Excerpt from the book “The Solopreneur’s Success Strategy: Use Metrics to Know What Works“
Ultimately, the purpose of your entire business is to make a profit and to allow you to do your work. Therefore, every action you take in your business should have some positive impact on profit either directly or indirectly. I advise the business owners I work with not to do anything within their business without knowing the purpose for it. Even the most basic of things should have a defined and preferably measurable purpose.
The things you do in your business can impact your profit directly or indirectly. Examples of directly impacting profits would be things that either create sales or decrease expenses directly. Indirect examples would include things like expanding your reach. For example, you may build a social media following or attend live events with the goal of meeting new people. You may not expect to sell to them right away, or even soon, but you may meet people who are interested in what you have to sell or who can introduce you to people who may be interested in what you have to sell. So while building your reach may not directly contributing to profit it does indirectly contribute by giving you the chance to make more sales.
Don’t take for granted that you “have to” do anything. Even something as basic as having a website should have a definitive purpose. Why does your site exist? Is it to sell things directly? Is it to serve as an online version of a brochure and answer questions? Is it to collect contact information so you can follow up? Is it to educate people so they can make an
informed choice about your product? There are so many reasons to have a website that they could probably fill a book by themselves. Yet, so many people have no idea why they actually have a website or how it will make them a profit. It’s just become an unquestioned “given” that you have a website and so people don’t actually think about why they have one or what it
can do for them.
It’s almost impossible to know what will work in your business the first time you try something. The only way to know what works is to know why you are doing each thing in your business and measure your results.
In my book “The Solopreneur’s Success Strategy: Use Metrics to Know What Works,” I teach how to get started with metrics for your business so you can get better results and save time. The book comes with a downloadable metrics starter kit to get you started even faster. Click the link below to check out the book and grab your copy!
The Solopreneur’s Success Strategy: Use Metrics to Know What Works
