Tips for really making your business grow
Growing your business may be easier than you think. Just follow this month's Top 10 Tips and see how much you can achieve.
- Begin with the end in mind
You must have a vision of what you want the business to look like in the future. Make this vision a part of everything you do. - What you can measure you can manage
How many customers do you have right now? How many customers do you gain/lose every year and what is the lifetime value of a customer? As soon as you start to measure these things, you can look for ways of making improvements. - Test everything!
Keep an open mind and test new ideas to see what the effect is. - Speak to Business Link
They can help you by carrying out a Business Improvement Review. With their skills and experience, they can help you identify opportunities and exploit them to the full. - Involve your Team
Involve your Team and ask them for their ideas. They will often have ideas that will astound you! - Be content...
To have your people do things 80% as well as you can if it gives you time to do something more important. - If you're a greengrocer, take your customer oranges
A small gift from your business may cost very little and have a profound effect on the customer. - Create a package
Bundling products together may provide an attractive option for the customer and increase your sales. - Build a system for generating referrals
Turn every one of your customers into a raving fan for your business. Referrals may be your best source of new customers and cost you nothing. - Take away the barriers
Ask your customers, "How could you do things better?" You may find that the way you answer the phone or greet people when they come into your shop is having a negative effect. There has to be a better way! - Take a pencil to it!
What would happen if you increased your prices? Do the calculations and you might be surprised at the result. You may be able to increase your profits and create more time.