In this quick video, I just want to give you a heads up on the five simple numbers you should be tracking and growing —increasing— every single month in your coaching business.
I’m not much of a numbers guy. And so, I want to preference this by saying there are no spreadsheets involved, you don’t have to enter tiny numbers into little cells. I’m not a numbers guy.
But I do believe in tracking stuff that matters.
And so, in Boardroom, we’ve got a really simple system that we call The Five Dials™.
Five simple numbers that we track every single month.
And when we get together, we report on the five dials and the projects. And we commit how we want it a little different when we come back in a few months’ time.
And so, what I want to do right now is to give you the five numbers that you want to be growing regularly.
So, imagine you’ve got a worksheet —a piece of paper done landscape. And along the top are five circles —five dials. And underneath is room for five projects.
And so, every time we get together in Boardroom, we track these five dials. What I want to do is help you know what these numbers are and track them.
These are the five numbers you ought to be tracking and growing every single time:
The first number that we track is the number of leads.
And by leads, what I mean is how many leads are you getting every single month?
And for you, a lead could be an e-mail address like an opt-in, or it could be a triage call —like, a sales call booked in. And so, whatever you choose to measure —whichever one’s most useful for you, comment below.
Would you track opt-ins or would you track sales appointments?
Whatever is most useful, just type that in right now. I don’t mind whatever you choose.
But that’s what you’re going to track every single month. Just once a month, you’re going to report in on your numbers. Okay? Number one: leads.
Number two, we’re going to track monthly revenue.
So, we’re going to track the number of leads per month, we’re going to track dollars per month.
So, the second dial we’re going to track is dollars per month; it’s gross sales per month. Right?
And so, in Boardroom, the qualification for being part of this accountability conversation is a million dollar a year which is about 85K a month.
Most of the guys in Boardroom are doing between $100,000 and $400,000; some are a little bit more, some maybe $90,000. But you want to track monthly revenue. Got that?
By the way, if you’d like a hand —if you’re already doing about a million dollars a year and you want to scale, then, send me a private message here on Facebook and I’d love to help you get a little bit of a plan—we can brainstorm.
So, number one, number of leads of per month. Number two, monthly revenue.
Number three, profit as a percentage, is the third measure that we track. And so, obviously, how much money your business brings in is fantastic. But I think someone wise once said that, “Revenue is vanity, profit is sanity.”
And so, the third metric is profit —what’s your margins as a percentage?
We’ve got a few clients who are doing a million dollars a year at a 90% margin with one to two VAs.
That’s doable when your business is super lean and in a hustle mode.
But most of the businesses, as they grow much past a million dollars —frankly, that’s not going to happen. Okay? So, next stop was profit as a percentage.
So, let’s just chuck that into our little dials here. So, we’ve got the number of leads per month, we’ve got monthly revenue, we’ve got profit margins as a percentage.
Days/weeks spent in Genius
The fourth one of our five dials is the percentage of your week; the number of days per week spent in genius. Right?
What’s your genius? It’s the thing that you are gifted at, that you’re incredible at, that frankly, you could do forever and never get bored; that you could learn about for a hundred million years.
You do it effortlessly and easily. You haven’t had to kind of learn it, you’ve been doing it since you were a kid, and it’s the thing that brings in the bucks. Right?
That thing as opposed to all the lesser mortal shit that you do.
So, what I want to know is how many days a week right now do you spend in genius?
Do you do two days a week? Three? Are you on like half a day a week and just bog down and kind of admin cram work? What’s your percentage of time spent in genius look like right now?
And so, instead of a percent, we just measure it in the number of days down to the nearest half day.
And the goal every single month is to increase the number of days spent in genius. Does that make sense? And then —so, that’s our fourth metric.
So, we got the number of leads, monthly revenue, percentage —margins as a percentage. Next, we’ve got the number of days or weeks spent in genius.
And finally, the number of free days. So, free days is the one that my high performing coaches struggle with the most, to be really candid.
And according to Dan Sullivan’s definition which is the one that we use, free days is a 24-hour period from midnight to midnight not thinking about work, not dreaming about work, not reading about work, not checking e-mail. Right?
It’s really hard. And so, the average number of days a month spent in genius for most of our clients is quite low —sorry, not in genius— our number of days per month free days is quite low.
I’ve got some who have like three days a month that they force themselves to get to take away. Some of them are really good at —eight weekends count —so long as it’s not thinking about or checking e-mails. Does that make sense?
So, there are our five dials. What we’ve got right now are —we’ve got the number of leads per month whether it’s sales calls or opt-ins; monthly revenue; profit margin as a percentage; the number of days spent in genius; and the number of free days per month. They’re the five dials that we track.
Every time we get together in Boardroom, we report. There’s a big fat scoreboard which has everybody’s name on one side, then the five dials along the top, and the five projects along the front. And we have peer accountability.
I don’t know if I’m living the dream because I’m barefoot on a beach —I’m home. I went to shoot a video, and this felt like a nice opportunity.
But, yes. So, here’s the thing right now. If you think about those five numbers, here’s your assignment; is to sketch up what they currently are.
And if you’d like some help brainstorming ways to make those numbers go up, what I’d love you to do is to —by the way, I’m going to issue this as a challenge. My hunch is that almost no one’s going to do this. Maybe one.
And whoever it is, I reckon they’re the one who’s going to be the most success— have the most successful 90 days. So, whatever your current numbers are, I want you to write them down in your five dials. Think about what your five projects could be, take a photo of it, and Facebook message it to me.
If you do that, I will hook you up with a little bit of help brainstorming how to make sure that you hit your numbers. So, just put in your current numbers.
So, here’s what we do; we kind of track our current numbers and then we decide what it would look like in 90 days. Right now, this —you got to do a baseline.
You need your early first numbers. Okay? So, do— if you write down what your current numbers are, what you think your goals are, take a photo, send it to me. Challenge accepted. Perfect. I dare you to do it.
Take good care, gang. This has been Taki Moore, out.
P.S. Whenever you’re ready… here are 4 ways I can help you grow your coaching business:
1. Grab a free copy of my book
It’s the roadmap to attracting prospects, signing clients, and scaling your coaching business. — Click Here
2. Join the Coach Dojo and connect with coaches who are scaling too
It’s our new Facebook community where smart coaches learn to get more income, impact, and independence. — Click Here
3. Join our Implementation Program and be a Case Study
I’m putting together a new coaching case study group at Black Belt this month… stay tuned for details. If you’d like to work with me on your client-getting and scale plans… just send me a message with the words “Case Study”. — Click Here
4. Work with me and my team privately
If you’d like to work directly with me and my team to take you from 6 to 7 figures… just send me a message with the word “Private”… tell me a little about your business and what you’d like to work on together, and I’ll get you all the details! — Click Here
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