Track Your Key Performance Indicators
Wei have got a short and punchy lesson for u are u ready? All right, here's our goal to create a tracking system for your key performance indicators so you can pay attention to what counts. In the previous lesson, we did find archaic key performance indicators, those things, those numbers that aren't just vanity metrics, but the numbers, the indicators that actually get us closer to our goals of attracting new clients, making more money and getting to the position we want to be in with our businesses. And we did that because what you pay attention to grows if you're not paying attention of the right things. If you're obsessing on metrics that don't mean anything to your business, you're not going to be putting your actions in the right place. And when you keep your eye on key performance indicators, not vanity metrics, you could do exactly that. So let's, look at where we are in the process, we are almost done with session three this is lesson fourteen. Track your key performance indic...
ators so when you're not paying attention to what's truly important, truly important it's, hard to stand out were not paying attention to what's truly important, it's hard to stand out because you don't know how you should be spending your time. You don't know what actions lead to growth you don't know what actions lead to what you want to be known for. You don't know what actions lead to actually attracting the clients you want to be attracting. So when you pay attention to what's truly important, you act in a way you put your time, your money you invest in away in your business that allows you to stand out now one of the most important things that you can create in your business is a system that you'll actually use. I I love how you guys giggle that was perfect that was perfect on cue, I did not ask them to do that. So one of the ways that I go about thinking about how I can create systems in this case a system for tracking mikey performance indicators is canada used tools that I'm already using for this purpose, and I want to give a shout out to a to a friend of mine and a quiet power strategy certified coach natasha veron pio va who this is yeah, natasha is amazing, and this is just how her brain thinks this is one of the ways she actually stands out as she will look a tool on application a platform and think what are all the different ways I could use this in my business? Most of us think, okay, so I have to do this particular action so I need a new tool for that what's the right tool for that job? What if you flipped it and you looked at all the things that you're already doing in your business all the tools that you're already using maybe you even have system set up already? How can you use those tools or those systems to accomplish this? One task that I'm giving you tracking your key performance indicators so let's look att two systems to tools that I use in my business that are really good at tracking kp eyes were really good ways to set up tracking systems for kp eyes that maybe you might be using these systems as well. Or maybe you might be using these tools as well or you could use these tools for many different things in your business and maybe get rid of a whole bunch of junk that you're currently using so we have ever note for tracking kp eyes I am evernote obsessive basically we run my whole business on evernote natasha actually has a product called evernote for small business that explains exactly how to do that really really smart. When natasha told me she was thinking about how you could use ever note too basically do project management and run your whole business girlfriend tell me all about it because I've been using it for years I've been using it for at least five years um all of my block post ideas go in there all my checklists go in there and now with the features that they have, you know my assistant can use it and she can send me messages I can send her messages she consent reminders for me. So if there is a certain task or checklist that I need to complete by a certain date or maybe I need to see swing back on some interview information that I need to to round up for someone she can set a reminder for me so that not only does it doing on my computer, but it dings on my phone and I can answer it from anywhere. That's one of the things I love about ever note is how platform agnostic it isthe you can use ever note on any device with any kind of operating system it's beautiful, you can have it everywhere. So that means when I have a brilliant new idea for a bog post. I am never more than a foot away from a device that I can use to record that idea. I don't use pen and paper hardly at all anymore cause pen and paper gets lost, and luckily I don't lose knock on wood the devices that I have ever known on okay, so, uh what we do in ever notice that we actually create notes with the tables so probably the easiest way to track kp eyes is in some sort of spread sheet so you can use tables you know, just like the little grids uh in ever known you could just pop him in just the way you wouldn't in a word document pop your table in a sine values to your horizontal row and your vertical row and, you know, basically turn it into a spreadsheet system but the other cool part about ever notice how you khun set a reminder to come back to it so my assistant is actually the person that tracks the kp eyes in my business and so she hasn't set to remind her every monday morning it brings us, you know, a certain set of notes back up to the top links to them and she's able to go in there every monday morning and fill these things out it doesn't take very long at all she counts something's up, she runs a couple of reports boom it's done the numbers are in there, you know, an hour to later I can go in and see what's going on it's really beautiful, really simple any questions about that? It is awesome now another very simple tool and probably one you're all using in your businesses is google drive how many people are using google drive in one way or another in their businesses? Yeah, we we do all sorts of things and google drive. We really like it for the collaborative features, so we actually run the quiet power strategy program through google drive. It may not be beautiful, it may not be fancy, but it works really well now this system is great because it's got a building spreadsheet thing and you can share it with multiple people on your team. And then you can also use google calendar to set those reminder so you could just take the link from your spreadsheet, pop it into a google calendar reminder and set aside, you know, fifteen, thirty minutes an hour out of your week to track those kp ice or to delegate it to someone else on your team. Any questions about using google drive beautiful say this is not hard now. This is an idea of what your sample tracking spreadsheet might look like, and this is something that you could do in either ever note or google drive. Of course, you can pull this up in an excel or a numbers file a swell, but then it's only on your computer it's probably not very easy to collaborate with it. Ah, and so that's, why ever come in those two tools and also because they're probably systems you're already using in your business? So this is how I would do it I would um this is an example of week by week there could be kp eyes that you track on a daily basis there could be kp eyes you track on a monthly basis however you make sense for you in the metrics that you're tracking set that up chronologically and then set up the actual kp eyes that you're tracking new subscriptions, conversion rate free consultations, whatever yours might be I said mine was new sign ups, turn rate and new conversations so those air three that we track on our spreadsheet looks very much like that okay? Questions about that is that hard? Can you do that, briana I know you can do it I guess I would look yes question uh can you talk a little bit more about how you determined the right frequency for tracking some of these different metrics because as you said different metrics they're going to require different frequencies is there help help me think through that sure would make that decision so I wouldn't measure something like conversion rate on a daily basis because the traffic is going to be pretty consistent on a daily basis and so it's not going it's not going to tell me much day today you want to get enough data that it actually means something so I would say I don't have a benchmark but that would be the thought process is when, at what point do I have enough data on something that it actually means something so I might look at conversion rate over a week by week period? That's what, in the previous lesson, when we were talking to kate about what her strategy for adding a thousand new, uh, email subscriptions might be, I suggested making small changes to her landing page week by week to see if she could push conversion. So I think week by week for something like that, um, you know, you could do day by day, depending on how much traffic you get through it's all about measuring an amount of data that's going to be meaningful to you. So free consultations might be something that you do track on a daily basis because maybe one free consultation is meaningful to you, and you could go back and look and see. Was there something I did to get that free consultation? Yeah, does that help? It does it makes sense to me on the stuff that, you know, it's, high volume or there's high frequency. I'm thinking of some of the stuff that I'm considering for my kp eyes, which might be things like repeat buyers s ome I repeat, buyers might be six months between times that they come back to me. Um and I want to be able to track like frequency and time between so that might be actually something instead of putting it on a spreadsheet, you might put it on a calendar so that you could go back and say, you know, this is when this person initiated work with me this is when they came back this is when they came back because I'm assuming could do it in google calendar too I know in at a cow you can actually search for someone's name, eh? So if you were tagging events in a certain way, you could very quickly whether by name or by some other tag very quickly so search and see at it at a glance what the frequency was there so then it might not be so much of about tallying things up as looking at the progression of time right? And so when you're tracking the mattress you know there's there's the data and tree side of things which might be, you know, daily weekly or whatever then there's also you know, the time to actually go and look for those patterns it's not something that is that like a quarterly thing or what's your recommendation in general so I do it on a weekly okay, sis, but I would say I look for trends maybe over a month just on the particular kp eyes that I'm thinking of that we that we're tracking I would look for a pattern over a month period of time am I pushing sign ups in the right direction over a month where are things started to fall apart but hopefully not but yeah and so that's a good point when I say you want to collect the amount of data that's meaningful that hints in another part of the story which is that data is only meaningful when it telling you a story right? So your story might be very different than my story depending on what kp eyes you're tracking but that's essentially what you always want to be doing when you're looking at data if you get overwhelmed by numbers ask yourself what is this metric? What are these numbers telling me? What story are they telling me makes sense cool now surprise you've got two easter egg number three if you go to terra gentilly dot com slash egg three answer the question uh enter your email address and we'll send you a free pdf copy of my new book quite power strategy so again it's tear it until he dot com slash eggs three answer the question enter your email address we'll send you a new a pdf copy of my new book absolutely free any questions about tracking your kp eyes very simple yes all right that's it let's look at your homework because you've got some homework on this lesson right set up your kp eye tracking system with a document or a spreadsheet, and reminders must have reminders, because if you're as absent minded as I am, you will totally forget about this brilliant new thing you have added into your business planning. So set up a k p I tracking system with a document or spreadsheet and reminders. And let me tell you the reason I made this lesson so short is because I don't want any excuses for this not getting done looking at you, all right? Uh assigned duties two team members. You may not be the best person on your team to track this information. If you've got a team member. If you've got a virtual assistant, a project manager, an intern, someone that's working with you in your business, maybe you have multiple people that are working with you and your business. How can you get them involved in tracking your kp eyes? The other benefit to this is that then they know what's going on when they know the story that your numbers air telling you they could be more proactive in creating value with you or for you so that your business is moving in the direction you wanted to move without you having to come up with the solution, wouldn't that be awesome, yeah. I mean, I love how we use contractors today in that it's flexible, and you know what we think, okay, I don't want to do this anymore, so I'm gonna outsource it. But we miss a certain opportunities to involve people mohr on a team oriented basis. And that doesn't mean you necessarily need to change your relationship with that team member it's. Just the you welcome them in a little bit more. You give them a little bit more information, so that as an expert in their job, which is what a contractor really is, they can do their job better.