What I Mean When I Say ‘Money Loves Attention’
Money loves attention.
I’ve been teaching this rule since I started Revenue Breakthrough in 2005. Now, the fact is that most entrepreneurs tend to avoid looking at their numbers. Even if you have a bookkeeper, it’s likely that you avoid looking at the reports that she sends you.
We’re afraid that if we look at our numbers, we’ll create feelings of disappointment, shame, and distress. And here’s the truth: looking at your numbers could create distress if you allow it to.
But instead of looking at your numbers and thinking, Ugh, this is because I didn’t do enough, or This is what I should have done – try looking at your numbers as information.
When you go to the doctor, she looks at certain numbers that measure the different aspects of your health – and she uses those numbers to assess your overall health.
In the same way, we as business owners need to use our numbers to determine the health of our businesses.
We’re always hoping and praying that our businesses are doing well, but often we’re not actually assessing based on the cold, hard numbers.
So my invitation to you this week is to start to monitor the health of your business. Choose four numbers that you’re going to look at every single week.
These four numbers could be anything from the total membership of your Facebook group to your revenue. It’s totally up to you, but I’m going to suggest four numbers that I think a lot of business owners should be tracking.
- How many sales conversations did you have this week?
- How many people did you get in front of this week?
- How many new clients did you get this week?
- What was your conversion rate (this should look like a fraction or ratio – in other words, of the sales conversations that you had, how many people turned into clients)?
Once you’ve decided which four numbers you’re going to track each week, get consistent with tracking so that you can really gauge the overall health of how your business is doing.
If you want some support in keeping track of these numbers, I invite you to check out my Breakthrough Planner. The Breakthrough Planner has a section called the Business Dashboard with space for you to record those four numbers each and every week.
The planner’s only $32, and you can check it out at BreakthroughPlanners.com.
Now, this is just the beginning of understanding money, right? Money loves attention, but there’s so much more to understanding how your relationship with money can create consistent cash flow and money momentum in your business.
I’m going to be talking about all of my best practices for creating Money Momentum in your business in my More Money Lab program.
The cart closes on my More Money Lab program, January 26, and it’s only $77.
I’d love for you to join us in stepping into a complete understanding of money and making sure that you know exactly what to do to keep that bank account full – this year and far beyond.
