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What you focus on grows

We’re here to create wildly successful and abundant mission-driven businesses.

Creating a long-term vision for your business, then assigning and tracking the metrics that matter most is the best way to make that vision a reality.

A focus on LT vision is one of the foundational principles here at SYG. I am a firm believer that without clarity on where you want to go in business, it’s too easy to veer in a direction towards a result you don’t really actually want.

In this video, you’re about to learn how to set and track the 6 key metrics of mission-driven and thriving CEOs for your particular business.

This is incredibly important.

Many people limit themselves by measuring their business success only by what’s on their income statement or bank statement. And while those metrics are of course important, they’re not enough.

Focusing just on your financial metrics will have you making decisions that can actually throttle how much money and impact you can make over the long term.

And that may be exactly what you’re doing right now so let’s dive in!

Watch the video or scroll down for the text version if you prefer to read.

Download your metrics tracking quick-start guide by >> clicking here <<

I’m about to share the three-dimensional view to setting and tracking metrics.

Michael Hyatt said “You can’t improve what you don’t measure.”  and I agree.

Many of the things we want to improve don’t come in a standard accountant report.

Especially things that tie to making a bigger difference through your work which I know is what you’re here to do.

So let’s help you focus on those things that will make the biggest difference to the most amount of people in the most meaningful way.

We will cover metrics in the areas of:

  1. Direct Impact
  2. Financial Abundance
  3. Paying it Forward

Combined Focus in these three areas will serve as your lighthouse to your abundant mission-driven business.  

You want to grab a paper and pen or open your note app because I’ll share exactly what these metrics are and how to implement and track each one. You can also download the quick-start guide and a printable pdf of the six metrics at scaledgenius.com/benchmarks and you should see the clickable link wherever you’re watching this video.

Download your metrics tracking quick-start guide by >> clicking here <<

Direct Impact

As a mission-driven CEO, you’re here to make a difference and that’s exactly where we start.

Number of Clients Served

This one is obvious. The more people you help, the more impact you make.

How to track it

Tracking this one is straightforward and only involves simple addition. It is the number of paid clients that work with you. One person equals one entry no matter how much money they spent or how long they work with you. You count them the day they pay you first.

You will track this on a running total basis – continually adding to the number. You can also track this on a monthly or annual basis and watch the time over time numbers grow if you implement a scalable business model.

How to use it?

I love having this number front and center in front of my computer. You can’t see it, but it’s right here. I use a small whiteboard and continually update the number as new people enroll.

It’s fun, it feels good, it motivates me to keep on trucking on those days that may not feel so good.

I recommend setting goals around this number.

How many people do you want to help in 2022? Then at your  year-end review, compare your performance to your goal.

Fell short? Is it because you got distracted along the way and lose sight of this metic?

Or maybe you just have a business model that’s not scalable and it would take up too much of your time to work with more people?

Beat your goal? Awesome, reflect on why that happened and what you can take forward with you.

Let this metric drive self-reflection and guide you to how you want your business to perform in this area and what actions will get you there most effectively.

Client Satisfaction Score

This metric acts as an important counter-balance to the benchmark above.

The number of clients alone can cause an over-focus on what I call a ‘churn and burn’ model. Shiny marketing, high volume, minimal impact.

It can be easy to fall prey to quick growth and braggable numbers so this metric is here to ground us in service and our mission of true impact.

How to track it

There are many ways to measure what clients think about working with us. Net Promoter Score is popular because it’s simple to administer and has statistical backing.

The metric I like even more is what I call the Perceived Value Score.

It is a rating on a scale of 1-5 that answers the following:

How did your experience in this program compare to your expectations?

This has two critical components:

  • It gives an insight into value as your client perceives it
  • It’s actionable

I find that asking this question 6 weeks in, at completion, then 6 months after completion will provide the most valuable data.

Be consistent in the timings of this task so that you can compare these values over time.

How to use it

One of the brilliant things about this particular metric is that it’s instantly actionable. No, you don’t need to panic-act any time a client submits a rating that’s below your expectation.

Be truthful, yet compassionate with yourself, and don’t take every bad rating to heart. Someone’s bad day or negative attitude could translate to a bad rating.

What you’re looking for are common threads, patterns, and constructive feedback.

When you see patterns or trends that are not aligned with your professional reputation, look into whether the marketing or the delivery needs to be tweaked. Usually, it’s a combination of both.  Don’t be afraid to reach out to those who submitted less-than-stellar ratings to gather more information. And to make things right, if appropriate.

What’s more likely? If you stick with us and follow our guidance on effective offer creation,  you’ll be seeing an inflow of raving-fan reviews that you get to celebrate over and over!

Financial Abundance

Impact is important. But as business owners, we’re here to create more. We are here to act as conduits of abundance and to give from the overflow. Being handsomely compensated for the value we bring is a critical part of the equation.

EBITDA

This important financial benchmark stands for Earnings Before Interest, Taxes, Depreciation, and Amortization.

It gives insight into the financial health of your operations and is easily calculated by your accountant, bookkeeper, or even a simple spreadsheet.

How to track it

Ask your financial professional to provide this for you or calculate in on your own based on this definition from Investopedia.

Track these metrics on a monthly, quarterly, and annual basis and their changes over time.

Depending on your business model, the monthly figures can fluctuate quite a bit so focus more on the longer-term numbers. If those fluctuations bother you, then implement a diversified income stream model to flatten out the bumps. Our strategic ecosystem program is a good first step in that direction.

How to use it

Set specific goals for monthly, quarterly, and annual EBITDA then track actual performance as it compares to goals.

When you beat your goals – take a moment to celebrate. Reflect on why you beat your goals and what lessons you can take forward.

Ask yourself if you want to repeat a strong growth period or if you want to coast a bit. Some of your most powerful ideas will come during downtime, propelling future growth even more.

If you didn’t meet your goals, then sit down with a knowledgeable coach, consultant, or strategist to figure out what held you back and what you can do differently. Our Optimize Program may be a good fit if this is you.

Return on Invested Capital

As a business owner, you need to use your time and your money wisely – investing it so that it works for you over time rather than depleting it into wasteful spending and unnecessary time sucks.

I recommend that you track your return on investment of your time and your return on the investment of your money.

Each is a form of capital that you invest now for greater returns later.

Tracking this at a project-level basis will help you easily make the best decision on what to invest your time and money in and will help you sharpen these important CEO skills over time.

How to track it

This is better tracked on a project-level basis rather than business-wide.

Divide the net output by the input.

For example, if you invested $5k (input) and made $15k (output) as a result, your return is (15-5)/5 = 10/5 = 2 = 200% Return on Investment (ROI)

You can use the exact same math for time! Let’s say it took you 5 hours to train an assistant that saved you 15 hours over the time period. It’s the exact same calculation!

(15-5)/5 = 10/5 = 2 = 200% Return on Investment (ROI)

Make an assumption when starting a project. Calculate actuals at a specified point in time after. For new initiatives like online courses, a good time frame to use for calculating outputs is the 12 months following launch.

How to use it

Use it to decide what projects to focus on. Compare their ROIs then proceed with the highest expected return.

When the return on time and return on money vary widely (as they often will), you can weigh them according to your current life circumstances. Do you desire more time to play? Or are you willing to hustle to save some dough? No right or wrong answer here, just one that’s best made with data and intention.

Over time, you will compare your assumptions with actual results so that your predictions get better and better.

Using this metric will sharpen your CEO decision-making and investing skills so that every project you touch will create handsome returns of both time and money. 

In our Strategic Ecosystem Blueprint program, we help you calculate the ROIs of programs and offers so that your decisions are made with long-term sustainability and high ROI.

Download your metrics tracking quick-start guide by >> clicking here <<

Pay It Forward

When you act as the conduit rather than the keeper of abundance, it magnifies for all involved.

Money Paid to Other Businesses

Tracking how much you paid to other businesses in an effort to INCREASE rather than minimize this number may send some  ‘lean business’ types into a tizzy.

I’m not advocating reckless spending but rather investing to create returns. In addition to returns of time and money, I’m going to throw another one – joy!

When you thoughtfully pay another business you typically get more time, more money, or more joy out of it.

To pay more, you need to make more, so you’ll be more inspired to grow your business.

Setting uncomfortable spending goals can be a doorway to more abundance as giving creates more room for receiving which snowballs over time into more abundance than you ever imagined possible.

How to track it

You can track this for business expenses only. In which case, it’s a straightforward number that can be easily pulled out of your income statement.

You can include ALL of your spending in this calculation if you desire. Every cent you spend enters the flow of someone else’s abundance so it all counts in the big picture.

I recommend tracking it two ways:

  1. A running total
  2. As a percent of your revenue

How to use it

Celebrate the running total as it is your way of being a conduit rather than a keeper of abundance!

For the second metric, set a percentage goal then increase it as your income grows and you learn to have more comfort with investing in yourself and your business. If you tend to be an over-spender, this second metric can help you get to a place that feels safe yet abundant.

One more time for the people in the back: this is NOT a call for reckless spending but rather a permission slip to invest in filling your cup so that you can give from the overflow.   

Download your metrics tracking quick-start guide by >> clicking here <<

Money Paid to Charitable Causes

Our final metric is also my favorite. This is one of my key drivers to get out of my comfort zone and grow my business to where generous giving happens from the overflow that my business generates.

From your kid’s school bake sale to generous multi-year funding commitments, the impact and abundance you create through your business is magnified when you give it forward.

How to track it

Another simple number. I like to track this on an annual as well as a running total basis.

How to use it

  1. Celebrate every time you give money! Tune into how good it feels to be able to make this kind of impact through the abundance your business brings in.
  2. Set giving goals and then exceed them! 10% of EBITDA is a starting point. Once you’re comfortable with that, keep increasing until you reach your personal limit. Then sometime later, increase it again!

So there you have it. The six key benchmarks mission-driven and abundant CEOs use to drive decision-making.

When you set goals and track performance from this 3D perspective, the abundance you create, the impact you make, and what you’re able to pay forward magnifies exponentially and that thriving business and a mission-driven, abundant life becomes your reality.

If you haven’t yet, grab your quick-start guide and printable pdf of the metrics at scaledgenius.com/benchmarks

If you want to come to hang out with other mission-driven and abundant CEOs, I invite you to our Facebook community The Genius Tribe.

And if you loved this video and blog post, please like it, leave us a comment, and share it with your network!