Four ways you can Grow your Business

Jan 3, 2017

There are only four ways to grow a business:

  1. Increase the number of customers
  2. Get them coming back more often
  3. Increase the average spend
  4. Improve the effectiveness of every business process

Too often businesses lose focus on these growth drivers. To ensure these drivers aren't neglected businesses should hold a regular team meeting to brainstorm ideas about how growth drivers can be improved, set a clear goal and prioritise the top three actions to be implemented before the next meeting.

Examples of projects you may be able to implement include:

Increase the number of customers

  • Identify WHO customers are and nurture them
  • Referral campaign
  • Introduce an online store

Get them coming back

  • Birthday emails and texts
  • Record customer preferences and personalized emails when new pieces became available

Increase average spend

  • Test price increases
  • Reduce discounts (offered to customers who didn’t ask for them)
  • Let customers know about other services/products you offer

There are hundreds of ideas out there, but if you try to implement a hundred things, you’ll likely do nothing. Plan, prioritise, and implement a small number of things. And if you need an unreasonable friend to hold you accountable or help with ideas, just get in touch with us!