Your weekly Financial Tracker

Okay, welcome to your weekly business tracker. Now when I say this is an absolute game changer for your business, I truly mean it. This is going to be exactly what you need, the simple solution to so many of your problems when it comes to tracking things in your business. Now if you have been in business for a long time, I can almost guarantee you are not consistently measuring or tracking the things that are in this spreadsheet right now. However, I can also guarantee that by not tracking them, you can, you are holding yourself back. And if you are not yet where you want to be, the likelihood is it's because you don't know where you're at. So let's say for example, you want to grow your income. How do you grow your income if you're not consistently tracking it week on week? So this spreadsheet has been made so simple for you to help you to do that and it actually does all the formulas for you as well, works everything out so you can see things so, so clearly at the click of a couple of buttons. Now if you are brand new to your nail business, so if you are just setting your business up right now, then you're, you are in an amazing position because you are going to be setting yourself up as a true business owner from the very beginning. And remember, my mission here is to help you to be just as successful as a business owner as you are as a nail technician. And that all starts with making sure that you are actually tracking what is going on in your business. If you think about the successful businesses that you know of right now in the world, any successful business, it can be big or small. Do you think they are tracking certain numbers in their business right now? Like for example, their income, their cash flow, how many customers they have? Of course they are. Every successful business is tracking really important metrics in their business. So it is the first step to you leading a successful career in the nail industry. Okay? And it is so, so simple. So I'm going to talk you through it right now. Now you will notice here that you've got a dashboard and you've got a weekly income tracker and they are the two toggles at the bottom. Now the exciting thing is you don't even need to do any, anything on your dashboard. This is what your dashboard looks like here and it pre populates based on everything you enter on this spreadsheet here. Now if you have been a member for a while, you will be used to checking in on the news feed. She you'll be sharing your wins, lanes and changes on the news feed for your business for the previous week. And you will also be sharing the number of clients you've seen, the number of hours you've spent at your nail desk and your weekly income as well. Well, this tracker captures all of that information and then gives you graphs, gives you all of the outputs that you need to know so you can use that information to help you move forward. And I'm going to show you how easy it is as well. So you're going to complete this spreadsheet once a week and you're going to do it either on a Sunday or a Monday for the week previous. Okay? So you might do it on a Sunday based on the week you've just had, or you might do it on a Monday from the week that you've just had as you move into the next week. Okay, so you put the week that you are reviewing in here. So let's say it's the first of January, Okay? Then you will enter how many new clients you have that week. So let's say we saw three new clients that week. Then you will enter the number of clients that you've had. So you'll be able to look at this on your booking system. If you've got one, you should. If you haven't, I'll help you to set one up in the coming lessons. But you should be able to look at that, find out your number of clients and enter them here. So let's say in total we had 25 clients. The number of hours that we spent with our clients. So let's say we added up all our treatment terms and it came to 32 hours in total to see 25 clients. Then let's say your number of hours doing admin and business growth work. So things like accounts, things like social media, replying to any clients, things like that, writing any emails, all of those things. So let's say we spent five hours this week on our admin and our business growth and what your total income was. So you can also get this information from your booking system. So let's say I've added it all up and actually I earned. I don't know, let's keep it really simple with a rounded number, 1000 pound this week. Based on all of that, then you've got a box for your total outgoing. So let's say you went to the wholesalers this week and you put an order through for a new gel collection. So let's say you spend 220 pounds also on stock and things that you needed. Okay? So you will now See that all of this has worked out this information for you. Okay, so in total, we operated this week with a profit of £780. So that's our cash flow, that's our income against our outgoing, which leaves us with 780 pound profit. Our total hours worked added together is 37. So we work 37 hours. Our average time spent with each client is 1.3 hours. So around 1 hour 20 minutes. Our average client spend, so around 40 pounds per client is being spent. Our hourly rate with clients. So just based on the time that we're spending with bums on seats doing those nails, our hourly rate is 31 pound 25. And then our hourly rate, including the time that we're spending doing our admin, because remember, that is time spent working as well. So when we drill that down and add our admin in as well, our hourly rate is 27 pounds 38 pence. Then we also have our hourly wage. So our hourly wage, and remember, on, I'll show you in a minute, but on this tab here, it tells you the difference between an hourly rate and an hourly wage. So our hourly wage is £24.38. And our hourly wage, including admin, is £21.08 for that week. Okay, then you can go on and do the next week. So let's say it is the 8th of January and we're gonna do that week. So let's say we had one new client, we had 30 clients that week. Let's say we spent 43 hours, we did seven hours of admin, and we had £1,200 with one £30 spent on stock and things like that. So again, it will pre populate everything for you. It will show how much your clients are spending, it will show you your hourly rate. So ideally, we would want to start to see our hourly weight rate and wage increasing, but our average time spent per client potentially reducing. Okay? And that would show us that we're spending less time but earning more money. And that will be over a longer period of time. Now, in total, at the end of each month, it will give you your total profit, your total hours worked, it'll give you your total outgoings, your total income, your total number of hours doing admin, total number of hours with clients, total number of clients that you've had that month, and total number of new clients that you've had that month. How amazing is it to be able to see all of this information clearly in front of you for the month? This gives you a complete snapshot of Your business per week and per month. This tells you everything you need to know. So if we're doing a hot seat coaching session and I say to you, you ask me a question based on something you're trying to do, grow your business in whatever way, I should be able to say to you, what was your income last month? What was your profit last month? So that I can help you. And you also should know the answer to that. Remember, you are a business owner, you are not just a nail technician. So this is the information that you should know. Okay? So once you start to fill this in, if we flick back to your dashboard, you will see that it starts to pre populate everything month by month. So you can see here, on an average of the week, you've got 27 and a half clients in January, on average, per week. On average, per week you are spending around 37 and a half hours with clients and six hours on admin and growth per week. Your income in total in January so far, based on those two weeks that we entered is £2,200. And your outgoings are that which gives you your profits. And, and then it gives you all this information here, a total update for the month. And then the exciting part is you scroll down and it gives you a graph. So if you're a visual person, you get to see your cash flow on a graph and also your average number of clients per week. So for example, here you've got your income is this color and your outgoings in this color. So you'll say your income and your outgoings and you've got a massive difference between that, which is great. So if you start to see some months where your income is going down, your outgoings are going up, you know that potentially your cash flow is off because we're spending a lot, so what are we spending on? Is it a business investment? Is it unnecessary? Can we cut back on that? We can start to see the difference there. Obviously, when you first start your business, we would expect to see outgoings a little bit higher because you'll be investing in more of your workspace or your kit. But as you flow through your business, you should start to see your income on the graph increasing and your outgoings potentially moving further and further down as you don't need to potentially invest as much in your space and things like that. And then over here you'll have your average number of clients per week. So it depends what stage you're at in your business. If you're someone who is trying to grow your business to go full time or to get a full client base, then you would want to see this start to increase. If you are someone who is wanting to let go of some clients because you want to spend more time on education or something like that, then your goal might be to minimize this week on week to a set amount. That might be your goal. So your goal might be actually I want to have 20 clients per week so that I've got time to X, Y and Z. So you can see all of these things from the graphs. But ideally you would want to see a higher income, a lower outgoing, and depending on your goal, but usually more clients each and every week or month. Okay, so that is how the dashboard works. You can pop some goals in here for what you are aiming for so that you can cross reference them and see where you are at in terms of your reality against your goals. But see how simple it is to fill all of this in once per week. It will take you two minutes if that. I've just done this whole video in 10 minutes and I've rambled on and rambled on. So you fill this in each and every week and depending on when you start on this, it is pre filled in. But you've got a drop down here. So let's say for example, you have just joined the membership and it is May. Then you will click May for your first month and all of the other months will follow in chronological order. Okay. So you can just click on the end drop down here and set it to the month that you are starting this and then you can go from there and go through each week. You've got a little section here for notes. So let's say your outgoings were higher this week. You can. It might be because you invested in a business course so you could pop that in here as well so that you have that reminder. When it comes to the end of the year, you will have all of this to look back on. When it comes to the end of each month, you will be able to look over everything and understand why things are happening. This is going to be the complete roadmap for you to be able to read your business. And to read your business, we have to have this data. So you're very welcome. I can't wait to see you guys filling this in. This is also going to help you then when you are checking in because all the information will already be filled in on here anyway. I'm just going to remove all of that and you'll see it'll go back to a blank spreadsheet. So you've now got your own. Okay. So you can click on the spreadsheet, you can make a copy, you can start doing your own, you can save it to your own laptop or desktop, and you can continue to check in with us on the news feeds so we can see exactly what is happening in your business. I'm really excited for you. This is the first step in setting yourself up for success in being organized. If you've not been organized in the past, we can say goodbye to that. This is so easy now. No excuses. And yeah, I will see you in the next training video.