Not all success stories come from Harvard or Stanford. Some of the most inpsiring stories about accomplishment and success started in the streets. Every entrepreneur struggles. We all have barriers to overcome, paradigms to smash and stigmas to battle. There are a precious few who have much more they need to work through before they even get to the entrepreneurial struggle.
Money wasted in ineffective marketing efforts is worse then flushing cash into the toilet… At least when you send it into the sewer you know you’re doing it. Knowing what your customers are really buying is the first place to look to uncover high value prospects and profitable clients.
The 3rd and final way to grow a business, Increasing transaction average, is the final installment of this 3-part series. You’ve busted ass attracting new clients and getting them to buy more often… now get them to buy more on every occurence and grow your business by +30% with a 10% effort.
Increasing the frequency of transactions is the 2nd part of this 3-part series. You invest a ton of time and money to attract new clients. Why would you just walk away from them? Investment into getting your current clients to buy from you just once more than they currently do has an exponential impact on your business.
There are 1000’s of marketing strategies and millions of ways to execute them. The growth of your business really boils down to these three things no matter which way you cut it. It’s simple, but not easy.
Although it’s great to plan for the year to come, or the next 3-5 years for the direction of your business. The trouble is your business is not built over 5-years. The greatest businesses are built 90-days at a time.