In today’s fast-paced business world, making decisions by “gut feeling” is no longer enough. That’s the big message from Tanner, the host of our latest episode of The Ownership Advantage. His deep dive into data-driven decisions reveals not only why numbers matter, but also how measuring and managing the right data can be a game-changer for your business growth and efficiency.
Why Data-Driven Decision Making Matters
Data-driven decision making is more than a buzzword—it’s a philosophy that empowers leaders to make more informed, effective, and ultimately successful choices. As Tanner reminds us, “If we don’t know what’s going on, it becomes very difficult to manage things and make decisions in a way that are effective and allow us to get closer to the goal.” When you track the right metrics, you cut out guesswork, avoid misguided strategies, and focus your energy where it delivers real returns.
In the early days of his own entrepreneurial journey, Tanner quickly learned that while the team thought they were spending their energy on lead generation, the data told a very different story. Only through diligent tracking could they recognize this gap and realign their efforts.
The First Crucial Metric: Your Time
One of the most crucial resources in any business is time. Tanner is a big advocate for performing regular “time audits” or “time studies,” where you meticulously log how every minute is spent over one to two weeks. And not just during work hours—track the whole day to get a full picture.
Why is this important? Because, as Tanner points out, you may believe you're dedicating substantial time to key priorities (like generating leads), but the data might reveal otherwise. By literally seeing where your hours are allocated, you can:
- Identify time wasters and non-essential commitments
- Accurately plan and set realistic expectations for project timelines
- Make more intentional choices about where your energy goes
This process can be eye-opening for both individuals and teams. By organizing time into buckets—like finance, marketing, sales, and client delivery—you can quickly see where resources are under- or over-allocated.
Financial Tracking: The Heartbeat of Your Business
While measuring time is essential, Tanner argues that understanding your numbers—especially financial data—is what truly supports sustainable growth. Key metrics to track include:
- Revenue, sales, and profitability
- Expenses vs. budgets
- Cash flow and forecasting
- Break-even points
- Accounts receivable and the “cash gap” (the time between paying for resources and receiving client payments)
Having your financial pulse at your fingertips means you avoid nasty surprises, maintain healthy cash flow, and make investments with confidence. Importantly, Tanner shares that he learned to track these the “hard way”—by experiencing challenges that could have been mitigated with closer measurement.
Marketing & Sales Metrics: The Engine for Growth
Of all the numbers you could track, Tanner’s personal favorite are those related to marketing and sales. These are the “most tedious” but also the most revealing. From activity metrics (networking events, calls made, emails sent) to conversion rates (meetings booked, deals closed), tracking each step of the client journey helps you diagnose where things are flowing—and where they’re getting stuck.
For example, you might be generating plenty of leads but failing to follow up, causing high drop-off rates before the sales conversation even starts. Or perhaps you’re great at nurturing the sales call, but not converting. The data tells the story, and lets you fix the right problem.
Beyond Numbers: The True Goal
Tracking shouldn’t be a chore for its own sake. The power is in using your data to make better, faster decisions. As Tanner says, it’s far too easy (and costly) to “solve” problems that aren’t actually there. Data ensures you focus on the real constraints holding your business back, making your solutions count.
In summary, when you measure what matters, you can manage it. And when you manage it, you can move it—transforming your business in the process.
So take that first step: track your time, review your financials, and dig into your marketing and sales data. It could be the most valuable decision you make this year.
Interested in going deeper? Tanner and the Action Coach Central Texas team are offering two free weeks of coaching to help you implement these principles in your business. Claim your offer HERE and start building your data-driven strategy today!
Check out the full episode on YouTube HERE
Listen to the full episode on Apple Podcasts HERE