In the next few posts, I would like to share with you 5 business growth strategies that will guarantee business success. Actually, there are ONLY 5 basic strategies for business growth that we can consider. As you read each strategy be thinking about how you can improve on it within your business!
Every small business needs a written operations manual. It is absolutely essential. It does not have to be large and comprehensive, it just needs to be useful. Here are 5 reasons why your business needs this.
The number one reason most businesses do not grow is because they do not have a plan! Tweet This
It is critical for every business owner to plan annually for consistent, healthy growth! There are several reasons why owners do not plan but the fact remains you must do it to grow your business! The question is “How?”
In this post I want to give you a simple outline to follow as you create your business plan for the coming year.
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:
Efficiency: Doing things right to produce consistent and rapid results
Effectiveness: Doing the right things to produce the results you want
“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.