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23 - What Are Your KPI's

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What Are Your KPI's

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Are you curious what Russell’s doing today to double his business? If so, listen to this episode and copy exactly what he’s doing.

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Best Quote:

One of the things that I've noticed in my business is when I have something that I'm tracking and I'm looking at, and I'm watching the numbers on, it tends to grow. When I just forget about them and I don't have those things, then it tends to not grow. I've always looked at things from month to month, our numbers and our profit and loss, stuff like that.

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Transcripts:

Hey everyone, this is Russell Brunson from DotComSecrets.com and this is the Marketing in Your Car podcast. Today, we're going to be talking about a thing called KPIs. In the theme of my podcast from yesterday, I know it was a short one, but just talking about taking stock of where you are in your life right now and making a whole new list of what you need to be happy, and then going and just getting it, and not letting anything get in your way.

I hope a lot of you guys took that to heart yesterday and did that. I know I'm having a ton of fun with mine today. I got a bunch of things on my list I'm doing today, just because I wanted to to be happy, and now I'm going to go do them. I hope you guys do the same thing as well. Today, what I want to talk about though is now tying that back into business a little bit and I want to tell you basically what I'm doing today. You guys should copy me because it's going to work and make me a lot of money.

One of the things that I've noticed in my business is when I have something that I'm tracking and I'm looking at, and I'm watching the numbers on, it tends to grow. When I just forget about them and I don't have those things, then it tends to not grow. I've always looked at things from month to month, our numbers and our profit and loss, stuff like that.

In fact, that's what the accountants were at my office yesterday showing us. They come once a month and go over all those things but recently, we hired these guys to do some traffic generation stuff for us. Every Friday, they send us what they call a Friday report. It shows us how many clicks, how much money was spent.

It shows a really detailed report of how many sales came in. It was really exciting to get that. I thought, “You know what? We have a lot of divisions in our company and a lot of different offers we're running, and things like that yet we never really, I don't have numbers like that in front of me all the time.”

What we decided to do and what our task for today is to kind of sit down and figure out what our KPIs are for each of our different sub-companies. A KPI is a key performance indicator. For example, in most of our businesses, the key performance indicators are similar. One of them we're looking at very heavily obviously is traffic, how much traffic are we getting in, from what source.

A KPI could be we need 500 visitors a day from search, 500 visitors a day from Facebook, whatever that number is. That's a key performance indicator. As soon as we started tracking that, then we can help improve it, making it go up and down.

Another one would be how many subscribers we get each day. Are we getting 100 a day, 1000 a day, 5000 a day, whatever it is? The next one is how many sales we're making, and not just random sales but what is the front end product we have. I don't know about you guys but we always have for each of our businesses, Dot Com Secrets X, Dot Com Secrets Local, Dot Com Secrets Second Up-line, Girlfriend in a Week, all of our websites, all of our properties, whatever you want to call them, they each have a front end product that we're trying to put people into. Usually for us, it's a dollar trial type product. That's one of our key performance indicators is how many dollar trials did we give away today. Is it 10, 100, 1000? That's a big thing we look at. That is a key performance indicator.

The next one is how many active members. If we have 3000 active members right now, or 2000, whatever that number is, and then how much we sold other back end products, those are the KPIs that we have for basically each of our companies. What I'm doing today is making a little template that basically has those KPIs, and each person in our office is in charge of different sections.

Basically each Friday, I'm going to have it where everyone on my team goes and puts together their Friday KPI reports and send them in. That way, we can see week by week how we're improving, what's going up, what's going down, and those types of things. That's what we're doing. I'm really excited for it. What I've noticed is that any time we track something, it tends to get bigger because we see it and our brain automatically starts thinking about, “Man, I got 100 visitors yesterday. How can I get 120 tomorrow? How can I get 150? How can I get 200?” Just the fact that we're tracking it, I guarantee we'll see numbers go up. I want to recommend the same thing for you guys. If you aren't tracking stuff yet like that, it's time to sit back and start looking at what those key performance indicators are in your business, and everyone's businesses are different.

Figure out what those things are, and then track them and plot them. Look at it so you can see day by day what's happening, has it gone up, has it gone down, and things like that. Another fun thing that you can start doing is after you do this for like a year or so, and we're doing this with our revenues, profit and losses and stuff, is looking year by year. Last May, we did X amount of dollars. This May, we did this amount of dollars. We increased from month to month, year by year which is fun. The biggest thing I think is having the tracking ability so you can see it and improve it every single day.

There is your homework assignment for today, you guys. Figure out your KPIs. Figure out your tracking system, and start watching those numbers because when you watch them, then they can improve. That's about it, you guys. I'm at the office today. I'm going to go start making some KPI sheets. It's going to be a ton of fun.

If you're enjoying this podcast, please tell other people. Go ahead and blog about it. I won't mind, or just go into iTunes and leave a review. I love seeing the reviews. It makes me happy. I would appreciate that. Thanks so much. We'll talk to you all soon.

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