Featured Posts

Inspiring Marketing Stories Rss

Biz Tip #5: Track Your Numbers.

Posted on : 05-03-2011 | By : Carol Gancia | In : Biz Tips

Tags: , , , , ,

0

You love what you do. You enjoy doing all these wonderful things to help improve and promote your business. You spend a lot of time working on your website. You and your business are all over the social networking sites. Everyone you know from Zimbabwe to Sierra Leone are connected to you on Twitter, Facebook and LinkedIn. ‘Nothing wrong with that as long as you understand its role in your business.

Keep in mind that a business’ main purpose is to make money for you. Having followers on Twitter and a healthy audience on Facebook are great, but check every now and then how much of your efforts get converted to sales or sales leads. You need to connect the dots to understand if your website and social networking efforts all help achieve your financial goals for the quarter.

The best barometer on how your business is really doing is through your monthly financial reports. Look at your profit and loss and your cash flow statements. Figure out what they mean. Numbers tell the true story about your business. Use it as a guide. It will tell you what to do next– advertise, hire, outsource, expand or streamline.