Turn your company into a #gazellecompany. There are SEVEN ways rapidly increase your revenue. Implement several of these to increase your revenue by 20% a year!
How to Grow Your Company 20% a Year
Add Partners
One plus one equals done. If I can add someone that is equally talented as I am to run something, that means that I have a two-headed monster. I’m full of ideas, but I have a finite amount of hours and energy. A partner can run with one of my ideas and turn it into a new division or a whole new company.
Add a Product and/or service
I’m always looking to add an additional service. Iin your case, it may be a product. If I can add another service, I can add another stream of income!
Increase Sales
Let’s say that I have two or three things that have successfully brought me target customers last year. I’m now looking for another one, so I’m going to beta test a couple of additional things. Maybe we’ll do our digital marketing in a different way, or expand our marketing in a particular medium or area.
If your sales team is not that good, maybe additional sales training or replacing the staff with more competent sales professionals will increase your sales.
- Better/More Marketing
- Sale Training
- Improved Sales Staff
Add a Division
All you’ve got is one punch. It wouldn’t be a bad idea to develop a jab or an upper-cut. Look at your company and ask how can I split this off and maybe give a division to someone else to develop so they can put their whole focus on that and you give them a profit sharing for it. Instead of having this one division, you have two or three. My main company has eight divisions. It’s worked so well for me.
Add a Location
Take the blueprint of what you did in your current location and try in another city that is similar in demographics. Rinse and repeat. I know what worked here, I know exactly how I did it, I know where our target customers are, I know this new area has similar demographics.
You can’t decide to just have this one business/location that you hold on to for dear life. I find that it doesn’t work. There’s always a competitor out there ready to take your market share,
Joint Venture/Affiliates
You can do a joint venture with another company and team up to deliver a product or service. You can also use affiliate marketing to increase your reach.
Consider Franchising/Licensing
What you’re trying to do is you’re trying to have more people sell your products or services. You’re trying to duplicate what you’ve done well. You can also franchise it, or maybe create licensing agreements. It just depends what the product and or the service is, but you must think growth.
