Wealth-Coaching

When you boil it all down, there are only 3 ways to grow your business. Look at your business this way you’ll expeience new breakthroughs!

Let’s quickly identify the only three ways to grow your business and then lets talk about each and how you can leverage them for maximum advantage.

1. Get More Customers

The first way to grow your business, of course, is to get more customers. If you’re like most business owners you spend almost all your time, effort, and money on this area of business growth.

And without question it’s an important part of your business but here’s the paradox… focusing on this business growth area is seldom the easiest or the most profitable way of growing. Still, most businesses are caught in the trap of working only on this area, simply because they have never thought of or learned how to do anything else.

2. Get your customers to pay you more money

The second way to grow your business is to get your customers to pay you more money. In other words, get them to make larger purchases each time they buy from you. You are after a larger average unit of sale.

Fortunately, this is one of the easiest, fastest and least expensive ways of dramatically increasing profits. It’s ironic that most businesses have extensive and expensive plans to get more customers, but few have any plan or spend any time, money, or resources on increasing the average unit of sale – the dollar size or quantity of each order – which, in reality, can make each sale perhaps as much as 30 to 70 percent more profitable.

3. Get your customers to buy from you more often

And last but not least, the third way to increase your business is to get your customers to buy from you more often. Increase the frequency of purchase for your typical customers.

Far too many businesses ignore their customers after they have made that all important first purchase. This is more than a mistake. It’s a ludicrous, insane and tragic blunder. Did I say insane? After all, you’ve already spent a bundle in marketing, facilities, equipment, employees, and virtually every other kind of resource you have, just to bring them in the first time. It’s insane to expend all that time, money, and effort to simply let them walk away with a single purchase never to see their faces again? NO! NO! NO! Your existing customer base is a huge untapped asset, that when properly "tapped" can bring in gushers of cash. Plus, it’s a lot less expensive to get your customers to come back than it is to get new ones.

Most, everyone enjoys a flow of new customers flowing through the door. And every business has a main method of getting them. For example.

A plumber is going to get a lot of new customers by advertising in the yellow pages. The yellow pages publisher is going to get new customers by employing a direct sales force. The mortgage broker finds the bulk of his new customers using direct mail or referrals.

Odds are that in your business you use one primary method for bringing in new customers, and more than likely it’s "how things are done" in your industry. There is nothing wrong with that, yet I believe you can go deeper. For instance, if you weren’t restricted by the "rules" of "how things are done" in your industry, what else could you do to grow your business?

You see, the number of methods of bringing in new customers is virtually limited only by your imagination. I am goint to give you 28 unique ideas for generating new customers, but it only to get you started. Admittedly, you won’t be able to use every one of them, but there will be many that you can use, that you never considered before.

These ideas are related to the concept of a "Powermid of Profits". This "Powermid" is constructed of massive, strategic "building blocks" of marketing. The strategies for getting more customers form the foundation building blocks for that Powermid. The trouble is, most businesses build on the shaky point of an inverted pyramid. They have that "one way" to bring in the business, and everything else they do is piled on top of that. If something were to damage or destroy that one block on the inverted pyramid – like a new, aggressive competitor, or any number of other factors – the whole unstable structure can come crashing down around (or on top) of you.

The Powermid, on the other hand, depends on a broad array of marketing building blocks… a cadre of marketing techniques, strategies and tactics to give it a strong unshakable foundation. If one or two of your "marketing blocks" are damaged or destroyed, it’s an annoyance and may create a tremor in your bottom line, but the others will support you as you repair or replace, adjust, adapt and resume your climb toward the apex of success.

You may discover that you may be leaving tens or hundreds of thousands of dollars on the table.

And don’t make the mistake of dismissing this as overstatement.

Stay tuned. Come back in a couple of days and I’ll give you 28 way of attracting new cusomters.