The K.I.S.S. method of tracking your numbers – Monarch Money Message of Nov. 14th 2016

K.I.S.S – The “Keep It Simple System” or tracking without “tracking”

We’ve started talking about tracking your numbers. Last week, I asked you to find one number in your business that you are willing to review.  Did you do so?

I find that the reason most people do not look at their numbers, nevermind track them, is because it seems “difficult” or it’s “math related” or “it just takes too much time”. What if that is not the case? What if there are ways that are simple, easy and fast? Here are a couple of super simple ways to start doing so.  Afterall, when things become simple, they become easy. When they are easy, you are more likely to do them!

Simple Tracking #1: Mile IQ app
This app tracks all your driving without you having to think about it. How often do you go into a car to meet someone – whether a partner, a prospect or a client? Well, that car time matters. It’s time, mileage, and gas. Those are all deductible on your taxes if nothing else. Also, it shows you just how effective  or productive all that driving around is.  Using this app is a simple way to ensure that you are only driving when and when it really makes sense. NO more futile meetings!

Simple Tracking #2A: Networking: – Business Cards 
If you do a lot of “live” networking, you collect a lot of cards. If you are like me, they accumulate rather quickly, and often times are just thrown in a box or a draw and that’s it. Here is a way to track them without tracking them .

Every time you collect cards from an event, just put the date on it (the place even better….however, baby steps ok?), and mark it with a colored pen (say blue). Anyone who becomes a prospect, just take their card, add a second color (orange?) and this date. In fact, just write the date in the colored pen! How easy is that? Finally, any prospect who becomes a customer, another color and the date (I like green for go, and “color of money”). Anyone who was a prospect but is no longer viable, write the date in yet a different color (red for stop?)

At the end of the month, just count the cards, ALL the cards, to see how many people you interacted with, how many prospects you got, and finally how many new customers (as well as non customers) you got that month. This information alone will be of tremendous help going forward! Keep it up , and you will learn:
– How effective is your overall networking
– How many people on average you interact with
– How many interactions turn into real prospects
(conversion rate #1)
– How many prospects become your customers
(conversion rate #2)
– How many people do NOT become your customer
(extension of above, and equally important)
– How long it takes for someone to do from interaction to customer

ALL by just writing dates in different colors!

Simple Tracking #2B: Networking: On-line contacts
Although this is a bit more difficult, it can still be done.

Start with your most active site, for me that is Facebook. To start, just have a place to mark a line for every interaction you have with someone. At the end of the day, count it and note it. Just start with this to get used to it.  When this becomes a habit, then you can take the next step, add prospects. Ideally, you will at least write the name of the prospect. When you are ok with both, add the third- customers. A fourth is partners. To take this a little deeper, start to do it by the groups in which you participate.

Just knowing the numbers allows you to plan and forecast.  It will also show you how effective you are in these efforts, as well as whether or not you are investing your time or spending it (aka wasting it!)

These super simple and easy steps give you a lot of information, which begins to give you control, which will tremendously reduce the amount of stress and overwhelm.

Try it! I certainly can’t hurt and will be a major step in getting your business moving!

let me know how it goes below….

To your success-
Coach Lee