It doesn’t matter how many spreadsheets you create, reports you run, or graphs you make, there are only four ways to grow your business.
So, whether you’re a CEO, business owner, executive, manager, director, or staff member, making decisions based on the four ways (and your overall goals) will help improve your results.
The best part about them? They don’t ever change! It doesn’t matter the economy, industry, business model, product, or service, the four ways to grow your business always remain the same. With that, let’s jump right in…
- Decrease costs: This seems to be the easiest to recognize, but not always the easiest to execute. It could be reducing labor, getting a smaller office, cutting back on extras, lowering the cost of goods… basically if there is less money going out, you’ll have more money left in the pot in the end. But, this isn’t a one-size-fits-all answer, especially if you’re considering cutting or reducing value-added services or products.
- Increase the number of customers: Attracting new clients to your business is a great way to grow, and lots of businesses spend significant amounts of money doing this. But in doing so, make sure you’re not turning your back on old customers. Because even if you have new customers coming in, if your old customers are leaving, you’re actually hurting your business more than helping.
- Increase the average transaction: Yes, you could do this by raising your prices, but only if your customers are willing to pay. Instead, think add-on’s, related products, featured products, daily specials… you see where I’m going with this. Plus, with the technology available in today’s online shopping carts, this can be set automatically and you could be reaping the benefits with each sale.
- Increase the frequency of purchase: Whether it’s customer loyalty offerings, discount punch cards, daily specials, limited time offerings, up-sells, cross-sells… give your customers a reason to come back, and to come back often!
Today’s market place is changing. Consumers are changing how they make buying decisions and more competitors are popping up every day. That means you need to re-evaluate what is working and what is not, to make sure you’re using your time, money, and energy in the right areas.
So, now that you know the four ways to grow your business, what tactics can you implement that will show results? Well, that’s where we can help…
Each year, a few CEO’s, business owners, marketing executives, and staff get together with Ford Saeks for a special event to discover new strategies – leveraging the Internet and new marketing tactics – to find, attract, and keep their customers.
They go over the exact tactics to keep sales funnels full, ways to connect, engage, and influence prospects, and new marketing strategies that guarantee results, even on a limited budget. But, instead of going home with just basic theories and ideas (like so many other workshops and events), they actually work on their own marketing ideas, getting feedback from Ford Saeks and the Prime Concepts Team.
Ready to Grow Your Business? Then you need to be there! There are still a few tickets left so grab your spot for The Business Growth Summit Event with Ford Saeks and make sure to meet us in Las Vegas!