Whenever we visit our doctor for a check up, our vitals signs are checked (temperature, blood pressure, heart rate, etc.). However, many businesses that I work for do not take their own vital signs and statistics. Why is this important?
Well, just like regularly checking your blood pressure and other health checks, you are alerted to potential issues or immediate needs- The same rings true for business. Many businesses do not know their cash flow, their bank account statement, what work is confirmed and coming down the tubes, their conversation stats, etc. Knowing this has saved some businesses and has catapulted others into big success.
Each Friday I take the vital statistics of our business. I opened our corporation, Hammond International Inc. in 1997, we are now 15+ years old, and have learned a lot through those years. One such learning was the need to know your vital statistics and signs.
Here are some examples of my Friday Vital Statistics Activities:
1. Website statistics and analytics
2. Review contracts, sales, and closed projects.
3. Track book sales, speaking engagements and other business activities
4. Follow up with clients
5. Check our Amazon.com sales, regions our books sold in, and number of new endorsements on our book pages.
6. Check our Blog Statistics: number of blog reads and views, number of followers, etc.
7. Check our affiliate revenues.
8. Visit my three radio show statistics for listenership and download statistics
These are a few of the activities I do on Friday Vital Statistics day. How can you adopt this for your business? How would being closer to your numbers, stats and business goals help advance your business and team success?
Some of the other activities that I do on Vital Statistics Day include sending thank you cards to my radio guests, to hosts of media shows I have been on, and to clients for doing business with me.
Being in touch with your business numbers keeps you focused on your business goals and targets, the financial needs of your company, and serving your clients in the best ways possible.