Community//

3 Ways To Grow Your Business

You may be surprised to learn there are JUST three ways.

3 Ways To Grow Your Business

You may be surprised to learn there are JUST three ways.

And I call each for these “the business multiplier” – for obvious reasons!

So in order to successfully grow your business then you need to be using all 3.

If you do, then I guarantee your business will quickly reach, or at least get very close to, its potential (now what it’s potential is, will be the subject of a different post!)

You see, what happens for most business owners (regardless of how long they have been in business), if growth is an issue, then in my experience, you are only using one or two of the business multipliers (and those that you are using, could probably benefit from being revisited)

So here they are…

‘The Business Multipliers’

  • MULTIPLIER 1: Lead Generation – Getting More Qualified Leads

– How many leads are you bringing in each day/week/month

– How are those leads finding you at the moment?

– What is the quality of those leads? Are they ready to buy or are they tire kickers?

  • MULTIPLIER 2: Sales Conversion – Generating More Customers From Your Leads

– What is your current conversion rate?

– Does your conversion rate differ for different lead sources?

  • MULTIPLIER 3: Customer Maximisation, which includes:

– Increasing the Average Sales Value

– Increasing the Number of Purchases

– More Referrals from Customers

– Increasing Buying Lifetime

– Reducing Customer Losses

There are, of course, numerous proven strategies you can apply to massively improve each of these three Business Multipliers and by combining the power of each multiplier you have the ability to grow your business to heights you never thought possible.

Action steps

Revisit the 3 business multiplier areas in your business and rate how you think you are performing in each of the 3 areas.

Do you know the stats? (number of leads, conversion rate etc)

What area needs to be looked at?

Originally published at www.annetteandco.co.uk

The Thrive Global Community welcomes voices from many spheres. We publish pieces written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Learn more or join us as a community member!
Share your comments below. Please read our commenting guidelines before posting. If you have a concern about a comment, report it here.

Sign up for the Thrive Global newsletter

Will be used in accordance with our privacy policy.

Thrive Global
People look for retreats for themselves, in the country, by the coast, or in the hills . . . There is nowhere that a person can find a more peaceful and trouble-free retreat than in his own mind. . . . So constantly give yourself this retreat, and renew yourself.

- MARCUS AURELIUS

We use cookies on our site to give you the best experience possible. By continuing to browse the site, you agree to this use. For more information on how we use cookies, see our Privacy Policy.