Today  I am talking about having a profitable business. To have a profitable business you need to know your numbers. Time again research shows those businesses who do not have a handle on their numbers are the ones who get into trouble.   I know numbers can be boring but they are important.  I look at mine weekly and monthly in my planner I have the target for the month.  I reached that by knowing what I want to have at the end of the year.  You need to know how many leads you need what they are worth. How well they convert.  How do you get repeat clients?  You need to think about referrals.   What kind of lifestyle do you want? What do you need to live on these are all important considerations?   When I  started my business, I did work out what I needed to live on but from that point, I was not sure what to do to get leads.  I had my website-built thinking that would help. Now I know that just because you build a website does not mean people will come and buy your service. They need to know you exist.   Point 1     You need to know where your sales are coming from which are the most profitable and where your expenses are going . For instance, my main sales are from  supporting people with  their CQC registration. However, I also have a e-learning platform  client tend to buy these courses after they have bought my Registration service.  I have levels of service so clients can buy the level that suits their budget. I  have a  name for each of these services and I can check the percentage of sales from each income stream. Point 2   I have a handle on my expenses. I  do a lot of personal development, so I have a high spend on training. But I do have a budget which I will not go over for the year.   In the beginning, I made mistakes with going for any training without looking at how it fitted into my overall business plan. Now I  use tools which help me to decide whether the course will be worth it or not. These could be free or paid for.  The same principle applies.  The time I give a course or webinar is time not spent in the business. So I need to know what my return on investment is.      Point 3   In terms of expenses I know each year I need to account for my accountant,  Microsoft for business software, my subscriptions to other platforms. My membership for example  of the ABM.  I know how much this cost and what sales I need to generate to cover my expenses. Point 4 Forecasts are also vital for your business  so you  can manage your cash flow and expenditure. If you want to grow your team you need to know how much you need to spend on recruitment Point 5  There are some key indicators you should be looking at. These will be different for different business. However, some of these  should at least be a focus;  Number of new customers Numbers of retained customers Customer feedback I use Google Reviews as it can be seen by anyone who Googles my business.   Conversion rate so how many people who sent an enquiry converted to a sale. What did you do?  I also know that those with whom I have a telephone or zoom call convert better than those with whom I just have email correspondence.  The zoom calls convert the best this is because they get a chance to meet me even if it is virtually.  I also know those who receive my book convert better as they have a chance to get to know me by reading my book.   It is key to know where customers come from and the conversion rate. If you have a referral system how does these convert? Do you have a loyalty scheme?  For instance, a podiatrist I know gives a discount if you block book treatments. This s  good for them because they know how many appointments, they have on their books in advance plus they get paid upfront so that helps with cash flow.   To help me keep an eye on my numbers I  use electronic accounting platform. I used to have a Simplex D book, then I moved to a spreadsheet, but it was too cumbersome. I was so pleased when I finally moved to an...