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15 Simple Ideas to Grow Your Business |
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The only way you can guarantee the long term growth and success of your business is to continually increase the amount of money coming in. There are only 3 ways you can increase the flow of money coming into a typical business:
- Increase your number of customers (Get more new customers).
- Increase the average dollar amount of each purchase (Get bigger sales).
- Increase the frequency of purchases by your average customer (Get more repeat business).
If you are a typical business owner or manager, growing your business is something you always have on your mind, but never have enough time to actually do. However, consistently putting off growing your business until tomorrow for work today will only get you short term results. The catch is that those short term results may or may not be able to support you or your business in the future. After years of working with small business owners, we've found the following core growth concepts are the easiest to start with and the most effective. So, pick at least one day a week and then one idea to focus on growing your business.
New Customers Ideas
- Implement an automatic follow up procedure to periodically contact previous prospects who didn't buy. (This one procedure alone can increase your number of new customers by 50% or more.)
- Set up a proactive referral program to automatically ask every prospect and customer for referrals.
- Establish a procedure to get free publicity on a regular basis.
Bigger Sale Ideas
- Increase your prices. Do some research to see what your market will bare. It is probably more than you think.
- Become exclusive. Find or develop some higher priced products or services to offer.
- Packaging. Propose an "Upselling Offer" in every sales situation. Offer an upgraded product for a higher price. Or, combine the original product with one or more related products to create a special package for a higher price.
Repeat Business Ideas
- Develop special offers for existing customers- better prices, more values, wider selections, and add-ons.
- Find or create additional products or services to offer your customers.
- Communicate regularly with customers. Keep reminding them of the benefits you offer.
- Hold events that your customers will appreciate and find value. i.e. Bookstore has a book-signing.
Overall Ideas
- Make your business distinctive and do things your competitors can’t.
- Test different aspects to promote business: -- new offers -- new items -- new prices.
- Develop a tracking system for those products that are your best-sellers.
- Let technology do the menial and manual things so you are free to do the more profitable work.
- Survey your customers to determine their wants and needs.
Samantha Rufo
For more information or how nxtConcepts could help you implement these ideas, please contact 740-815-6925 or use the Contact Us form on this site.
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