Know who you want as your customers and know what they want!
Your prospects language revolves around “How do I want to feel?”
So the key here is to think like a prospect and communicate using their language in your marketing and advertising .Use the words they use in their heads and don’t think like an owner.
This will help you to connect with them and will feel like you have what they want and that you understand them.
Focus on current happy customers that have already spent their money with you.
New customers take more time to acquire, existing customers have no fears.
Find ways to bring those customers in time and time again, e.g. if it’s an appointment book the next one, follow up, qualify what they need next that will enhance their purchase or service.
Focus on increasing their return trade this will make a significant increase in sales.
Know your numbers
Set up a data base like http://www.sugarcrm.com/ that can analyze your figures e.g. sales made per week, per month, bank account balance, number of leads generated from marketing and advertising, the conversion rates to sales, and average profit margin. By watching these figures you will be able to see what’s working and what’s not and what to concentrate on and where to invest more money and time.
Improve sales conversion
Look at the steps of conversion from advertising to close of sale, find the weakest link and focus improving on that area and repeat the process regularly .The higher the ticket item the more steps that need to be analised.The weakest link is an indicator of what you will need to concentrate on improving and optimize your time management on this subject. Look at the whole picture and be objective in order to improve the conversion.
Know your costs
Pay all your invoices yourself, question each one.
Do we need this? Can we save costs in this area and how?
Create uniqueness that comes from your client’s point of view, what makes your service concept or product unique? It may be physical or technical or just a perception. It is your mission to create what’s desirable to your clients.
When you are managing the operations of the business efficiently and getting consistent results. It’s time to leverage your business.
Start with joint venture partnerships by working with people that are not in competition with you but have the same target market.
What else are your clients likely to buy that links to your business? Work with complementary businesses. Think outside the box, this will enhance your data base of clients and can test how your business model can handle an increase in sales and production.
See the full article in SMP BY Richard Giannnini Business Growth Advisor at Infinity Growth