Breaking Up With Tracking: When Tracking Turns Toxic
How to Use Tracking as a Tool to Move Your Business Forward
In the world of service providers, tracking business data can fall into two extremes: some shy away from numbers and avoid tracking, while others become obsessed and track every little detail. There is a balance when it comes to tracking as a strategic tool without becoming overwhelmed by data. This episode explores the transformation of tracking from a potential trap that keeps one stuck to a tool for propelling a business forward.
Recognizing the Pitfalls of Over-Tracking and Under-Tracking
To begin, I share a personal experience of feeling overwhelmed and burnt out from excessive tracking in my health journey, leading to a realization that a similar approach was affecting my business. I discuss the common symptoms of over-tracking including spending excessive time on analytics, decision paralysis, feelings of overwhelm, inefficiency, and losing sight of long-term business goals. On the other hand, I emphasize the risks of under-tracking, which can result in feeling stuck, burnout, losing passion, inefficiencies, and potentially causing client dissatisfaction.
Identifying the Right KPIs for Your Business
To navigate the pitfalls of over-tracking and under-tracking, I suggest an approach focused on tracking the most relevant Key Performance Indicators (KPIs). For service-based businesses, the recommended KPIs include tracking revenue, sales calls, outreach efforts, and client retention. This selective focus allows service providers to streamline their tracking efforts and avoid getting bogged down by unnecessary data points. By focusing attention on these critical KPIs, businesses can gain valuable insights without becoming overwhelmed by excessive data.
Strategic Implementation of KPI Tracking
After determining the essential KPIs for the business, the next step is to establish a clear tracking system. I emphasize the need for a simple and practical tracking process and suggest various methods such as using a CRM, spreadsheets, or other tracking tools. Additionally, I stress the importance of setting specific goals, creating a regular review schedule, and monitoring the selected KPIs at appropriate intervals. By implementing a clear and focused tracking system, business owners can maintain a healthy balance in their tracking efforts, and gain meaningful insights to drive their business forward.
Finding the Sweet Spot
Ultimately, the key to effective tracking lies in finding the “sweet spot” where businesses can harness the power of data without falling into the traps of over-analysis or negligence. By focusing on the right KPIs, creating a practical tracking system, and setting clear goals, service providers can optimize their tracking efforts while avoiding burnout and overwhelm. This intentional approach to tracking empowers businesses to make informed decisions, identify areas for improvement, and drive growth without being bogged down by unnecessary or excessive data.
Conclusion
In conclusion, this week’s podcast episode provides valuable insights on leveraging tracking as a strategic tool for business success. By recognizing the pitfalls of over-tracking and under-tracking and identifying the most relevant KPIs, service providers can develop a focused tracking strategy. Implementing this strategy with clear goals and a practical tracking system allows businesses to find their “sweet spot” in tracking, ensuring that they derive valuable insights without becoming overwhelmed. This approach empowers businesses to make informed decisions and drive growth, ultimately leading to sustained success in the service industry.
Here’s A Glance Of The Episode:
00:00 Balancing tracking for business efficiency without overwhelm.
05:47 Struggled with tracking in personal life, seeks balance, health coach help.
08:55 Balancing tracking in business for better results.
10:58 Excessive data tracking leads to decision paralysis.
15:29 Over-reliance on data leads to inefficiency.
16:28 Tips for KPIs and tracking strategy in business.
20:20 Track outreach, sales calls, clients, retention. Set clear goals, relevant KPIs, efficient tracking system.
Key Takeaways:
- Service providers often fall into two categories: either they shy away from numbers and avoid tracking, or they become obsessed with tracking every detail.
- Effective tracking can maximize efficiency in a business without causing burnout or overwhelm.
- Over-tracking can lead to spending excessive time on analytics, decision paralysis, feeling overwhelmed, inefficiency, and losing sight of business goals.
- Key performance indicators (KPIs) that service-based businesses should focus on include revenue goals, number of sales/discovery calls, outreach efforts, and client retention.
- Regular tracking of KPIs is essential, with outreach and sales call tracking on a weekly basis and client acquisition and revenue tracking on a monthly basis.
- Personal experience with over-tracking in health-related activities led to burnout and feeling overwhelmed, which can be mirrored in business tracking.
- It’s crucial to identify the right KPIs for a business and implement a focused tracking strategy to avoid burnout and achieve goals, while businesses should also set clear revenue and client acquisition goals to guide the tracking process.
- A tracking system that is focused, consistent, and centered on the most relevant KPIs, and not filled with excessive data points, is needed to monitor KPIs, with regular reviews scheduled to assess progress and make informed decisions.
and so much more.
Loved This Episode? Check Out More Here. ⬇️
CLICK HERE TO LEARN ABOUT THE BEST TOOLS TO SIMPLIFY YOUR BUSINESS
Additional Resources
Resource for my ad managers… The Ad Manager Advantage Secret Podcast
In this 10-episode secret podcast, created specifically for Meta ad managers and aspiring ad managers, I’ll be sharing insights, stories, and strategies for your business success.
With actionable tips and expert advice, this podcast will provide you with the tools you need to take your ad management business to the next level. CLICK HERE TO SUBSCRIBE TODAY
** This post may contain affiliate links which means I may receive a small commission at no additional cost to you if you use one of the links to purchase. This helps keep the podcast going and I only share products I have used, tested and love.”
Listen on Your Favorite Podcast Platform
Follow & Review on Apple Podcasts
Are you following my podcast? If you’re not, I want to encourage you to do that today so you don’t miss any future episodes! I already have so many amazing guests and topics lined up, I would hate for you to miss a single one! Click here to follow on Apple Podcasts
Could I ask a big favor? If you are loving the podcast, I would LOVE it if you would leave me a review on Apple Podcasts. I read each and every review. Plus, you get to pay it forward because it will allow other service providers like you to find the podcast! Wondering how to leave a review? Click here to review, then select “Ratings and Reviews” and “Write a Review”. So easy and so appreciated!
Meet Brandi
Brandi Mowles is the host of the Serve Scale Soar® podcast which is a podcast dedicated to helping service-based entrepreneurs scale their online business to five-figure months so they can soar into six-figure years. Brandi is a wife, mom and in less than one year, created a six-figure business. Now she is spilling all her secrets so you can too.
