Who doesn’t want their business to grow fast? I rarely talk with an entrepreneur who is patiently waiting for his business to grow organically. We all want to charge ahead and achieve our goals and then set bigger ones.
I talk here about why entrepreneurs fail to grow their businesses, but in this series I will share a few ways that you can grow your business fast and without the typical hassles that come with growth.
Stop Looking for New Customers
Most entrepreneurs are obsessed with finding new customers and in the process neglect the ones they already have. Indifference will drive your customers away.
Entrepreneurs spend countless hours and loads of money trying to attract and convert new business. Software companies, marketing firms and consultants are cashing in big time on this desire we all have to get new blood into the company.
If you want to grow your business fast stop making getting new clients a priority.
Grow Your Business with Current Customers
These people already know, like and trust you. Give them more attention and they’ll give you more money and referrals.
Check out this example:
The left columns shows you’ll sell $30k worth of your stuff if you sell your 60 existing clients at an average sale size of $500.
The right column shows selling the same 60 people, but finding a way through up-selling or price increases that amount to only 15%. Your average sale jumps to $575 which brings in $34,500.
The difference is $4,500 which equates to adding 9 new customers at the original $500 per transaction.
Provide a Better Experience to Grow Your Business
Your existing customers want to work with you. They want to spend more money with you. The one condition is that you continue to add value to them and help them with their problems. If you remain relevant to them your sales will increase without needing to find more customers.
What will you do this week to grow your business? How will you make your existing clients feel more connected?
Ready for Part 2 of how to grow your business fast? Read it here.
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