Want bigger results?

Track your business metrics with a dashboard

“Where your focus goes, your energy flows.”
— Tony Robbins

Focus is the name of the game when it comes to entrepreneurship, and so is tracking your business metrics. Because if you don’t track it, you can’t change it.

If you’re spreading yourself too thin and taking on more than you can handle, nothing gets the best only you can offer.

That’s where a dashboard comes in, it helps guide your focus while offering solid metrics to keep you working on the tasks that produce a result rather than keep you busy.

What is a Dashboard?

You may have heard the term “dashboard” (also referred to as a snapshot, flash, or run rate).

A dashboard is a visual tool that records the valuable metrics of your business.

This can be done as often as you like, but the primary goal is to measure the health of your business at any given moment with realtime, accurate data.

Think of it as an at-a-glance view of your business where you can see what’s working and what’s not.

How You Can Effectively Implement Your Dashboard?

Effectively implementing dashboards and making the most of them for your business starts with understanding your key metrics and setting clear objectives.

By maintaining a disciplined approach to dashboard management, you can turn raw data into actionable intelligence and drive sustained growth for your business.

What Metrics Matter?

In the early stages of your business, you may be uncertain which metrics matter the most.

That is okay. It’s more important to start collecting the data and putting it into a dashboard than to wait until you have the perfect combination of metrics and timing.

In other words, expect it to change.

As you get started, my recommendation is to have your dashboard available to you on a monthly or weekly basis. This allows you to set the agenda and goals for the week or month.

Getting Started with the Right Metrics –

Starting with a monthly dashboard can give you a broad overview of your business’s performance. Aim to have your metrics completed no later than the 5th day of the new month. For example, if you are reviewing April, have your April metrics completed by May 5th. Reviewing these early gives you time to implement changes for the upcoming month. Consider each month as a fresh start.

Monthly Dashboard
(very similar to weekly)

It’s important to remember that you don’t need to change your strategy every time you receive your dashboard. The key is to use this information to make informed decisions moving forward. Establish benchmarks and avoid knee-jerk reactions. Consistent review will help you refine your approach over time.

Financials

Total Sales for the previous month: Analyze if your sales have grown or slowed. Identify the reasons behind this trend.
Average Order Value (AOV): Determine the average sale per order. This helps in setting realistic sales goals and strategies to achieve them.
Top 2-3 Products/Services: Identify your bestsellers and the reasons behind their success. Discuss strategies to capitalize on these products.

Marketing

Number of New Email Subscribers: Track if you are hitting your monthly goal for new subscribers.
Social Platform Analysis: Depending on your preferred platforms, track the number of new followers and engagement levels.

Management & Sales Team:

Service-Based Metrics:
- Number of Scheduled Appointments
- Number of Cancellations/No Shows
- Number of Available Appointments
Product/Service-Based Metrics:
- Number of Sales Calls Made

Weekly Dashboard

If you prefer a more frequent update, a weekly dashboard might suit you better. Ensure you have all your metrics available by Monday morning through Friday. This practice allows you to pivot and respond to the information promptly.

Financials

Total Sales for the previous week: Evaluate weekly sales performance and identify trends.
Average Order Value (AOV): Monitor your average sale per order weekly.
Total Sales Month-to-Date (MTD): Check if you are on track to meet your monthly sales goals.

Marketing

Number of New Email Subscribers: Track your progress toward your monthly goal.
Social Platform Analysis: Monitor new followers and engagement on your chosen platforms.

Management & Sales Team:

Service-Based Metrics:
- Number of Scheduled Appointments
- Number of Cancellations/No Shows
- Number of Available Appointments
Product/Service-Based Metrics:
- Number of Sales Calls Made

Getting Started with the Basics

To help you decipher the numbers in your business, consider using a simple spreadsheet to track each week’s or month’s information for easy review.

Starting with a straightforward approach helps you get into the habit of regular monitoring without the need for complex tools.

If you need help getting started, snag my free Guide to Knowing Your Numbers.

As You Develop Your Dashboard

As you begin to use your dashboard to track important metrics regularly, you’ll start to identify areas of strength and weakness in your business. This insight will enable you to ask critical questions, such as:

- What key areas can create additional sales and profit?
- Can technology automate some of my processes to allow time to work on other things in my business?
- Can we reduce the number of cancellations/no shows and increase our sales by addressing these areas?
- Do we need to shift our marketing strategy to focus on our top 2-3 offerings?

Tools to Create a Dashboard

While a simple spreadsheet is an excellent starting point, you might already be ready for a more advanced tool to help you automate and enhance your dashboarding process.

Moving Forward with Your Dashboard

Remember, this is an ever changing process, but it holds so much information for how to move forward, make changes and even create more space in your business.

If you’re interested in a full analysis of your business and help identifying your dashboard metrics, feel free to contact me for a quick 30-minute FREE strategy session. Together, we will identify areas that will improve your bottom line and grow your business.

Let’s Work Together and Build Your Dashboard

I understand the challenges of running a business. You’re invested in making your business the very best it can be. I’m here to help you stay in your lane, focus on what you do best, and take your business to the next level.

Let’s work together to build a dashboard that empowers you to make informed decisions, optimize your efforts, and achieve your business goals.

Get My Dashboard

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