Monitoring the Health of Your Business of One Three Simple Questions to Ask Each Week"
You only need to answer 3 questions to actively monitor the health of your “business of one.” You should log these questions once a week (on the same day each week).
- Am I happy? 😊
- How often are customers recommending my product/service? 👥
- What is the week-over-week (WoW) percentage change in my target free cash flow? 📈
I prefer a spreadsheet so you can track the trend line over multiple weeks. If you want more rigor, you can include 3 columns (target, actual, difference) for each of the 3 questions. Then create a new row for every week of the year. Keep your happiness rating simple with 2 (yes/no), 3, or 5 options. Track customer recommendations through an automated process such as affiliate programs, lead gen forms, NPS surveys, referral programs, or testimonials. Check your cash position no fewer than once per week. Most US bank accounts can sync to your accounting software (e.g., Quicken, Xero, Wave). Managed accounting services (e.g., Bench, Collective, Pilot) can do the same. Know your cash position at all times.
Force yourself to address business problems early. Start asking “the five whys” when you miss a target. Get to the root cause, write down your action, and quickly take that action.
Related Posts
Prioritize Outcomes Over Activities Free Cash Flow Is the Goal for Seven Figure Solopreneurs — When operating a business of one, you want simple input goals with experiments that you can run in ⟵
Why Solopreneurs Will Become a Dream Job for Those Demanding Happiness the Reason Is Obvious — I understand why some want to do work that impacts millions or billions of peopleBut you don’ ⟶
You're Not Alone Build Your Professional Support Team With These Four Roles — Think about 2-3 people you would explicitly nominate to support you in each category belowTrack whe ⟶
