Regardless of your views on Brexit, potentially there are major changes on the way within the European Community. It is impossible to forecast the scale of these and how they will impact home markets. It was reported in the news that import costs had risen 20% due to the fall in sterling against other currencies. […]
If you’ve listened to the top business and personal development coaches, the common theme with all of them is that you must set goals. These goals should be big and scary and you should have many goals to cover different aspects of your business and life. The theory is simple. Without setting goals, you are […]
The phrase “business growth” has been considered the most important goal for virtually any business. It’s often talked about as the only goal worth pursuing, and yet, is it really the business version of the Holy Grail? For years, I believed that a business either grows or dies. It’s a phrase and belief developed from […]
So far we have covered two aspects of selling more to your customers which is through product creation (Part One) or the clever use of upsell and downsell, even to the point whereby a product is offered free of charge with your customer paying the shipping fees (Part Two). This final part looks at the […]
In the first part of this article the focus was on developing your product range and in particular your next generation products. The example provided was the iphone where Apple apply a “tick, tock” approach, providing small incremental changes every year. These are sufficient to please enough customers to upgrade their existing handsets, however they […]
Growing a business sounds exciting. If you have growth aspirations for your business, then I hope you feel that excitement every day…you should. For solo entrepreneurs multi-tasking and just getting through the day can be an arduous and draining task, albeit highly rewarding. Managing a solo business and trying to be skilled in all aspects […]
Accountants will tell you that the key numbers in any business revolve around sales, gross profit and net profit. These are the result of the marketing, sales, production and delivery teams doing their part in generating activity. This article is not disputing this. However, I believe there are other key numbers in a business which […]
In this final part of a 3-part series, let’s discover ten sub-strategies to increase the average spend per transaction and reduce attrition. You’ll recall that the four strategic ways to grow your business are: Increase your customer or client numbers Get your customers to buy more frequently Get more customers to spend more money per […]
In part 1 of this 3 part article series, I reintroduced you to the four strategic ways to grow your business. As a quick recap, they are: 1) Increase your customer or client numbers 2) Get your customers to buy more frequently 3) Get more customers to spend more money per transaction 4) Reduce attrition […]
In times of uncertainty, instead of looking at ways to ‘grow your business’, many business owners make the fatal mistake of either doing nothing, or shrinking their operations. Perhaps the thinking for the latter strategy is that by saving money now there may be spare cash in times of need. In my experience, the worst […]