Your Stripe Balance Can’t Actually Tell You if You’re Going To Be OK
Do you find yourself regularly refreshing your Stripe dashboard?
Do you notice that little thrill you get when a new sale hits? That rush of dopamine that washes over your anxious brain with satisfaction and pleasure? It feels good.
Harsh truth: Getting a new sale is just a temporary fix for the anxiety your brain is feeling.
If you really want to know how your business is doing, here are a few of the numbers that will actually help you make better business decisions:
The number of new leads you’ve got and where they came from
Your profit margin over time
Lifetime value vs cost of acquisition
A new sale doesn’t tell you how to spend your marketing budget, but these numbers will help you know where you need to invest to increase your profitability while you grow.
And what if you need to check your Stripe to know if you’re going to be ok today?
Well, if you’re that close to the line, go ahead and check your stripe balance. But also, tune in next week when I’ll talk about things to change in your business, so you know you’re ok before you even check Stripe.
