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Let’s Create Your Dashboard

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

You may have heard the term: Dashboard (also referred to as a Snapshot, Flash, RunRate)

A dashboard is a visual to record the valuable metrics of your company. This can be done as often as you would like to measure the health of your business.

In the early stages of your business, you may be uncertain which metrics matter the most. That is okay. It is more important to start “dashboarding” than to wait until you have the perfect combination of metrics and timing. In other words, expect it to change.

When getting started, I would advise you to have your “dashboard” available to you on a monthly or weekly basis. This allows you to set the agenda for the week or month.

MONTHLY METRICS

If you are starting with the month, set your goal to have your metrics done 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. You need to review these to make time for changes heading into the next the month. You have to think of each month starting at zero. This will continue to evolve as you grow and expand your business.

For example, if one of your metrics is to measure the success of your FaceBook Ad, reviewing this metric early and on a regular schedule will inform you of necessary changes that can be implemented immediately.

Another example, measuring your product or service sales and profitability gives you time to “tweak” your marketing efforts, creating focus on those identified growth opportunities.

View Monthly Dashboard Breakdown

WEEKLY METRICS

If you are starting with the weekly dashboard, make sure you have all your metrics through Friday available to you on Monday morning. Again, this gives you time to pivot and respond to the information.

This DOES NOT mean you need to change what you are doing every single time you receive your dashboard. This only gives you the information required to make decisions moving forward. Matter of fact, it is better to NOT have a “knee-jerk” reaction every time. The sooner you know your metrics and can establish benchmarks, the better.

What should be included in my first dashboard?

This really depends on many factors within your business. You can typically break this down into key areas: Financial, Marketing & Management.

  1. How long have you been in business?
  2. Are you product or service based?

You get the point. Dashboards with metrics cause focus.

View Weekly Dashboard Breakdown

Let’s get started with some of the basics:

For help deciphering the numbers in your business, use my free guide: here

Weekly Dashboard

  • Total Sales for the previous week: Have your sales grown or slowed this past week? Why?
  • AOV (Average Order Value): What was the average sale per order? This is helpful when determining how many units you need to sell to accomplish your sales goal.
  • Total Sales MTD: Are you on track to meet your sales goals for the month?
  • Top 2-3 Products/Services that are selling. Find out why? Discuss how to capitalize?
  • Number of New Email Subscribers: Are you on track to hit your monthly goal?
  • Social Platform Analysis (this will depend on your particular platforms of choice)
    • New Followers
  • Service Based:
    • Number of Scheduled Appointments
    • Number of Cancellations/No Shows
    • Number of Available Appointments
  • Product/Service Based:
    • Number of Sales Calls Made

Monthly Dashboard
(very similar to weekly)

  • Total Sales: Are you on track to meet your sales goals for the quarter/year?
  • AOV (Average Order Value): What was the average sale per order? Are you on track to make your sales goal? Is an upsell an option?
  • Top 2-3 Products/Services that are selling. Find out why? Discuss how to capitalize?
  • Top 2-3 Products/Services that are the most profitable.

Marketing

  • Number of New Email Subscribers: Did you hit your monthly target? Why or why not?
  • Social Platform Analysis (this will depend on your particular platforms of choice)
    • New Followers
  • Service Based:
    • Number of Scheduled Appointments
    • Number of Cancellations/No Shows
    • Number of Available Appointments
  • Product/Service Based:
    • Number of Sales Calls Made

As you develop a dashboard

this will begin to identify areas of strengths and weaknesses in your business.

Ask yourself these questions

  1. What key areas will create additional sales and profit?
  2. Can technology automate some of my processes to allow time for additional sales calls?
  3. Can we reduce the amount of cancellations/no shows and increase our sales by identifying those areas?
  4. Do we need to shift our marketing strategy to focus on our top 2-3 offerings (products/service)?

Tools to create a dashboard

The easiest is a simple spreadsheet where you keep track of each week’s/month’s information for easy review. I would advise starting here for your first six months.

Another option is to implement a technology platform similar to Klipfolio. There are many useful tools available.

This is just the beginning.

For an analysis of your business and identifying your dashboard, feel free to contact me for a quick 30 minute FREE strategy session.

We will identify areas that will improve your bottom line and grow your business.

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