Thousands of books have been written on how to grow a business. Authors focus on everything from management, production, finance and innovation.
While all these are important, ultimately there are only 3 ways to grow a business.
- Get more clients.
- Increase the average sale value per client.
- Keep clients coming back and buying more.
Everything else is there to support these three activities.
Here’s a quick example of how much increasing each one of these by a mere 10% could make to your revenue.
Let’s say you have 1000 clients. Each averages $100 per transaction and make 2 purchases per year.
Your total income is 1000 x $100 x 2 = $200,000 per year.
But look what happens if you increase each component by just 10%.
1,100 x $110 x 2.2 = $266,200. An increase of 33.1%.
A 25% increase in each category raises it to $390,625.
So while all the stuff about management, product et al is important, the fastest way of growing your business is to focus on these 3 fundamentals.
At Revealed Resources, our sole aim is to improve your bottom line profit. Our Attraction, Conversion and Retention programs cover:
- Attraction – Marketing to increase the number of qualified prospects calling you. A prospect who calls you is twice as likely to buy than one you’ve cold called.
- Conversion – Nothing happens till a sale is made. Our sales programs help you close more high value business more quickly.
- Retention – It costs 7 to 20 times more to bring a client in the door than selling to an existing one who already knows, likes and trusts you. So if you’re not doing everything in your power to keep your clients coming back, you’re missing out on major profit opportunities.
Call us on (02) 9499-7958 to accelerate your growth.