“Not everything that counts can be counted and not everything that can be counted counts.”
While not everything that counts can be counted, here at Full Circle we do our best to keep our eye on the right numbers and metrics so we know the needle is moving in the right direction. Without this level of attention each week, month and quarter, we wouldn’t know if we’re on the right track until the year is over and we’re potentially no better off.
So here’s what we monitor so we can keep moving towards a higher level of success, and what we encourage all small business owners to do as well.
1. Set S.M.A.R.T Goals!
Obviously you can’t get what you want if you don’t know what you want. It amazes me how many people don’t have goals and expect to get something different by doing nothing about it. The Law of Entropy is the natural tendency of a system to go it’s least organized state if left to its own accord, which validates that the lack of setting goals and having systems to support it is a recipe for complacency!
We set Specific, Measurable, Attainable, Realistic, and Time Bound goals every year in December to ensure we are clear on what we want to accomplish the following year at our AGM (Annual General Meeting).
By getting these goals set by mid-December, it gives us time to breakdown what will need to happen each quarter to achieve these goals, assign dates and leaders to the tasks, then allow us to enjoy the Christmas holidays before jumping into the new year.
2) Measure Our Goal Progress
Once we set the goals for the year, we take it a step further and break down sub-goals for the quarter. Quarterly goals are in support of our annual goals, allowing us to make bite-sized and attainable progress throughout the year.
In order to ensure we are on track, we have a weekly Monday morning meeting where we look at the current progress of our goals on a monthly level. We can celebrate wins and easily see what area needs more of our attention/time/energy/advertising. This Monday meeting has a section for each goal and notes we can push through to see what’s being worked on, who’s doing it, where we need help, and deadlines it will be done by.
It becomes easy to move your goals forward when you never lose sight of what you want and how you’re going to get there!
3) Where Did Paying Clients Come From?
Every business owner should be tracking their marketing – even if you don’t think you’re doing any- just talking to other people in the community about your position is marketing.
If you’re running a chiropractic practice, you need to be tracking new leads, conversions, and what “channel” this new patient found you through, so you can easily assess what’s working, what’s not, and where to focus your advertising and attention. Dr. John Demartini, author and speaker and former chiropractor, was adamant when he was in practice to make a point of asking exactly who referred the client in. Dr Demartini would not stop there, he went so far as to ask for the exact wording that was used that got them to make an appointment. The magic is in the details.
At Full Circle we track:
- New leads
- What service they are interested in
- How/where they found us
- Was there phone conversation and if so, with whom?
- What’s the next follow up action steps, by what date, and by whom?
- Did they convert into a paying client?
- Marketing dollars spent per marketing objective (mailers, facebook ads, webinars, etc)
- Marketing ROI on dollars spent
- Marketing ROI on time invested per marketing objective
- Cost per lead
- Cost per conversion
This takes a lot of time to stay on top of, but you better believe we know exactly where the revenue flowed into our company and how much time and energy it took us to earn it.
Our marketing planner template is where we track the majority of this data.
We also keep a quick at-a-glance ledger on the side of our Monday agenda so we can see leads and conversions for the year. By seeing every name of lead and conversion, we not only stay mentally on top of our game but we keep an expanded mind of our client base allowing for growth. Another Demartini exercise is to count every client you have from memory, and where you start to forget names, that is your average number of visits/clients you will see on a regular basis. Expand the names, expand the practice, expand your life.
We then use Asana to track every new lead by inputting their name, tagging them depending on the service they are looking for.adding a description of our interaction with them so anyone can follow up and know what they’re talking about, AND then adding a follow up task with a deadline and a teammate in charge only builds more momentum and rapport.
4) Measure Personal Success
Look, business is just a reflection of yourself, it is a mirror like every other expression in our world.
Career success is just one piece of a successful life, contrary to what society sometimes shoves down our throats. If the only goals you set per year are related to business and career, you’re going to see other areas of your life suffer due to the Law of Entropy..
All teammates and clients of Full Circle are tasked to complete the “I Know I Am Successful When” planner at the beginning of every year so we can move ALL areas of our life forward in a way that’s authentic to us.
Physical success to me is going to be VERY different than it is to my mother. Although we may both want the same thing – to look and feel great – the road to get there and that expression is likely to be vastly different. So what 3-5 action steps can be done daily/weekly/monthly to achieve this?
Setting these goals is important and viewing them daily is a major piece to this as well .
Once you’ve crafted your authentic success in every area of your life, not only can you see what action steps need to be taken, but you can also see how much it costs to BE a success!
HINT: way less than you think!
Each quarter we reflect on how much closer we are to owning these pieces so that entropy takes a back burner to our winning mentality!
5) Nitty Gritty Numbers!
Do you manage your own books or do you outsource that to a bookkeeper or accountant?
Do you look at your numbers each month to see where the money flowed?
Do you know the overhead of your business?
Do you know the overhead of your personal life?
Do you live within your means?
These are the questions that make people sweat – especially those who hated math class in high school (guilty).
A Profit and Loss Statement is a good piece of paper to look at in business, it’s important to see if your business is spending more than it’s earning. Forbes Advice: spending more than you bring in is not sustainable.
Although, the Stats we look at each month is an entire view into your financial landscape. By having your business earnings, business overhead, personal income, and personal overhead all in one place, we can see if you’re moving toward your financial goals or self-sabotaging your success by living outside of your financial means.
It’s amazing how the psychology of this reflection works. Soon enough you start second-guessing some purchase decisions because you know you’ll have to add that to your lifestyle overhead at the end of the month.
This is much more powerful when you have to share this with a coach or a friend who has your best interest at heart.
There you have it – A glance into the heartbeat of our coaching business and the gears that keep it turning. You may feel a tightness in your chest after reading this that suggests it’s too much work to maintain, but I contend these are the numbers and metrics that define success.
If you want to support us in our fight against Entropy and truly claim control over the fate of your future, I recommend adopting these rituals. Your future lifestyle and those inside of it will thank you!
And if you like the idea of being one of those entrepreneurs that does all these great things, but you know yourself well enough to admit you won’t do it, then I suggest you book a free strategy call with our team to see how we can be your accountability and hand hold you up their ladder of success.
Book your call today to start charting your own success by filling in this short application.