EP # 147 - The Most Essential Data Every CEO Must Track for Business Growth

Diamond Effect - Success Strategies for Service Businesses

In my latest podcast episode, I dive into the world of data analytics for CEOs and business owners. It's not just about having the information; it's about understanding financial, marketing, and operational data to make informed decisions.
For example, did you know that tracking your conversion rates, profitability, sales cycle length, etc. can lead to catching opportunities you might otherwise miss? Through real-world examples, I illustrate the transformative impact of data analysis on business improvement. Let's discuss the power of numbers and growth!

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The importance of tracking financial numbers (00:01:22) Maggie emphasizes the significance of tracking financial data for business growth and decision-making.

Types of data to track in your business (00:02:27) Maggie discusses three types of data that CEOs and business owners should track and the importance of being informed for better decision-making.

Using data to improve business performance (00:03:33) Maggie explains the necessity of understanding and learning from tracked data to improve business performance and make informed decisions.

Using data to address business challenges (00:04:38) Maggie provides a specific example of using data to address a client's sales process challenges and the importance of having visibility into business operations.

The significance of current and past data (00:07:48) Maggie explains the importance of having access to both current and past data for understanding trends and addressing potential issues.

Tracking financial numbers for business success (00:10:03) Maggie highlights the importance of tracking financial data, including income, expenses, and profit, for business success and growth.

Utilizing marketing and sales data for business control (00:13:33) Maggie discusses the importance of tracking marketing and sales data for better control, confidence, and independence in business operations.

Operational data for business complexity (00:17:10) Maggie explains the significance of operational data, such as client complaints and project timelines, as businesses grow in complexity.