Retrain your brain.
It’s important to retrain your brain to think positively about your business at all times. It’s not natural for most human brains to do that.
Think about the last time you had a problem in your business. Did the pressure escalate to boiling point and compound to more problems?
If so, reverse the thinking. Try to improve something in your business by just 1% per day. Reverse the negative compound to a positive one.
But, you say, ‘I don’t have the time.’
You have 24 hours in your day. Try the 1% factor here too. That’s 1440 minutes. One percent of 1440 minutes is 14.4 minutes. Surely you can invest 14.4 minutes of your day to change a habit?
Increase the number of potential new customers.
Improve the efficiency of your marketing activities. Analyze the success of your existing marketing and advertising and change strategy if the results are not flowing in. Focus on the habits of your target audience and know how to reach out to them. Aim to increase the number of potential new customers by 1% per week.
Increase your customer conversion percentage.
Aim to increase the percentage of your potential customers who complete the desired action of buying from you. Whether you use account creation, an ebook download, a newsletter sign up, a contact form or some other method of acquiring new potential customers, make minor improvements to entice more customers to buy per week – you only need a 1% growth per week.
Increase the number of new customers.
Aim to sell an extra 1% per week. Think about:
- Introducing new products or services.
- Market research and the testing of new markets.
- The enhancement of sales channels and marketing activities.
- An improvement in community relations.
- Refining customer service policies.
Increase revenue per transaction.
Don’t try to grow your business by only increasing your number of customers. Reach your goals faster, with fewer customers. Use less effort and expense! Do this by:
- Increasing the perceived value of your offering.
- Positioning your business at a higher level of quality than your competitors.
- Upselling and cross selling.
- Packaging up products and services that complement one another.
- Offering discounts for bulk purchases.
- Promoting point of sale/online shopping cart check out incentives.
- Educating your customer on your full range of products and services available and the benefits of all.
Increase the number of times your customer buys.
Introduce the following ideas, little by little:
- Rewards/points programmes.
- Referral programmes.
- VIP programmes.
- Exclusive discounts for loyal customers.
- Incentivise repeat purchases through target personal campaigns.
- Email retargeting to win back lapsed customers.
- Ask customers for product and service reviews and experiences.
Increase your profit margins.
Let’s dive into some ways to increase your business profitability by streamlining your operations and reducing operating expenses:
- Cut excess staffing and overtime.
- Analyze areas of waste.
- Reduce supplier spend.
- Streamline fancy packaging.
- Automate business processes for repetitive activities. There is a wealth of apps out there which will streamline your time and increase your productivity.
Try to improve in each of the above areas regularly and watch for long-term growth.
Tiny gains are powerful, OVER TIME… Tiny gains yield long-term success.
There is no quick fix. Define your PROCESS and stick to it, PRECISELY.
And if you falter? We’re all human! Get back on track quickly!