Generally there are only three ways to grow your business:
- Increasing the number of customers or clients
- Increasing the value of the average transaction
- Increasing the frequency of re-purchases
This is where you need to analyse your business and be truthful and honest with yourself as to what’s happening here. Look at the finances and where money is coming in and going out.
What is your turnover?
How big is your database?
Which of your clients is bringing in the majority of the income into your business?
Look at the systems you currently have.
What are the systems you need to have in place to generate income?
What isn’t working?
What do you need to do about it?
One of the key traits of all successful people is that they are able not only able to see the big picture, but they are also able to analyse the detail too. This doesn’t mean they have to be accountants or technical wizards but what it does mean is that they know the right questions they need to ask themselves before they have to make a decision.
Start today by putting on place everything you need to track, monitor, to test and analyse what’s going on in your business. This way you will be constantly aware of the micro as well as the macro aspect of all your business activity.