5 Things You Need to Know About Money

One reason most experts know that goal setting requires specifics is that they also know that when you measure things and track things, you can then discover how to move those numbers in the direction you want them to go.

Want to build your list? State it in very specific numbers how big you want to grow it, how fast you want to grow it, and exactly the steps you’ll talk to accomplish it based on your research. Then track it. Analyze what you’ve tracked, adjust, continue, and repeat. As you track the effects of your actions, you can improve and correct.

One thing to start tracking right now is your income and expenses every single day. The great thing about this is that you can track using an old-fashioned spreadsheet, or you can even just use a small notebook that you keep with you. But you can also use fancy software like QuickBooks or FreshBooks that can make this process super easy if you want. Either way, it’s not going to take too much extra money or time out of your day to do this. But the results will astound you.

What you need to know about money is:

Where did it come from?

Did you get a commission payment? If so, what promotion caused the sale and payment? Can you improve this result?

When did you get it?

Did you get money the moment you came into contact with the person or was there a journey of some kind? How long from the day you contacted the buyer did it take before you made the sale? Trace the steps the buyer took.

Why did you get it?

Did you earn that money because you worked for it recently or is it surprise money from something you did last year and forgot about? Also, another example of surprise money would be that you promoted a product using your partner link from Amazon, but you got money from unrelated products from that person who happened to click then go buy something else. Hopefully, by reading these examples, you can ask yourself why it happened and when learning why, asking if you can repeat it.

What caused it?

Did this money show up because you set up an autoresponder campaign, or did it start because you decided to promote that product just this morning in an email blast? Knowing what caused the money can help you generate money when you want to.

How did you get it?

Did the money come through PayPal, Credit Card, Stripe, was it paid in cryptocurrency (are you taking cryptocurrency?), and are there more of your audience members who use this payment method seeing your offers

Things you track will move in the direction you want them to. That works with weight (weigh in daily), with personal finances, and also when it comes to your business. Track what money is coming in, where it’s coming from, and what money is going out. Track the where, what, when, why, and how of that number so that you can learn more ways to generate income and hold yourself accountable for expenditures.

Keep reading >> The Importance of Setting Financial Goals