5 key ways to grow your business
Do you want to grow your business?
Most business owners do. Pretty much, every business owner and entrepreneur I speak to wants to grow their business.
How can you do that?
Practically, how can you grow your business without having to work every hour known to man?
How can you grow your business without sacrificing you in the process?
There are 5 key ways you can grow your business by increasing your:
- Lead generation: this refers to any strategy you use to get people to call your business or walk through your doors, opt-in for your online free gift or message you on social media. Perhaps you nail your marketing message, your press release is featured in all the local media outlets or your new website becomes ultra-popular.
- Conversion rates: these are any strategy you use to get people to buy from you, to invest in you, to pay you for your services. You could improve your sales process, or hyper-niche so your ideal clients know exactly who they are and how you can help them.
- Number of transactions: here we’re talking about any strategy you use to get existing clients to buy from you more often and to stay loyal to your business for longer. Maybe you sell a package of sessions rather than one-off, introduce a loyalty program or expand your range of services.
- Average sale: ways you use to encourage your clients to spend more money in a single transaction. Could be you increase your rates or you upsell to a VIP service or add-on products.
- Profit margins: this relates to any strategy you use to maximize the percentage of the cost of each product/service that is profit for you. Perhaps you eliminate unnecessary subscriptions, lease out that vacant space or receive improved pricing from your supplier.
When you implement strategies in one or more of these five areas you will grow your business without sacrificing you in the process.
When you implement strategies in one or more of these five areas you open up the potential to expand your profit exponentially. How good would that feel?
Reach out if you want help with any of this xx
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Daphne Wells, Inspiritress of Can-do-it-ness and founder of Passion for Growth, helps eminent women leaders navigate change, get crystal clear and into action on your secret dreams.
Her true magic lies in her ability to clarify, to see possibilities, create ideas and inspirit you to implement.
As a young woman she quietly and effectively changed an industry, opening doors for women in a previously male-dominated field. For many years Daphne has guided leaders to be more effective in their roles.
Courageous and high-achieving women business owners, leaders, coaches, service professionals, therapists and entrepreneurs round the globe, all of whom have big hearts and yearn to make a difference and make money, hire Daphne so they can be clear and focused on their forward direction and growth.
As a certified professional coach, mastermind leader and facilitator, with a history of birthing and growing small businesses, Daphne has a deep passion to inspirit eminent leadership.
She lives in the beautiful South Island of New Zealand from where she works with high-achieving and courageous women leaders, business owners and entrepreneurs worldwide. She’s President of ICF NZ Southern.
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