4 Ways to Grow Your Business

The biggest issue I think we brainstorm at Mind Masters are issues about growing each other’s businesses. As John Jantsch of Duct Tape Marketing puts it, “The largest … challenge small businesses face is that they don’t have enough leads, and getting more leads is also their number one wish list item… Simply put, leads are the lifeline of every business.”  Members often share what new online marketing strategy they are trying. Over the years I have tried to stress that the cornerstone of any business growth is a good marketing strategy and using at least 3 different forms of communication to really get a leg up in order to make the sale.

As business owners we must recognize that sales is a process of communication between your business, customers, and prospects and there are only 4 ways to grow a business –

  1.  “Increase the number of the type of Clients you want to have.” Here is where people need to narrow the road. The customers and clients you already have, know every new contact you will ever need to succeed”.  How do you grow them? You must learn to ASK for those referrals.
  2.  “Increase the transaction frequency of each client/customer.” If you take those relationships for granted you may lose your market advantage. Your customer relationships are something within your control. When you develop and nurture them they eventually cultivate greater fruits over time. How often do you connect with them?
  3.  “Increase the average value of each sale.” What is it that you do that makes you stand out from the crowd? Client relationships aren’t about a transaction, they are about serving, helping, and benefiting clients in all ways possible to help and support them to achieve their goals. Have you asked enough questions and listened to know what their goals are?
  4. “Increase the effectiveness of each business process.” To establish and then continue to stay top of mind with customers and clients you can create resources that your clients will value. When was the last time you found a news story, article or piece of content that you believed your clients would value (or find interesting) and sent it to them?

With all the competition, options and distractions all reaching out to get a piece of your clients’ attention you must be the one that shows up consistently for them. That is how you will grow your business.

The Challenge: Choose one of the 4 options for growing your business and work to strengthen it.