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Top tips to leverage numerical data to fulfill your business goals
Episode 1923rd December 2022 • Business Veda • Malay Damania
00:00:00 00:13:10

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“Track your number regularly to understand your business better. See where it is heading and get an idea of the pitfalls and challenges to fill the gaps to have a better grip on your business.” - Malay Damania

Do you track your business numbers regularly, or is it something that only happens annually? 

In this episode, the host, Malay Damania, explains why it is crucial to track your business numbers weekly, fortnightly or at least monthly. 

Key Takeaways

Tracking your numbers regularly can help you to:

  • Reassess your goals as you can check whether you are on track or if there is a gap that you might have to fill to reach your goal
  • If you find a gap, review your strategy and make adjustments accordingly. Increase the pace of your business based on the gap. 
  • Make a comparison of numbers as it will help you to get a better idea of the current scenario of your business:

            -Compare your past number with current ones

            -Compare your number with competitors

            -Compare your numbers with industry standards and the current economic condition

  • Check various ratios like:

            -Expense to Sales

            -Working Capital Ratios

           -Motivate your team based on the numbers, as ultimately, they are the critical factor for you achieving your goals

The host explains that if you have an annual goal, you will have to track your progress monthly, as only then will you understand whether you are on track or off track. You can constantly adjust to fill the gap if you are off track.

Listen to the entire episode to know which numbers to track and how to ensure that you achieve your goals. 

Buy Malay’s book - Business Champ

Malay Damania conducts business mentoring and coaching sessions to help small and medium business owners, startup founders, entrepreneurs, and CEOs to get past their stagnancy in business to move into a growth trajectory.

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**This show is produced and managed by Done For You Podcasts, full-service podcast launch and management company**