"If you don't keep track of your numbers, you're going to get to a point in your business where you want to grow and expand, and you won't be able to." - Michelle Hagen
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What if knowing 3 numbers in your business could grow your sales, income, and business? In today's episode I have the honor of being interviewed by Stephanie Bagley from The Dream Makers Podcast. We discuss the 3 crucial numbers that all business owners need to know to grow your business and increase your sales!
1. How many people did your offer get in front of?
- How many people heard you pitch your product? How many people viewed your post on
social media?
2. What is your conversion rate?
- Take the number of people who purchased your product divided by the number of people in
question #1, the number of people your offer got in front of.
- For example, if your offer got in front of 100 people and 20 of those people bought your
product or service, that would give you a 20% conversion rate.
3. How many people do you need to hit your goal?
- First, determine what your sales goal is going to be. Then take your sales goal divided by
your product cost to get the number of sales you need to reach your goal. Next, take your
number of sales needed and divide it by your number from question #2, your conversion
rate, to see how many people you need to see or hear your offer.
- For example, if you want to hit $150,000 in total sales, your product costs $500, and your
conversion rate is 26% (This number varies and may be lower depending on your industry).
Take $150,000 / $500 = 300, so you will need to sell 300 of your products in order to
reach your goal. Then take 300 / .26 = 1,154. 1,154 is the number of people who need
to see your offer in order to make 300 sales. Break that number down further and you only
need to get in front of 96 people per month or 22 people per week, which is only 3.2
people per day! That is totally doable! You got this!
Check out my free guide HERE to help you master these 3 crucial numbers in your business!
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Connect With Michelle Hagen:
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- You can do this mama, in the middle of motherhood no matter how busy the years get! -
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