What Your KPI's Should be for 2023

Welcome back to The Fit CFO Show, I’m your host Amanda Hanquist and together with my husband Shawn we created this podcast as a way to help you reach your business's financial goals. We will break down common financial myths and mistakes in business and share with you the tools and knowledge to take your business to the next level. Our hope is that you will become financially equipped for success in your business and in turn help our mission to make this world a healthier place. If you get valuable information out of this podcast, we ask that you please share it with your audience and leave us a review so that we can continue to grow and help health and fitness businesses succeed!

We talk all the time about protecting your personal assets from your business by creating an LLC, tax savings by creating an S Corp when necessary, separating your personal finances from your business, but how do encompass this so that we can achieve milestones or goals in our business. That is what we will be breaking down for you on today's episode of The Fit CFO Show.

Knowing where you’re really at and where you want to is arguably the most challenging part of running a business and you can’t create real goals without understanding and knowing this data about your business. Having the ability to track this data will help you develop your goal and therefore your business in achieving its goals. The most important thing to understand as a health and fitness entrepreneur is your margins and KPI’s. There are about 5 main KPI’s you need to be tracking in your business, but the most important one is your Gross profit margin and remember when it comes to your GPM, you can’t outrun a poor one, you can only fix it.

To learn more about how you can begin tracking your data, understanding how to create goals with this data and track your businesses kpis’s head to fitcfo.com or the link in our show notes for the link to our Financial blueprint course that will give you the tools you need to accomplish this on your own, if you want to learn more about working with Fit CFO one on one, meaning you don’t want to have to worry about any of it, head to fitcfo.com/contact, the form will go to me and we will hop on a call and I’ll answer questions about your business and tell you more about Fit CFO. 

Remember if you're a health and fitness entrepreneur, to join our FREE Facebook Financial Blueprint Group, Exclusive to Fit Pros, we have a lot of free resources, monthly training and Q&A from a Fit CFO.

If you liked this episode, subscribe and turn on notifications so you don’t miss a beat. We’d love it if you’d share this podcast to your Instagram story, facebook page or any of your other social media platforms so that we can help other health and fitness entrepreneurs out there succeed in business. We so appreciate you listening in and until next time, keep your goals high but each step attainable.

Join the: Fitness Business Financial Blueprint Facebook group 

IG: Fit CFO

IG: Amanda Hanquist

IG: Shawn Hanquist