#14 Business Growth: 100 Ways in 100 days
Many businesses want to grow, they want greater revenue, and they want greater return for their investment.
Understanding if a client is returning to purchase versus a new client purchase is very important when planning for growth. Getting clear on New Business numbers and knowing the baseline figure can be hard to find yet critical in understanding and setting KPI’s for the business.
Knowing how often a client buys, their patterns,the current & past retention rates, the life time value and also the new business numbers are important fo any business.
Finding these answers give clarity on where a business should focus in order to grow. Increasing average spend, increased purchases and increased retained clients will give a business growth without focusing on an external market. Focusing on internal functions and delivery can help the business grow by maximising the business that has already knows the brand.
The challenge here is to *invest time in these areas. (*note the word INVEST!) Investing an hour a week on Business Development can help retain a client, maximise a current client and can also help gain a new client.
How much time does your team invest each week?
#entrepreneur #businessgrowth #sales #today #businessdevelopment
________________________________________________________________
About the author:
Tim Lavis is a highly skilled business coach working with corporations, SMEs, NFP’s and executives developing leadership & strategy. Tim develops growth strategies, advance leadership skills and business development programs for business leaders wanting to grow their revenue.
Tim works with many Australian businesses in helping them grow and develop their business. Tim asks the tough questions, enjoys some banter and helps to change your perspective on situations. If you need someone to challenge your thinking while growing your business then Tim is your expert.
