How Do You Grow Your Business

How Do You Grow Your Business

Here I'd like to talk to you about three different ways that you can grow your business. I've discovered that these are the three ways. In fact, the only three ways that you can actually grow your business.

Choosing the right business in the current economy can be challenging. For many, in order to stay ahead of the competition, they have to diversify their products and services. If you are looking for a way to expand your business and grow, then this is an article that you will find useful.

Business growth is the most important thing for most companies. Increasing revenue is the key and they're always looking for ways to expand their market, grow their customer base and diversify the company in order to be prepared for emergencies. 

The 21st-century economy has created a million new businesses. But only a few of those will succeed. There are many factors that contribute to a business’s success or failure: management, culture, marketing, strategy, and product, just to name a few. 

Today I want to speak directly about the topic of business growth because it is one of the single most important driving forces behind great businesses. If you’re not growing your business then you will eventually fail. 

It’s as simple as that: no growth equals no income which ends your life as an entrepreneur. I won’t write a lot here because I believe action speaks louder than words. That being said, I hope this content piques your curiosity and inspires you.

How Do You Grow Your Business

#1. Increase Your Customers 

The first way is to increase the number of customers that you get. That doesn't sound like rocket science, does it? But there's a couple of ways you can do this. 

One is to increase your current conversion rates. So that is if it takes you every four people you see you sell one product or service. 

Then if you have a good sales process put into place and it's followed religiously, you might be able to get that to a one in three conversion rate or perhaps one in two, therefore increasing the number of customers that you get. 

Another way would be to increase the number of leads that are coming through the door or via email or via phone. That would be another way to increase those customers too. 

#2. Increase Your Value

The second way is to increase your value per sale.  Now there are various ways to do this, but one would simply be to create more profit in each and every sale that you make. There's plenty of others. But that's just one example.

#3. Increase The Frequency Of Your Sale

The third way is to increase the frequency of how often you're making sales. So, that is how often, as I just mentioned, but be it might be getting customers that you've already sold to become repeat purchases. 

So they're buying from you again and again and again, and there are processes and strategies to increase the likelihood of that happening that are very simple to implement.

Bonus Tip For Grow Your Business - Referring People 

Another way is to increase your repeat and referral business that is having structures and processes in place to get your current customers to refer others to you when you do that. 

People that are referred tend to be easier to sell to and you also tend to make more profit because there's the trust factor there because they've been referred to you. So it's a really powerful way to do it. So, these are four ways to grow your business. 

So what I want to ask you is just for a second imagine how it would feel if you had each of those three things. So you've increased the number of customers that you're getting. 

The value per sale is also increased and the frequency of how often you are making sales improve. What difference would that make to your life? What would happen to your business for your friends and family? The lifestyle that you lead, it is an amazing feeling. 

But before we get there, we have to look at first what can get in the way. Now, the most common frustrations that business owners experience is, following one are a lack of hunger in the sales team and not maximizing sales opportunities. 

This relates to the guy with the burger and the ice cream. By the way, I can't tell you how many times we've spoken to business owners or managers and they're just so frustrated that the hunger is not in the sales team, it's just not there and they're missing opportunities. 

Sales are slipping through the gaps. Does that happen for you? Another frustration is that salespeople are just doing the minimum. They're not doing the basics well. They're just getting away with what they can to get paid and get through the day. 

They're not going the extra mile. It's extremely frustrating. That's the guy with the paper airplane. Maybe for you, your team on Facebook, on texting, or on social media or whatever it is that's distracting them. 

We then got inconsistent sales performance. How is that for you? Do you have good months and then bad months, average months and it's a little bit like this? Imagine if you could have consistent months where you're actually improving month on month. 

I understand sometimes depending on what industry you're in, there may be seasonal changes. But imagine for the most part that you have really good consistency in the number of sales that you're making. So you can easily predict what's going to be happening in the future. 

And the final one on this list at least is inconsistent motivation levels. In fact, a recent survey that we did of business owners and managers, came out in the top three, which is again inconsistency but in motivational levels and what the managers and owners shared with us is that it's really draining, constantly feeling like you've got to motivate the team to get them to sell. 

Do you experience that yourself? If you do, it's not a, not a nice feeling. It could be very, very draining indeed. So what about you? What about other frustrations or challenges that you currently have? Please let us know in the notes below or send us an email. 

I'd love to know what they currently are and if we can help, because there is a solution and that solution to all of these frustrations and the three key points that we talked about, the ways to grow your business and the solution is this it's called Next Level selling transformational sales program. 

You see it's designed to do three things. The first one is that it's designed to increase your number of customers. It's also designed to increase your value per sale. And the third thing is designed to do is increase the frequency of your sales. 

Does that sound familiar? That's because every single thing that we do, all the content, we have every strategy, every process, every system is designed to help you with those three things. 

If you would like to know more information, please follow us on the website. In fact, have a look at the website, please have a look around. There are some excellent free resources as well. And just so you know that future content that we put out whether that's via a blog or social media, will all be in reference to improving those three areas. 

So I hope you found interesting things through this article topic of how to grow your business.