Sign up to save your podcasts
Or
Share 5 Numbers to Track in Business
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
5 Numbers to Track in Business
Shaz shares the numbers every business owner should be tracking.
These are the numbers that will make the difference to your business and how profitable it is.
You need to understand what your gross profit margin is, the cost per lead, how much it will cost to convert a lead to a customer along with the lifetime value of your customer.
When you have these numbers you know what’s working and what’s not so any changes are focused and about making the margins you want.
KEY TAKEAWAYS
- You need to look at the gross profit margins for all your products
- Cost per lead is a very important number but many businesses don’t know what this number is.
- How much does it cost to acquire a customer?
- How much does it cost to move a lead to a customer?
- Workout the lifetime worth of a customer
- How much is a customer worth to you?
- What is the lifetime value of a customer?
- Look at every item you sell and work out the gross and net profit
- Can you afford to discount any products to bring customers through the door so you can then sell them other products?
- What do you want the average value per year to be for each customer?
- If you track the numbers your profits will go up
BEST MOMENTS
‘What is the average value of each of your customers per year?’
‘There are numbers you must track as a business owner’
‘How can you extend the lifetime of a customer?’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
- YouTube.
View all episodes
By Shaz NawazShaz shares the numbers every business owner should be tracking.
These are the numbers that will make the difference to your business and how profitable it is.
You need to understand what your gross profit margin is, the cost per lead, how much it will cost to convert a lead to a customer along with the lifetime value of your customer.
When you have these numbers you know what’s working and what’s not so any changes are focused and about making the margins you want.
KEY TAKEAWAYS
- You need to look at the gross profit margins for all your products
- Cost per lead is a very important number but many businesses don’t know what this number is.
- How much does it cost to acquire a customer?
- How much does it cost to move a lead to a customer?
- Workout the lifetime worth of a customer
- How much is a customer worth to you?
- What is the lifetime value of a customer?
- Look at every item you sell and work out the gross and net profit
- Can you afford to discount any products to bring customers through the door so you can then sell them other products?
- What do you want the average value per year to be for each customer?
- If you track the numbers your profits will go up
BEST MOMENTS
‘What is the average value of each of your customers per year?’
‘There are numbers you must track as a business owner’
‘How can you extend the lifetime of a customer?’
VALUABLE RESOURCES
ABOUT THE HOST
Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.
Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.
He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.
You can find Shaz on:
- YouTube.
More shows like Wealth Made Simple Podcast
View all
The Progressive Property Podcast
6 Listeners
Leveraged Lifestyle Podcast
4 Listeners
Property Sourcing Profits Podcast
1 Listeners