Track and measure these 3 numbers
When setting your goals each quarter, it's essential to focus on three key sets of metrics to ensure your business thrives. By zeroing in on consultations, contracts, and connections, you can create a robust framework that drives growth and success. Here’s why and how these metrics should be an integral part of your strategy.
The Power Trio of Metrics
Consultations:
The Backbone of Success: Consultations are the most crucial metric. They represent your listing appointments and the potential to convert leads into clients. Setting clear targets for consultations helps you gauge the health of your sales pipeline and forecast future business. Aim to increase the number of consultations each quarter to ensure a steady flow of opportunities.
Contracts:
Closing Deals: Contracts are the next vital metric to monitor. These include your targets for how many deals you plan to close and how many you aim to have pending. By setting specific goals for contracts, you can better manage your workload and revenue expectations. This metric directly reflects your business’s ability to convert consultations into completed sales, highlighting the efficiency and effectiveness of your sales process.
Connections:
Growing Your Network: Connections refer to the size of your database, encompassing potential leads, past clients, and new prospects. It's important to track the current size of your database and set ambitious yet achievable targets for its growth over the next 90 days. Expanding your connections ensures a larger pool of opportunities and a stronger foundation for future business.
Implementing a Goal-Driven Strategy
Setting and Achieving Targets:
Define Clear Goals:Start by setting specific, measurable targets for each metric. For consultations, determine how many listing appointments you aim to secure. For contracts, outline the number of deals you plan to close and have pending. For connections, set a target for the growth of your database.
Monitor Progress: Regularly track your progress against these targets. Use tools and software that help you monitor consultations, contracts, and connections in real-time. Adjust your strategies as needed to stay on track.
Analyze and Optimize: Analyze the data to identify trends and areas for improvement. If consultations are not converting to contracts as expected, evaluate your sales pitch and follow-up process. If your connections are not growing, revisit your lead generation strategies.
Review Quarterly: At the end of each quarter, review your performance. Celebrate your successes and learn from any shortfalls. Use these insights to refine your goals and strategies for the next quarter.
The Bottom Line
Focusing on consultations, contracts, and connections provides a comprehensive view of your business health and growth potential. By setting clear targets and consistently monitoring these metrics, you can create a sustainable and scalable business model. Embrace this goal-driven approach to unlock your business’s full potential and ensure continued success in a competitive market.