Top tips to leverage numerical data to fulfill your business goals
“Track your number regularly to understand your business better. See where it is heading and get an idea of the pitfalls and challenges to fill the gaps to have a better grip on your business.” - Malay DamaniaDo you track your business numbers regularly, or is it something that only happens annually? In this episode, the host, Malay Damania, explains why it is crucial to track your business numbers weekly, fortnightly or at least monthly. Key TakeawaysTracking your numbers regularly can help you to:Reassess your goals as you can check whether you are on track or if there is a gap that you might have to fill to reach your goalIf you find a gap, review your strategy and make adjustments accordingly. Increase the pace of your business based on the gap. Make a comparison of numbers as it will help you to get a better idea of the current scenario of your business: -Compare your past number with current ones -Compare your number with competitors -Compare your numbers with industry standards and the current economic conditionCheck various ratios like: -Expense to Sales -Working Capital Ratios -Motivate your team based on the numbers, as ultimately, they are the critical factor for you achieving your goalsThe host explains that if you have an annual goal, you will have to track your progress monthly, as only then will you understand whether you are on track or off track. You can constantly adjust to fill the gap if you are off track.Listen to the entire episode to know which numbers to track and how to ensure that you achieve your goals. Buy Malay’s book - Business ChampMalay Damania conducts business mentoring and coaching sessions to help small and medium business owners, startup founders, entrepreneurs, and CEOs to get past their stagnancy in business to move into a growth trajectory.Book Free Consultation with MalayConnect with Malay at:Website - www.malaydamania.comLinkedin - https://www.linkedin.com/in/malay-damania-23285717Instagram - https://www.instagram.com/malaydamania/Email - malay@malaydamania.com**This show is produced and managed by Done For You Podcasts, full-service podcast launch and...
