Have you been tracking down how much money is flowing in and out of your business? When you start a new budget, track how much you’re spending and where you’re spending it. This method is the only real way to capture whether or not your process is giving you results.
Daily Reminders In Calendar For Sales Tracking
Make sure to mark in your calendar to track daily sale transactions into an excel spreadsheet. If you’re not sure how to use excel, there are many other programs or apps that are user friendly. This will help manage your daily sales that will provide the business with data. The data that is collected will be used to create monthly reports using graphs, regression and other tools. It’s hard seeing numbers all over the place but when there is an actual visual of what your overview looks like, then it will give you a better understanding of what’s really going on. Make it a habit to post your transactions everyday because the end result will be rewarding.
Determine Key Selling Activities
If you’re doing online marketing for real estate or lending, see what ad campaigns are producing the most traffic and conversions. It’s important to track which ads are doing the best because you can then remove the ones that are not as effective. Each ad campaign ran costs money so it would be smart to track it daily because the data that you track will provide endless amount resources to your business.
Preparing Your Monthly Reports
The monthly reports should consist of any transaction being made or spent towards the business. That can be marketing materials used to send out mailers or from running ads online of your listings. Bigger transactions that should also be implemented in the monthly reports are the amount of commission you made either as a listing or buyers agents. After a few months of inputting your data in a spreadsheet, it’s time to see the results.
Hopefully the amount of time and money invested into your business becomes profitable. If you’re not tracking your daily sales, it’s pretty difficult to have an understanding if you’re making or losing money.
Are you interested in a FREE Business Audit with Alex Caragiannides directly where he can analyze your current strategies and make suggestions on what tactics to focus on to increase the number of transactions you close on a monthly and yearly basis? Get started below.