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The 3 Pillars Of Growing Your Business

By: Rashid Kotwal

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Imagine coming into the office and having the phone ringing with people wanting to do business with you.

What would your business and life be like if you could increase your profits by 10%, 20%, 30% without a lot of extra effort?

If I guaranteed I could increase your revenue with some simple steps would you listen?

You see, just about every business leaves money on the table. Money your clients would be happy to pay you if only they knew they could.

I'll explain this but first some background…

Every business has 3 primary ways of increasing revenue and growth.

1) You can find more customers
2) You can sell more to each of them
3) You can get them to come back more often.

Having worked with businesses in over 25 different industries, I've noticed that most people concentrate on finding more customers as the primary way to grow.

The whole focus is on getting new prospects in the door.

And while this is a very necessary part of business, it's not the whole story by a long shot.

More than one study suggests that it costs six times more to get a prospect to buy from you than it does to get an existing customer to purchase from you again, and that it's sixteen times easier to sell an existing customer than it is a new prospect.

So once they're in the door, why not sell them more - the classic "Would you like fries with that" comes to mind.

And then once they've experienced your service, why wouldn't you encourage them to come back again and again?

When you add it all up, for every 5% increase in customer retention, you'll generate a 30% to 45% increase in profitability over an 18 month period.

But sadly in most professional service businesses, this doesn't happen.

We don't try and up-sell our services - often through the mistaken belief that our customers wouldn't want whatever it was.

And we don't have programs in place to get them coming back for more.
Often this is because we don't believe we're in "sales" and want to be the "good guys" and be "professional".

However, this is not serving your customer. Your role is to present everything you can that will genuinely help them solve their issues and have them make the choice to take you up on the offer or not.

And if you don't tell them what you can do for them - they will often go elsewhere. And when you ask them why (once you've found out and it's too late), they'll say, "I didn't know you did that - why didn't you tell me".

I know… it's happened to me too.

So why does this happen?

The simple answer is a LACK OF A SYSTEM.

I'm willing to bet you don't have a SYSTEM for getting new business in the door consistently. And a SYSTEM for up-selling. And finally a SYSTEM for getting repeat business and referrals.

Having a system is like having a well oiled machine that helps you grow your business.

Not having a system could mean dropping the ball when it really counts.

Article Source: http://depositarticles.com/

Rashid Kotwal is an international speaker and author who specializes in on-line and off-line strategies for direct response marketing and sales optimization. He works with sales organizations want to get more business, faster and with less wasted effort. You can find more information at Sales & Marketing Consulting and Get Clients Online Fast. Copyright Rashid Kotwal.

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