3 Years ago I did everything for my first company, LIFT Enrichment, including lead the weekly Leadership meetings, do most of the sales calls and stay involved in all of the day-to-day scheduling with clients.
Now things are different: I meet with our president a few times a month, once for a Finance meeting and another meeting more focused on the operations and sales. It’s about 4-6 hours in total. I also attend the Leadership meeting for 90 minutes once a month. In total, it’s about 8 hours and the business has grown 10x since March 2023.
Besides having a great Leadership team (and team below them), I run the company and check a few numbers regularly.
Here are the 10 key numbers I look at from the past month:
- Revenue
- COGS (aka Cost of Goods Sold which is Direct Labor + Direct Cost)
- Net Profit
- First Time Appointments (aka a sales meeting with a new prospect)
- Signed Clients Total
- Proposals Total
- Invoices Overdue (aka Accounts Receivable)
- Sites Unstaffed in the next 30 days
- NPS Score (Net Promotor Score aka how our clients rated us)
- Workshops Completed Successfully Percentage
For Revenue, COGS and Net Profit I also look at the Trailing 12 months.
I put those 10 numbers in a google sheet (everything in my life is run off of google sheets, it’s my super power).
Then I review them and put them in green if they are on track and red if they are off track.
If a number is off track 2 months in a row, there’s something to fix.
I like numbers because they tell the truth.
For example:
– Our goal for our NPS score is to average above an 8/10 overall, and usually we’re at a 9 or 10 across all clients
– Our goal for COGS is 25% and we usually hit it.
– Our goal for Net Profit Percentage is above 50%…and we are good at hitting that
– Our goal for First Time Appointments is 30 per month, and last month we were at 63, and 55 before that
– Our goal for Workshops Completed Successfully is 96% and we’re usually around 97 or 98
– Our goal for Invoices Overdue is $400,000 and last month we were at $720,440, but the month before that was $0 and $231,000 before that. The average across the 3 is fine and not a big deal.
– Our goal for Sites Unstaffed in the next 30 days is less than 15, and we were at 14 and 13 recently
– Our goal for Singed Clients is $11,000,000 for the year and we’re above $8,000,000, so it’s on track (our school year is Sep-Aug)
All businesses run off of just 10 key metrics.
My new company, Clinic Assist, helps Dubai clinics grow their practice, and a key part of that is installing the 10 key metrics to track and focus on every month.
If you are a clinic and want to get a Free “1 Million AED Clinic Assist Consultation” where I will show you a path to add more revenue to your clinic, book a 10-minute consultation with our team to see how we can help your practice grow.