3 WAYS TO GROW YOUR BUSINESS
Jay Abraham, Consultant Extraordinaire, teaches that there are only 3 ways to grow a business.
What are you doing to increase the income and profitability in your business?
Most people, including me, think that increasing business is a complex giant burden of thousands of possible tactics that one can try but Jay Abraham takes the complex and makes it simple.
Just thinking of all your marketing and business activities as falling in one of these three categories will help keep you focused and will quickly give you a boost in revenues and profits.
I thought I’d share the 3 ways to grow a business and several simple ways that you can implement them in your business.
Focusing on only 3 business building categories throughout our business lives doesn’t seem so bad …..… right!
So what are the three ways to grow a business?
- Increase the number of clients – get more new prospects into paying customers.
- Increase the average transaction – get each client to buy more at each purchase.
- Increase the frequency that the average client buys from you – get each customer to buy from you more often.
What happens to your business when you increase each of these 3 ways by just 10% each? What happens is you don’t increase your total business by 10% or even 30% — you end up getting a compounding effect.
Jay Abraham says by simply increasing each of these 3 areas by 10%, you’ll grow your total revenue by 33.1%. This is a tremendous boost in income.
If I said you should grow your business by 33.1%, you might feel overwhelmed, but if I said increase just these 3 areas by only 10% each you would believe it’s possible to achieve.
Just following this simple formula, you could double your business with a 25% increase in each area.
This is what Jay Abraham calls LEVERAGE.