Let me introduce you to two importance concepts related to business growth – efficiency and effectiveness. Both are vitally important! In a nutshell, here are the definitions:
The significant problems we face cannot be solved at the level of thinking that created them. –Albert Einstein
In order to take your business to the next level, you must become a Strategic Business Owner. The first step in becoming a Strategic Business Owner is to face reality. Now consider the second step: your mindset shift from technician to CEO.
“The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.” -Peter Drucker
The best and fastest way to increase your revenue is to focus on your customers. They already trust you and buy from you. So what you want to do is look for more ways to serve them! This will enable you to increase the average transaction size and/or increase the frequency of the purchases.
To be successful at getting your current customers to spend more with your company and to spend more often, you must increase the “perceived value” of what you offer. You must educate your customers so that they desire your products/services even more.
Here are 10 ways to increase the average purchase size and frequency of your sales, and in turn, increase your revenue.
Most of us started our businesses because we wanted to have freedom, flexibility, fun, and fortune! But how’s that working for you?
“If the marketplace isn’t talking about you . . . there’s a reason. The reason is that you’re boring. And you’re probably boring on purpose. You have boring pricing because that’s safer. You have a boring location because to do otherwise would be nuts. You have boring products because that’s what the market wants.” – Seth Godin, from The Referral Engine, by John Jantsch
In his book, Jantsch says, “To build a business, territory, or practice based primarily on referrals, you must first discover or create the remarkable thing about you or your products, the thing that gets people talking—that almost forces them to tell others about you. Boring people, products, and companies are hard to refer!”