Storage Wins EP175: How Are You Going to Grow Your Business Without Your KPIs?
This week's episode is all about KPIs (Key Performance Indicators) and why you should be tracking them! If you want to reach a certain income goal but are not tracking how many leads get converted into deals, then you're seriously flying blind. On the show, Alex offers advice as to what you should be tracking and even gives a full breakdown of what he and his team are currently keeping track of.
Key Takeaways:
- Business owners tend to get caught in a money hamster wheel and their relationships and health end up suffering. This is why Alex goes to masterminds and resonates a lot with Lifeonaire's message.
- Let's talk KPIs!
- You're flying blind without your KPIs.
- You have to know where you stand on a daily, weekly, and monthly basis.
- Alex talks about some of his KPIs and what they mean to his business.
- Don't get caught up in the number too badly, but at least set a goal and reverse engineer it.
- You can't always control the number, BUT you can control your effort.
- Take your ultimate goal and divide that by your average profit per transaction; that equals how many deals you need to close.
- What's your conversion ratio when you get in front of a seller?
- Do you sell your contract 100% of the time?
- How many leads does it take to get an appointment?
- What metrics does Alex track to help him?
- Don't miss this upcoming episode! Alex's guest closed 3 deals and made $55000 in the last 3 months, and he's only 18 years old!
- If you'd like this show, please rate and subscribe on iTunes!
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Mentioned in This Episode:
Flip Empire Private Facebook Group
Email Alex: Alex@FlipEmpire.com
Interested in joining The Flip Empire Inner Circle (Small Group Consulting Program), apply here: Flipempire.com/application
Tweetables:
"It becomes crystal clear how the data drives so much of the business."
"Give me data, not drama. You have to know your numbers."
"Start with an income goal and then reverse engineer the process so you know how many leads you need to drive."
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