’re pretty much on track.
If you didn’t do that, imagine you’d waited until the week before the end of the month, and you check the stats, and you’d got 250 people in three weeks. Well if you only had 250 people in three weeks, is it likely that you’re going to get 750 the next week? No.
So, having really regular check-ins with all of your statistics, all of your numbers, helps you know where you’re going and how well you’re doing in getting to your goals. So that’s really key, and it’s something that I really recommend as well. Always know where things are going, and what’s moving, and how it’s growing, and if not, you can take action to fix that.
So secondly - and this is more from a metaphysical/spiritual perspective - you get more of what you focus your energy on. So if you focus on bills, guess what? You get more bills. If you focus on every little bit of money coming in, and you’re so grateful for that money: “I found £1 on the street. I got £5 off my gas bill. I got a client paying early this month, or I got a new client.”
If you’re focused on that and you’re so filled with gratitude for every little bit of money that comes in, you’re literally sending out that energy of money coming in, money coming in, and that’s what you’re focusing on. And so you will literally get more coming in.
It sends a message out to the universe, or to God, or to whomever you believe in, to send more that way. And it’s really, really powerful. Whatever you are conscious about, you will notice more of and more will come your way. 100%. That’s called the Law of Attraction, so I really recommend that you do some digging and read a bit more about that if you haven’t ever heard of that before.
Catch Problems in Time
And then the third reason to track your money is that you can catch things before they get out of control. So often people – especially new entrepreneurs - they put something out there and it’s amazing. They spend weeks on their sales page, they think the whole thing is fabulous and they release it to the world…and then no one buys. And they start thinking “oh my gosh, it’s me, there must be a problem, everyone hates my stuff, I’m not good enough, nobody likes what I’m talking about.” And they start creating this entire personal drama around why they are not enough, and why their business is not good enough, and this judgment around it.
But in fact, it’s nothing to do with that. There’s likely a break in their sales funnel. 1% of people tend to buy your stuff, so if you want 1 sale, you’re going to have to get your product out to 100 people. So check your sales page stats: have 100 people actually gone onto your site? If not, it’s unlikely you’re going to make a sale. And this happens all the time; it’s really important not to put this personal judgment on yourself and just stick with the numbers. See where the break is, and then you’re able to fix it.
When you track your numbers, you can start working out what your average stats are. So if 0.5% people buy from you normally, you can expect 0.5% to buy from you next time. So don’t be shocked when 2% don’t buy. This is really, really key: just get very comfortable with your numbers, get out of the drama, and see where you’re at in your business or in your bank account, or in your personal life throughout.
So what are you going to start tracking today? I would love to know, and I will read all your comments. Thanks a lot, guys!
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