8 Keypoints That Must Be Tracked In Any Home-Based Business
by William Winch
Any activity worth doing in a home-based business is worth recording. Tracking data is how you guage how well you are doing, and conversely, how bad you are doing. In order to get a stalled business in motion, you need to make changes. The only way you can decide what those changes are is to track your activity every single day.
Here are 9 important activities I tracked that helped me get my business moving fast.
Total Amount Of Daily Calls
You have to develop your skill set first. Make as many calls as you can possibly fit into your day. After all, this is where you make money. As you progress, the number of these calls will decrease because your skill set will improve. The more calls you make, the more practice you get and the better your skill set will become.
Total Weekly Calls
You should try to make the same amount of calls every day of the week, so at the end of the week your total should be relative. This is a good way to discipline yourself to work over-time over the weekend to make up for calls you may not have been able to make during the week.
Total Prospects You Reach
The total people you reach will be less that the total amount you call, but tracking this can help you decipher which time of the day is more productive. Sometimes you could call for an hour without reaching a single soul. You want to use this as a way to figure out the best time of day to reach the most people in the shortest amount of time behind your desk.
Total Weekly Closing Attempts
Out of the people you reach, there will be another set of numbers for those who have listened to your presentation. Whether or not they enroll is irrelevant because the purpose of tracking this is to see how many people your pitched to. This gives you an indication of how good your leads are and if you need to change them for better results.
New Enrollments For The Week
This is the only data that most people think they need to track, but it doesn't help you improve. Although it is always helpful to know how many people you are closing every week, if you want that number to increase you must make changes to the other areas listed above.
Reasons Your Prspects Did Not Enroll
This helps you identify patterns in your leads. Whether it's price or skepticism, the bottom line is that people who really want or need what you have will somehow find the money. Knowing what the different reasons for why people don't enroll after listening to your presentation helps you to find ways of showing them how to solve their problems.
The Numbers Of Hours Spent On Your Business
For this one, only track your hours of prospecting. Do not include trainings, or anything else. We all know proper marketing education should be ongoing, but the purpose of tracking data is to improve your results. Results improve when you make changes to the activities that bring you money. Track the number of hours both daily and weekly.
Profit And Loss Statement
This is where I saw the results that forced me to make the most changes. Your numbers are based on habits, action, lead quality, etc. and they dictate if you are in a profit range. Track all of your money going out and money coming in every week. If you aren't in a profit range after three months of working a plan, it's time to find another plan.
Be absolutely focused on your activities and be accountable for your actions. No one else is going to look out for you and your home-based business. Don’t do anything in advertising that you can’t track statistically, and don’t blame others for your problems. If you track your data, you will have a clear picture of how well something your business activites are working.
William Winch is a Business Growth Specialist whose mission is helping people expand and explode their home-based businesses without breaking the bank. A former High School and College Business Educator and Counselor, he mentors from his home office in Rochester, NY. If you are interested in learning how to explode and expand your home-based business, you can contact William by visiting his website at http://www.thefreemlmpowerreport.com or by calling him directly at (585) 234-5283.