In this episode, Jay looks at the critical role numbers and maths play in understanding your business and being successful.
He provides us with a pathway through the numbers in business and shares how you can make it work.
- It’s using a set of numbers to come up with a solution
- The numbers game will get you the desired result, A Personal trainer, 5 a day are all mathematics. If you smoke and drink every day then you will be looking at negative numbers.
- In business people talk about you being lucky and about taking a risk but for every business that is successful there are 95 that are not.
- I looked at those businesses that were successful and they all shared the same activities day in and day out.
- It came down to them doing the same activity day in and day out, they got really good at the numbers. Once I learned that method I applied it to my business.
- The sales activity is really important to monitor, there are certain things you can’t monitor but you can monitor the number of sales calls, the number of visits, the number of KPIs and the number of contractors out.
- When you start building your team in marketing and sales you can base your results on maths.
- Look at maths as your business – ‘here are the statistics I know that if we hit this’
The data will drive your activity and the activity will drive your results. If I look at the data I can see where the activity is.
- Get started tracking and recording the numbers daily, weekly, monthly, yearly
This will really drive your success.
- If you work hard on an activity but don’t track it you will not know what is working.
You need to review the key performance tasks that are going to get you the revenue you are targeting.
‘You’re just spreading yourself to thin and the thing that’s making you revenue will stop making revenue’
‘If you want to go with new idea leverage your existing business so it can run without you’
‘You’ve got to know your numbers’
‘Very easy to put a spreadsheet together’
‘Are you seeing your activity doing what you want’
‘Are you getting the revenue you want’
‘It’s using a set of numbers to come up with a solution’
ABOUT THE HOST
Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.
Its huge success inevitably brought about outside interest and at the age 33 Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.
A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.
After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.
Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.
In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.
Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.