Think it is hard to double the size of your business?
Wednesday, 2 April 2014 | Tom
I bet you think that it is hard to double the size of your business…what if I told you it is no where near as hard as you think. I am not going to say it is easy as if it was, every single one of us would be a millionaire. However I do have 10 key steps which I know will help you achieve this. If you follow these 10 key steps and implement them you will see your turnoversoar and your profits increase dramatically!
Allow me to elaborate, points 1 and 2 are below:
1. Your 100% growth strategy.
There are 3 ways to grow your business which simply are:
• Increase your number of customers
• Increase your customers average spend
• Increase the number of times your customer purchases from you.
Believe it or not a 100% growth strategy is extremely simple. You might think you need to double all of the above to achieve 100% growth, but far from it. For example if you have:
• 10 customers, who buy £10s worth of goods or services from you a year and they do this 10 times a year, your turnover is £1000.00
If you then increase all 3 factors by 10%, so you have 11 customers, who buy £11s worth of goods or services from you a year, and they now do this 11 times your turn over is now £1,331.00. This is a 33% turnover increase.
So if you just increase your number of customers by 30%, increase your average spend by 20% and increase the amount of times they purchase by 30%....you have doubled your turnover. This is your 100% growth strategy.
2. The Importance Of Simultaneous Not Sequential Action.
How many times throughout the day do you start doing something that will help your business grow and get side tracked because “technically” your marketing or sales activity can wait as there is no deadline on it.
This is one of the biggest problems we see in so many businesses nationwide. You have to set yourself deadlines and to really see dramatic results from your marketing and sales everything has to be implemented all at the same time!
Know a days doing one thing is not enough anymore. Your marketing especially needs to be made up of around 10 different avenues. So next time to you are about to get sidetracked ask yourself, do I really need to do that or can someone else do it?
I hope these first two points have started to open your eyes to the possibilities you have right in front of you.
Points 3 and 4 are next.
We shall speak soon.