331. Tracking Your "Business Macros" Part 3/3 - Advanced Sales Metrics and How to Set Your Monthly Income Goals
The Fitness Business Podcast with Erin Dimond and Jordan Dugger
Erin Dimond and Jordan Dugger
4.9 • 670 Ratings
🗓️ 12 May 2022
⏱️ 20 minutes
🧾️ Download transcript
Summary
In our final part of our series, I want to discuss first some advanced sales metrics if you are at that point in business (or something to keep in mind as you grow) and then get to the juicy stuff. Setting those monthly income goals based on all the work we've done over the past 2 episodes. It will make a lot more sense if you listen to those first and will make this process a lot more predictable going forward. Topics include:
- Part 3 Intro and In Case You Missed Parts 1 and 2
- Advanced Sales Metrics
- Cash Collected and Contracted
- Setting Client Acquisition Targets
- Wild Numbers to End On
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | What up squad? Welcome to the FitBiz podcast. Today's episode is part three of three on how to track your |
| 0:04.6 | business macros. So if you haven't listened to the first two episodes, part one, I covered your |
| 0:10.2 | profit, revenue expenses, how to track those things, how to like know what your labor expenses should be, |
| 0:16.5 | your overhead, your marketing to make just better business-based decisions, okay? That's part one. |
| 0:21.2 | Let's go back and listen to that if you haven't. Part two, we covered the basic sales and |
| 0:25.8 | marketing numbers that you should be aware of if you're kind of beginner. So under like |
| 0:29.7 | seven to 10K months, your solopreneur, what are the basic numbers you need to have familiarity |
| 0:34.4 | on? And ultimately to know how to set targets and set your goals |
| 0:38.1 | and hit those goals. But part three today is really the fun part. So this is how now that we know |
| 0:44.2 | what our data points are, how do we set our monthly targets so we can predictably know, okay, |
| 0:48.7 | how many clients am I going to sign? How am I going to actually sign those clients that I can |
| 0:52.0 | control my actions based on data? And then how much revenue am I going to have in my business that I can control my actions based on data and then how |
| 0:54.7 | much revenue am I going to have in my business collected cash contracted all those things and this is going to |
| 1:00.1 | allow you to look at the end of the month and to say did I hit my goals if I didn't where are their constraints |
| 1:05.5 | like are my show rates down or my close rates not where they should be um do I have not enough calendar |
| 1:10.4 | availability it'll you'll give you these these insights into your business to make better database down and my close rates not where they should be. Do I have not enough calendar availability? |
| 1:11.1 | It'll give you these insights into your business to make better database decisions. |
| 1:16.0 | It's ultimately grow your business. But it's not just growing your business. This is going to |
| 1:20.1 | help you sign better clients who pay more. They stay longer. They refer more. They get better |
| 1:25.3 | results and they grow your business for you, so you don't |
| 1:27.8 | have to chase clients all day. And if you're somebody who struggles with like, oh, I just don't know |
| 1:31.5 | how much I should be posting to get clients or like how much I should be spending having |
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