What business compass do you use? – Part 1
Years ago, when I had my first business, I was always working hard. I was always looking to come up with better strategies to advance my business.
I did get it to expand quite fast, but then it would hit a ceiling. Some months at the end of the month I would be sitting late at night trying to figure out how exactly I was going to cover all my expenses. Some months were great and I would have more than enough.
It was a constant up and down battle. It also left me with the problem of not being sure if I could spend excess money on things to expand the business, as I had no way to predict if the next month would be better or worse.
I was frustrated and felt like I had no compass to steer by…
Then I discovered the magic of statistics! It changed EVERYTHING. By using these I could predict, and even influence, my expansion directly despite external factors!!
But what statistics should you track and how do you use them? Stay tuned for the next article, where I will be delving into my discoveries.