Do You Know Your Numbers?

Large corporations know their numbers but I bet most small businesses don’t know theirs. I know it’s not my strong suit but I’m glad I found out what my numbers were. What I mean by “knowing your numbers,” is knowing how many leads you must get if you’re a salesman, how many potential customers must walkthrough your store if you own a shop or how many people you must add to your network if you’re a consultant. These numbers are extremely important to the success of any company. As a young entrepreneur, I thought in terms of sales instead of thinking in terms of what leads to my sales. Before I realized it, my sales were dwindling because I was focusing on the wrong things. If you are trying to achieve a goal, find your number by playing the law of averages. The law says that one person in ten will say “yes” to what you’re offering so if you want ten more clients this year, plan on shaking hands with at least 100 new faces. One success for every nine failures sounds bad, but it could be worse.

"I have not failed. I've just found 10,000 ways that won't work." - Thomas Edison