Four surefire ways to grow your business ASAP. #growth #growingyourbusiness #entrepreneurship
Make a change
Insanity: doing the same thing over and over again and expecting different results.
-Albert Einstein
Keep track of your data. It doesn’t mean that you have complicated software. I have Excel spreadsheets and Google Sheets. These give me all the necessary information that I need each week to make critical decisions. When I see bad patterns, then I know changes need to be made. I can see trends, which lead to future events. If you see things going in a bad direction, rarely are they going to go in a positive direction unless something changes. What is not working? Who is not producing?
Ramp Up Your Marketing
There are three marketing ramps you can leverage:
1. Increase sales from existing customer base
2. Get referrals
3. Find new customers
Word of mouth marketing is lazy. We all know Apple sells iPhones and they still spend a billion dollars reminding you of that. We know that Microsoft sells the Windows operating system, and they still remind us through marketing. They are protecting their market share.
One of the things that we do so often is when things start going well and we cut back on the marketing. We get comfortable..and that’s just a fools game. Ramp up your marketing. Find new avenues that work for you, new platforms that work for you, things that you’ve never tried before. Every year, I want to find something new that allows me to attract customers, things that I may have not have tried, because what’s going to happen eventually: things that once worked will no longer work.
Give more buying options
What are you selling and what can you sell more of? Are there upsell opportunities? Ancillary products? Can you make buying easier? Faster?
If the process to buy is difficult or takes too long, that is also an area of opportunity. When it becomes difficult, I’m not interested. My attention span is gone. We just kept finding out what more our customers wanted from us, and we kept adding it. Then we keep trying to make purchasing from us easier and easier.
Get More People Selling Your Products or Services
Create affiliates, new divisions, locations. We’ve maxed out in the city we’re in, so we’ve moved into two cities within an hour of us that have similar demographics. We have a profit scheme that is systematized. Anyone in an area with good/better than average home values could operate this business.
- Franchising
- Licensing
- Partnerships
