4 key figures that every entrepreneur must master. Which one do you know?

The numbers tell us everything.

Hey, did you know that there are only 4 key numbers to watch out for to make your business thrive.

I know that sounds crazy because we're so used to hearing that it's so complicated to grow a business; you have to have so many skills, etc.

Yes, it's not an obvious thing, but like everything else you do in life, if you put your energy on the right action, you will get results quickly.

That's why I'm going to share with you 4 key figures that will help you stay focused on the things that will make your business thrive.

I discovered them myself from the man I consider to be one of my mentors Mr. Allan.

I am Cheick Sissoko and I help entrepreneurs create automatic sales sequences for their products and services.

Thus, they have marketing and communication strategies that require very little intervention from them to attract customers, gain financial independence, have more time for themselves, their loved ones, their family.

I am about to go on a tour of Africa thanks to the geographical freedom that my activity offers me. I will share the pictures with you.

You may have heard this motto in marketing: "everything that can be measured gets better". Marketing is a game in which you have to measure, manage and constantly improve your numbers.

Your car mechanic or doctor only needs a few pieces of information to give you a good diagnosis.

Your accountant only needs a few numbers to know if your business is on the up and up.

So here are the 4 numbers you need to know as an entrepreneur:

1 The number of leads. In other words, the number of leads (potential customers) that you attract every week or every 15 days to your business. There are different ways to attract traffic to your site. And to avoid having to regularly chase customers, the best solution is to create systems that attract them and sell your products and services automatically.

2 The conversion rate. Calculate the percentage of leads that are converted into customers who buy your products or services.

3 Average transaction value: Knowing the average amount customers spend with you is crucial to establishing marketing strategies.

4 Break-even point: identify the amount of money needed to keep your business afloat. This includes rent, staff, equipment and other operational expenses.

All of these numbers can be measured monthly.

I recommend you do it weekly with an Excel tracking table.

Let's take a look at an example that shows the importance of knowing and tracking these key numbers to improve on a daily basis.

Let's say you run an online store that sells hair extensions.

You import your products from China and you make a 50% margin on each product sold.

On average, your site receives 1,000 visitors per month, 10% of whom buy for 200 euros.

Your break-even point, which includes operational expenses (warehouse management, accounting fees, site hosting, etc.), is 1000 euros per month.

Now let's focus on improving 3 key numbers.

The number of leads, the conversion rate, and the average cart.

To do this, you make the content of your ads more attractive and instead of 1,000 visitors to your site, you get 2,000.

Then, you offer an irresistible guarantee to break the barriers to doing business with you, which increases your conversion rate from 10% to 12%.

Finally, on the shopping cart page, you implement an upsell offer, which increases the average value of your transactions from 200 to 300 euros.

Your profit margin remains at 50%, and your fixed running costs remain at 1000 euros per month.

These 3 elements allow you to go from 9,000 euros to 17,000 euros of income.

While this example may seem simplistic, it shows the impact that good marketing can have on your business.

Of course you can act on other levers such as increasing your prices, decreasing some operational expenses through better automation of sales systems.

The important thing to remember here is that you need to measure, manage and improve.

The smallest things can have an impact. 

If you enjoyed this article, please share it with your entrepreneurial friends and project owners.