Recently, I've been training my Rich Coach Mastermind clients to be a lot more focused in their business growth activities, by specifically measuring a couple of metrics.
There are only a handful of metrics that I ever look at and that actually matter when it comes to coaching business growth.
The first type of metric are called “lag measures”. These are all the big picture goals of your company that you want, but you can't control, by their very nature. By the time you can measure whether you've achieved these goals, it's too late to improve them.
For most coaches who are starting out, these three metrics are:
- Email list size
- Monthly income
- Number of clients (including 1-to-1 and group clients)
It's wise to have a target of where you want to be with these three metrics a year from now and to keep an eye on these 3 numbers at least every week.
The second group of metrics are called “Lead Measures”. These are things that you can actually directly influence and control day to day and week to week. I recommend you track
- The number of emails/ content pieces sent to your list per week
- The number of introductory coaching sessions booked per week
- Total revenue in sales from your intro sessions per week (i.e. the amount of money people committed to pay, not just the collected money).
A decent target might be 3-7 emails per week; 2-4 intro sessions per week; and $5,000 – $10,000 US dollars per week in total sales.
Naturally, you may be wondering how this will work for you if you don't have an email list yet.
That's true. If you're in a position where you don't yet have a consistently growing email list, I would add in a fourth measurement which is list building activities.
If you want to know exactly what those activities should be, then I recommend you go through the simple Never Ending Stream Of Clients system to achieve your monthly revenue, client sign up, and list size goals.
It's available at a huge discount, with a suite of special limited-time bonuses, right now: