Know your numbers

One of the conversations that we probably don't value enough, is the convo about knowing your numbers. It's super easy to get emotional about how your business is going (or not going) but the truth is that the numbers, the data, don't lie. In today's The Coffee Run (Ep583 - WOW!) I talked through the numbers you need to know and why it's important. The two main ones we discussed today: 1) Your business break-even numbers How much does it cost you to turn on the lights? It's super easy to get emotional about how your business is going (or not going) but the truth is that the numbers, the data, don't lie. Things like: insurance, database subscriptions, accounting software, team costs, Virtual admin, Canva pro, etc. 2) Your household break-even numbers! How much does it cost you to run your household on a monthly basis? And you need to add this onto your business break-even numbers. (If you have a partner who contributes financially, work out if there's a shortfall that your business needs to cover). 3) What are your conversion numbers? eg. Do you know how many leads you need? And how many of those convert to sales? What's your sales conversion like? Do you need to build a bigger pipeline? Knowledge is power, and no matter if you're a start-up or a seasoned pro, it's essential that you MAXIMISE your PROFITS! After all, that's what hits your pocket! x