The 5 Ways To Grow Your Business

Most business owners and managers, eager to improve their business performance, look for ways to increase their sales and profits.

One of the first questions we often get is ‘How can I grow my business?’ In reality, there are only 5 different ways you can grow your business.

1. Increase leads or enquiries

Most businesses depend on a continuous stream of new customers. Finding more prospects tends to be the most expensive method of growing your business, as it can cost five to ten times more than selling to an existing customer.

Yet you can use a number of cost effective methods– some of which costs you nothing. We use more than 43 proven methods to get more customers for our clients.

For instance, actively asking for referrals works for virtually any business – do you know when and how to get the best out of this method for your business?

Joint Ventures, another free method, can give lots more business very quickly. Formulate your offer properly and watch your business fly…

2. Convert more enquiries into sales

If you converted 20% more of the enquiries into sales you would automatically increase your sales by 20%, sometimes overnight, without spending a penny more!

Our arsenal of 33 methods can help anybody’s business. You can start using some of these right away.

Write down exactly how you achieve your sales today. What is the process? How do you guide customers to make a purchase decision?

Write down the words you use. Look at what you say and how you say it. How can you say or show it better? Or how can your staff say or show it better?

Write down the common objections and your answers. Can you improve your answers? Most people can… Write down your improved answers in a natural way, just like you speak.

Next you’ll need to make sure everyone in the business uses the new improved answers.

You’ll hear “kerching” as a result.

3. Keep customers for longer

Every time you lose a customer, money walks out through the door.

By communicating with past customers you can win many of them back. Start using an easy to use follow-up system and watch those customers return again and again. Using one or more of our methods, you’ll quickly feel confident as your sales increase.

4. Get customers to buy more

How would you feel if customers spent 10-20-30% more every time they made a purchase? What would that do to your profits?

McDonald’s “super-size that?” technique makes a huge impact on their profits. Some of the other 11 methods in our arsenal could make a huge impact in your business too.

Could you “super-size” your product or service? What if you bundled another product or service, creating a higher priced packaged deal?

5. Get customers to buy more often

If your customers buy more often you’ll gain in several ways. You’ll earn more without paying or working hard to get new leads. Frequent buyers often remain loyal for longer. And of course, your sales and profits increase.

Many retailers use one of the 12 methods in our toolbox, and it works great for service businesses too. Simply state “If you buy X today then you’ll get Y for half price”. Make sure Y costs you much less than half price, though!

Running special events such as “Closed Door Sales”, “Limited Offers” etc. could boost your sales significantly.

You could also find a matching but non-competing product or service to offer. For instance, hairdressers sell shampoo, dry cleaners hire out carpet cleaning machines. You can use this strategy to significantly increase your sales and profits.

You should take time to sit down and think how you could increase your business in each of these 5 ways. Many people can quickly come up with a few new ideas – what can you come up with that could change your business forever?

If you’d like help to grow your business, call Jennie on 902 789 660 now!

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