The Only 3 Ways To Increase Your Business


By Stephanie Ward


Would you like to increase your business? In Jay Abraham’s book, Getting Everything You Can Out of All You’ve Got, he says there are only three ways (or a combination thereof) to increase your business and make more money. They are:

1. Increase the number of your clients
2. Increase the average size of sale per client
3. Increase the number of times clients return and buy again

Before we take a closer look at each of these methods, it is important to be sure that the prices you are charging are in line with the value that you deliver. Meaning, if you are undercharging please consider increasing the investment for your products and services.

Now, let’s take a look at each of the ways to increase business and get you brainstorming about how you can apply them to your business.

INCREASE THE NUMBER OF YOUR CLIENTS
Look at your client data to see where and how the majority of clients find you. If you haven’t been tracking this start now and in the meantime just go by memory.

Add up the number of clients from each source, see which marketing strategies are working the best and start spending more time doing them. It’s all about doing more of what works. This may sound simple, and it is. It’s just a matter of doing it!

If none of your marketing strategies are working very well, take time to reevaluate and then begin with something new.

INCREASE THE AVERAGE SIZE OF THE SALE PER CLIENT
Take a look at all of the products and services you offer and do two things. First, think about new valuable products or services you could add to the existing ones to create more interesting packages for your clients.

Next, consider all of the ways you could bundle existing products and services in various combinations to create new packages. Look for logical themes or groups that will appeal to your clients. You could even sell all of your products as one giant package at a discounted price.

INCREASE THE NUMBER OF TIMES CLIENTS RETURN AND BUY AGAIN
A well known fact is that it costs around seven times the amount of money to acquire a new client as it does to sell something to an existing client. Take a look at your existing clients, as well as your previous clients, and think about what kinds of products and services they would like.

Consider creating ‘follow-up’ or ‘next step’ products and services. A great way to find out what they really want is to actually ask them what they need. You can ask via: the phone, e-mail, or a web based survey.

Are you starting to see how you can use these three ways, or a mixture of them all, to increase your business? Take the time to analyze your business, create a plan, and get into action on increasing your business.

© Stephanie Ward 2006

Life & Business Coach Stephanie Ward helps business owners set their profits on fire! Grab your free monthly profit tips plus a bonus report at: http://www.fireflycoaching.com.


More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Management Information:

Related Articles

Write Winning Proposals For Venture Capitalists
You need to secure money for your project. You visit venture capitalists to see if you can get that money.
Management Training: Are You Satisfied With The Results?
If you're not satfied with the results of your management training programs, maybe it's because you handle training as a 'one shot' event rather than a process of developing your people to be better managers.One of the common misconceptions is that a manager can take a course and voila he is now skilled in communicating with others, or managing his time or delegating work.
Tales from the Corporate Frontlines: The Organizational Structure of Our Growing Business
This article relates to the organizational structure competency, commonly evaluated in employee satisfaction surveys. It shows how structural concerns can affect the typical employee workday, as well as feelings towards your organization's management hierarchy and reporting structure.
ISO 9001 and Total Quality Management
Total Quality ManagementTotal Quality Management, or TQM, has become one of the most frequently discussed topics in current business literature. Because of the competitive pressures created by Japanese companies, quality became a competitive weapon in the 1980s in most industries.
Enable Continuous Improvement of IT Services through ITIL
One of the major benefits, if not THE benefit of process orientated approaches to managing your IT services and infrastructure is that it enables continuous improvement.This means that you are never totally satisfied with the current state of affairs and that you always want to improve your services.
Building Shareholder Value Through Your People
Increasing shareholder value is the most important driver for organisations in the modern business world. Shareholder value is built through growing profit and building confidence in the organisation, which moves share prices upwards.
Knowledge Management - Lessons Learned and How To Identify Them
Many organisations use the term "lessons learned" to describe the way in which they avoid repeating mistakes, or ensure that they build on past successes, yet a lesson can only be applied if it has been successfully identified, and captured first. Even in "learning organisations" who profess to be good at knowledge management and knowledge sharing, the process for identifying lessons learned can lacks rigour or depth.
Guidelines For Conducting A Good Meeting
Okay, so you've figured out what kind of meeting is needed, you've planned well and you have all the right materials. How about the meeting itself? How can you be sure the meeting you've so carefully planned and prepared actually comes off as expected?The checklist below can help you through the process.
Christmas and Business Gifts for Your Clients and Employees!
Tis' the season for business and corporate gift-giving! If you believe in the law of reciprocity, and if your business is the least bit successful you must; you know that giving back is not only the right thing to do, but it's very smart business as well. Let's look at some of the benefits and mechanics of Christmas and holiday gift-giving.
You Didnt Use Brainstorming to Select Your Measures, Did You?
IntroductionWhen Alex Osborn invented the creativity technique called brainstorming, I wonder if he had any idea just how extensively business would apply it. Almost every meeting employs some kind of brainstorming event, but there's one meeting that really should leave it off the agenda: the performance measure selection meeting.
How to Coach Your Employees - 5 Simple Steps Anyone Can Do!
Want to get more from your people, but you don't know how? Are you up for a small challenge and prepared to do things a little differently? If so, we have five changes to your style that you will find easy to incorporate into the way you work and your people will love you for it; you will have more time and your business will flourish.Think about it - is that not worth just the little effort required?Stop Fixing ThingsNext time someone comes to you with a problem in your business, STOP, before you give the solution and try the next step.
How to Hold Effective Staff Meetings
Many people believe that they conduct effective meetings, when all they really do is host a party. Or worse, they deliver a monologue.
Resolve Differences
Resolving conflict doesn't come easily to too many people. Most of us want harmonious relationships and smooth interpersonal interactions.
The Power of Positive Communication
Communication is the key to your success at work, at play, and at home. Here are six tips that will make a difference in your life:1) People judge others by their actions.
Making Your Workers Your Partners
There is an inherent conflict between owners and managers of companies. The former want, for instance, to minimize costs - the latter to draw huge salaries as long as they are in power (who knows what will transpire tomorrow).
Magnificent Meetings - 5 Tips for Success
Your impact at meetings will determine in a big way how well youdo in your career. In other words you will rise as high as yourcommunication skills will let you.
The Power of the Contract in Performance Management
An essential step in managing the performance of salespeople is that of establishing a sound and agreed contract between manager and the salesperson. A contract in this context is simply an agreement between the manager and the salesperson as to how best they are going to work together.
Are you NICE or do you CARE?
Are you NICE or do you CARE?Most people and most managers want to be nice. After all, it's easier to be nice than to not be nice.
Innovation Management - Producing Great Products, Motivation
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number of novel ideas.
Commercial Collections Billing Practices Advice
Swiftness is the key to collecting past due commercial accounts because commercial accounts depreciate more faster than consumer accounts.In creating and implementing a billing system, a credit grantor should recognize that time is the safest refuge of any debtor.