Give most business owners a magic wand and they’d wish for three things. Firstly, they’d want more clients, secondly, they’d want to make more profit and thirdly they’d want more cash in their bank accounts. In other words, GROWTH!
But where to start to achieve sustainable growth? It’s quite a daunting prospect for most businesses especially if things have stalled and there’s no obvious way to get them going again. But as somebody once said, if you want to eat an elephant, you have to start with the first bite-sized chunk!
So let’s start with some of the stuff I’ve touched briefly on in previous blogs, and look into them a little more deeply. All the strategies I’m going to talk about in the coming weeks are designed with one aim, to help you maximise your sales your profits and your bank balance! We live in a world of opportunity; the challenge is to turn that opportunity into success.
First of all, hands up anyone who knows how many ways there are to actually grow a business. 100 ways, 500 ways, 1000 ways? Actually, there are only three ways to grow a business, 1. Increase the number of clients, 2. Increase the average sale per client and 3. Increase the number of times clients come back and buy from you again.
It’s as simple and as difficult as that, but at least if there are only three areas you need to concentrate on, and you make a decision to work hard on each of those three areas, then eventually you’re going to get good at this stuff and your results will reflect that.
Have a think about this tonight.
- How many clients have you got at the moment
- What’s their average spend each time they buy from you
- How many times a year do they come back and buy again?
If you have that information available then you’ve already got a great platform to grow your business, if not then make it a priority to find those numbers and put a system in place to measure them at least once a month.