Why You Should Commit to Tracking Income Daily

We are talking about money conversations and some things that we can feel pretty awkward in our business.

One of the tools I often share with our own clients is about tracking income daily. I'll be really frank with you when I first suggest this. They're like, “Really? Do I have to do that daily? What if I'm not getting money coming in on a daily business?”.

That's the whole point!

Reasons for Tracking Your Income Daily

We need to do some tracking to see how many days you've actually got money coming into your business, and then we can start to look at what are some of those gaps.

What's always really interesting with this exercise is that most business owners feel awkward about it. They don't want to do it. It’s going to tell you the truth of what's happening in your business, and sometimes that's a place that we just want to avoid. Let's be honest. Tracking income daily is also going to shine a light on what's happening and what's not happening in your business.

Why is Tracking Income Daily Important?

Let me tell you a story about an amazing new client of ours, Amber.

She was working with one of our coaches, and the coach, of course, had said, "Amber, you've got to start tracking the money. How much are you actually bringing in with all of these new clients?" Amber didn't even realize at that point that she'd already hit her very first financial goal because of all of those little amounts. They were adding up. Tracking her income daily, she hit the first financial goal that she'd set for herself within 90 days. She only discovered that through money tracking.

So, there's always going to be good and bad on this. Sometimes it's going to show you a story that you don't want to see. Numbers tell the truth, and that can feel awkward and uncomfortable. At least at that point, you know what you need to do to start to course correct.

By tracking income daily, you may realize that you are actually doing a lot better than you thought you were. That's going to give you an amazing momentum to build on. And all of a sudden you will see that you're close to your next financial goal, and it gives you the impetus to keep going and take it to the next level.

Commit to Tracking Income Daily

So, that's my tip for you today. Start writing it down.

It doesn't need to be complicated by the way. Pen and paper are all you need. At the end of every business day, I want you to write down exactly the amount of cash that came into your business on that day. Start to track it for a 30 day period, and see what the story is that those numbers are telling you.