My business coach, Will Ezell taught me the 3 Basic Steps to Grow a Business and want to share them with you. I believe that you’ll find them beneficial! I’m using these steps to grow my businesses and hope you do the same.
Whether it’s part of your job or you’re an entrepreneur, every professional should know the 3 basic steps to grow their business. Here are the 3 steps:
1. Obtain and retain your clients: You have no business unless you have clients. Once you have clients, your job is to do everything humanly possible to keep them. It’s easier to keep current client than retaining new ones. It is important to keep your clients happy for they pay your bills. They are the company. They are your bosses. They are the fuel to your business growth.
2. Increase Average Transaction Value: This step is important because it is the button line. If you have a business, but you not making money, you will soon be out of business. Therefore, it is your job to show value to your clients and compel them to buy from you and not your competitors. They are going to spend money, why not spend it with you. One way to increase your average transaction value is to sell valuable products or services that your clients want and need. You do not have to be a “pushy” sale person, but you must sale to survive in business. You may have lasting result in selling by applying soft sale techniques when offering your products and/or services to current and potential buyers.
3. Increase Annual Residual Value: The third step to grow your business is to offer valuable services or products that your clients need; and they buy it often. If you listen to your clients, they often will tell you what they need on a regular basis. When they ask, you must deliver on time. Even if they product requested is not a customary item that you sale, you have the responsibility to keep the client engage and happy.
If you have to partner with someone else to meet your clients’ needs and wants, I highly recommend that you refer them to someone or a company that you trust. The key is to keep your clients engage to buy from you as often as possible.
The 3 steps to grow any business are: obtaining and retaining your clients, increasing average sale value and increasing annual residual value. Let’s face it; to grow your business is a process. I encourage you to be patient and pursuit your goal. Keep on discovering ways and tools to grow your business. The results are worth the efforts! I hope this blog provides you with valuable contents to start your business grow process.
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