Gregg Jaclin | Consulting Insights: Metrics Your Consulting Business Should Measure
Consulting businesses have a unique business model that brings with it a multitude of metrics that can be helpful to measure. It’s easy to get bogged down in numbers and percentages and feel like you don’t even know where to begin or what areas need your attention. These five metrics just might be some of the most important, so start by measuring these to get a hold of the overall effectiveness of your business.
Magic Number
Once you set revenue goals, it’s essential to calculate your magic number. This is essentially the number of clients you need to connect with to reach your goals. This number will look different depending on your average revenue per project, the goals you’re trying to reach, and your outreach process. Once you know these things, you can establish how many new outreach conversations you need to start to keep your business growing towards its goals.
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