Hey Super Trainers,
It’s your main man 7-figure Sam,
I recently asked two fitness business owners how much profit they made last year.
Neither one of then could answer.
I also asked them how much they paid salaries to employees.
Again, neither of then could answer. You’re kidding right???
Most business owners find numbers intimidating, but in business it’s absolutely essential to know your numbers. Specifically, what numbers are we talking about here?
* How many new clients did you acquire last week?
* How many clients did you lose last week?
* Percentage of people you closed last week?
* Total number of leads last week?
* Where the leads come from?
How much PROFIT you made last week, last month, last year?
Hopefully you can see just from that small list why these numbers are so important.
In addition to knowing the numbers, there’s an interesting additional benefit that you may not have considered.
In the 1930’s something called the “The Hawthorne Effect” was discovered.
It found that when something is measured, it inherently improves exponentially.
The reason is likely that being aware of the numbers in a business causes the owner or staff to want to do better. We’re aware therefore we take action to improve. Whatever the reason, apparently it works, and that’s what counts!
Test Fast, Fail Fast, Adjust Fast…….
You Can’t manage What You Don’t Measure
Never leave numbers to chance
That’s like playing with fire
The message here folks is simple: If you don’t know your numbers, you don’t have a sustainable business. Implement a system immediately to be aware of all the important metrics in your business, and then set a goals to make constant improvement.
Together we go big or we go home ;)
Your boy Sam
Kick in the ass I needed. Have gotten A LOT better at this since our last meeting, but there’s still A LONG way to go.
Hi Sam, what software(s) do you use for keeping track of all this?
I use shape.net and I also heard mind body does a great job.
But as far as my finances I have a book keeper that I meet with every month and we go over EVERYTHING related to money coming in and going out.
I also track with different phone numbers, and different pages where the leads are coming from.
Hope this helps.