One Simple Habit That Will Increase Business Growth & Profits in Just 15 MINUTES a Month

One Simple Habit That Will Increase Business Growth & Profits in Just 15 MINUTES a Month

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One Simple Habit That Will Increase Business Growth & Profits in Just 15 MINUTES a Month

A date is just a date.

But we humans have put a lot of importance into the 31st December/1st January.

We use this as a milestone and a marker, as a time to stop and reflect and look back on the last 12 months that have been.

But, I personally make a habit of looking at the last 12 months that have been at the end of EVERY month.

I don’t wait until the 1st January to do this reflective exercise, and neither should you.

TIP:
Put into your calendars a recurring appointment on the 30th of every single month for ‘reflection/review/analysis time’.

Use it in the same way that you would reflect on your business, yourself, your life, your health, your wealth, your relationships –  everything that you do at the end of every year, except don’t wait for each year to do it.

Now, what I do in that time is I look at that month’s accounts,
I look at how much money have I earned and,
how much money has gone out,
have I made any profit,
I look at which products and services made me the most amount of money.

Think the Pareto 80/20 rule:

80% of your income comes from 20% of your customers,
80% of your income comes from 20% of your products and services.

Now, those products and services that are making you the most amount of money, and are repeatedly making you the most amount of money are your hero products.

Each month I study which one is making the most amount of money,
which is selling the easiest,
which means I need to be focusing on promoting that one more.

From there, I shift my marketing focus on the next month based on that hero product that is making the most amount of money for me.

I then go in and I look at things like my Google Search Console and Google Analytics for more data.

I look at which blog articles have bought me in the most amount of traffic this month, because that’s the blog article I’m now going to go and share more with the world.

That’s the blog article, I’m going to update.

That’s the blog article that I might do a workshop on this month, or I might do a free lead magnet on – because that seems to be the one that’s coming up the most in our Google search results.

Use this time to really reflect on what’s making you money, and what marketing is working.

And of course, consider the opposite.
What products are not selling?

Do I need to change the product?
Do I need to change my marketing?
Do I need to get rid of it?

Sometimes wiping the slate clean on a product is the process that we need to follow.

This exercise should only take you 15 minutes.

15-20 minutes to have a quick review, so that you’re making informed decisions about next month’s actions, and next month’s activities.

This is how 15mins a month can completely  transform your business in a year.