April is tax time in the US.
If you live in the US, you might have rushed around at the last minute to complete your return and send it in.
If you’re the more proactive type, or probably due a refund, you completed your taxes months ago.
Regardless, learning about your taxes can teach you how to get more clients.
The below chart is titled:
“Where Did My Tax Dollars Go?”
As you can see from the image, the government has a clear understanding of two things:
1) where the money came from (us)
2) where the money was spent
What does that mean to you?
It means understanding where your dollars were spent.
For instance, every month, I review my companies P&L report (Profit & Loss) to see where it came in, and where it went out.
Next, I can analyze the “In” and do more of whatever brought it in.
Then, I analyze the “out” to see the return on the effort.
I don’t just attempt to reduce the out, because if I spent $1000 on advertising that returned 2 new clients, then I want to do that again… and again.
However, if I spent $1000 on advertising and I received no new clients, leads or signups, I need to look at, improve or drop that effort.
Do you know where your money goes?
How about your time and Energy?
By keeping track of where your time, energy and money go, and the results they return, you can make better decisions to improve your results.
It starts with knowing what your most effective activities are.
That’s a topic for another article.
To Your Millionaire!
David Koons
The Free Agent Coach
PS – Use the comments below to share with me and others what you track on a regular basis.
Leave A Reply (No comments so far)
The comments are closed.
No comments yet