Shop Talk – Three Things You Should Measure to Make Money in Business

She said “I don’t know, my accountant hasn’t done my books in the last couple of years.”

The sad thing is, she is not the only person who said this to me which tells me that you might have the same problem. You too might not be measuring the right thing in your business and this may be why you are not making as much money as you would like.

We will be focusing on a lot of measurements in The Social Club. If you aren’t a member, you can still measure the important stuff on your own.

Try measuring these three things every week, and month for the next year and let me know if your business grows, and if you make more money.

I’ll bet you do.

Share with me in the comments, what is the most important measurement in your business?

 

 

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6 Comments

  1. Great advice. I see myself continuing running in the business trying to break that cycle. I did hire an accountant, but it was too late for one of my businesses. I have learned a lot and you are right now your sales, expenditures and net profits.

    Thanks!

    Wendy

  2. So true! And I think entrepreneurs, especially those in healing or creative businesses like artists/coaches/energy workers, etc. are sometimes loathe to look at the numbers. Often this is because the business is not yet profitable, or barely so. But I do believe the saying “what you focus on, grows.” So if you want more money, you need to look at and focus on the numbers, the profits. Thanks Lisa!

  3. Hi Lisa – this is awesome advice. I agree with everything you said here, the moment I started analyzing and understanding my sales and balance sheet of expenses was a huge wake up call. I am making efforts to think about it daily now and have a new e-invoicing system that tracks my sales which I find very useful. Thanks for taking the time to share this shop talk advice.

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