How to grow my business: The new strategies with the highest return
“How do I grow my business now?”
It’s the same thought that most small business owners have had at some point.
Especially if they have more of a job than a business.
People expect more from businesses than ever before.
They expect the company to go beyond.
And sometimes it can be tiring to keep up.
It’s hard to move these days without feeling like you’re falling behind.
When everything and everyone around you is moving so fast.
It can feel like you have to sprint to stay in the same spot.
But you know what successful business owners do?
They study the business owners that have been even more successful than them.
And in business, it’s easy to define success.
The company that made the most money.
And that’s exactly what we are going to show you.
How to make the most money possible.
How to grow my business and make the most money possible
Our clients make MILLIONS a month across multiple brands… and we’ll show you what’s working and what’s not, so your precious £££’s NEVER go to waste again!
And you know what, I have no idea how you got to this website.
You might have read about it in some publication.
Or a friend referred you to it.
Maybe you stumbled onto it by pure dumb luck.
But, however, you got here, you have arrived at what is, without question, the most valuable website on the entire Internet!
And this article is going to show you something incredible.
Since I started writing these articles, I’ve received thousands upon thousands of emails.
Each one telling me how my articles have helped them make millions (sometimes tens of millions).
Some saved their health (and, in some cases, literally saved their lives).
Others kept their marriages intact… and… in various other ways… improved their lives.
So, I got to thinking, “Well, hell… if what I write helps people this much, it should be available to everyone… even if… they can’t afford to subscribe to our memberships.”
Therefore, I’ve put all my articles (with some very sparse editing) right here on this website… for… everyone in the world… to read…
Absolutely Free!
And they’ll teach you, step by step, how to grow your business.
Including this one.
So let’s get down to business.
How To Grow Your Business
Growing a small business is a challenging task.
But it’s a little like oxygen.
You need to make a profit and grow to survive.
As a small business owner, you need to be on the lookout for ways to grow your business and stay ahead of the competition.
In this article, you’ll find key strategies and tactics that you can use to achieve growth and success.
So that next time you are sat there thinking “How do I grow my business?”
You’ll know that you have the answers.
It doesn’t matter whether you are starting out or have been in business for years.
Whether you are working towards making your first million or whether you’re a blue chip company.
These tips and insights can help you take your business to the next level.
So, let’s dive in and explore how you can grow your business and achieve your goals.
We’ll start with “strategies.”
Growth Strategies For Your Business
Growth Strategies
If you’re wondering how to grow your business, there are a few main strategies you can use. They are:
Market penetration.
This involves selling more of your EXISTING products or services. It could be to your current customers or to new customers in your current market.
To put this strategy in place, you can make great offers, loyalty programmes, or incentives.
You should design the strategy to encourage customers to buy more from you. You can also focus on improving customer satisfaction and building brand loyalty.
One thing is for sure, if you want to penetrate a market, you have to be great at marketing.
There’s no point in having a great product if no one knows about it.
Market Research.
You can conduct market research to identify new opportunities and target markets.
Most small business owners neglect market research.
But imagine if you could find out what makes your customers buy and where they look when they do decide to buy.
The business that knows the most about its customers will come out on top.
When your doing market research, don’t ask a handful of customers. Use a proper market research company to get thousands of answers.
That way, you’ll spot trends.
And you’ll start to get answers.
Answers that could change the game for you and your business.
Market Research To Grow My Business
Product development.
This involves creating new products or services to sell to your customers.
Customers that exist in your CURRENT market.
Instead of penetrating a new market, you can create a new product.
Use customer feedback to develop products or services.
If you notice that there are lots of customers that all have a need for a product.
And that product doesn’t exist on the market.
You might have an edge.
But it has to meet their needs and stand out from the competition.
The easiest people to sell a brand new product to, are the customers that are buying your old products.
Diversification.
This involves expanding your business by creating new products or services for NEW markets.
The market’s that you haven’t touched before.
To use this strategy and have success, you need to be careful when you choose new markets and products.
Make sure they align with your business strategy and capabilities.
And don’t be the magpie.
That bounces from one idea to another.
Without seeing any of them through.
To achieve growth using these strategies, you need to develop a clear plan and execute it.
With focus and determination.
Here are some practical tips for each strategy:
-
For market penetration, offer incentives and focus on customer satisfaction.
-
For market research, be thorough and tailor your business based on the data you gather.
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For product development, conduct market research and use customer feedback.
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For diversification, be careful when you choose new markets and products.
Other Ways To Grow My Business
How else can you grow your business?
Here’s the interesting part.
Every business, in every industry…
… shares the same chassis.
The same skeleton.
And when you’ve worked with hundreds of different industries, you start to notice patterns.
Here are some of the other key ways to grow a business.
Increase revenue
There are several ways of getting more sales through the door.
First, you can introduce:
a) New products.
By introducing new products or services, you can attract new customers.
That’s going to help increase sales. You can achieve that by developing new products in-house.
Or you could license new products from other companies.
You might even decide to buy companies that offer similar products.
b) New markets.
Expanding into new markets can help you reach new customers and increase sales. You can do that by targeting new geographic regions, demographics, or customer segments.
c) Stronger marketing efforts.
If you could only get better at one thing in business, marketing would be the one to choose.
It doesn’t matter if you have the best product in the world if no one knows about it.
Yet average products, with great marketing, go global.
By getting better at marketing, you can raise awareness of your products or services.
There are lots of different strategies that you can get better at.
It might be:
– Traditional advertising
– Social media
– Search Engine Optimisation (SEO)
– YouTube
– Networking
– TV or Radio Ads
– PR
– Direct Mail
– Content marketing
– Email marketing
– Influencer marketing
– Affiliate marketing
– Pay-per-click advertising (PPC)
– Display advertising
– Guerrilla marketing
– Event marketing
– Referral marketing
– Cross-promotion
– Telemarketing
– Video marketing
– SMS marketing
– Podcast marketing
– Sponsorship marketing
– Co-branding
– Loyalty programs
– Upselling and cross-selling
– And many other marketing channels.
Make marketing sexy
d) Raising prices or improving margins.
By increasing your prices or your profit margins, you can make more money with each sale.
But, you should be careful not to price yourself out of the market or alienate your customers.
There’s plenty of strategies there to help you improve your revenue and make more sales.
Next up is:
Increase efficiency
Increasing efficiency is like getting yourself a license to print money.
Next time you are sat wondering “how do I grow my business?” you can sit back and look at how you can improve efficiency.
Here are a few strategies:
a) Reducing costs.
By reducing your costs, you can increase your profitability and reinvest in growth.
Some simple ways of reducing costs could be:
– Optimising your supply chain
– Improving your processes
– Reducing waste
– Finding cheaper suppliers
– Cutting unnecessary expenses
– And many more.
There’s one mistake that lots of business owners make when they look at reducing overheads.
They remove overheads that help them make money.
So here’s the golden rule:
Only remove overheads that aren’t profitable.
b) Improving productivity
By improving your productivity, you can achieve more with less.
It will help increase your output.
You can do it by streamlining your operations. That might mean automating tasks and investing in training and development.
c) Improve your conversion
You already have the leads, you may as well become more efficient and convert more of them.
How do you improve conversion?
A better sales process,
Scripts,
Dig for emotion,
Sales training,
Reduce risk with a guarantee,
And lots of other ways.
All of those things can help you make more money without ANY extra leads.
Acquire other businesses
This strategy has the potential to be the quickest and most effective growth strategy on the list.
Most people discount it because they think it takes lots of money to acquire a business.
But lots of companies are purchased on “vendor finance”.
That means the future profit of the business pays the owner.
That’s right, the owner gets paid from the profit of their own business.
But when you are looking at buying a company, take these things into consideration:
a) Strategic fit.
If you’re thinking of acquiring a company you should think about the strategic fit.
Look for companies that offer a strategic fit with your business.
This means that the target company should have complementary products or services.
Rather than picking a company that’s random.
It can be helpful if they have a similar customer base or a compatible culture.
b) Due diligence.
Before buying a company, you should conduct a thorough due diligence process.
It’s designed to check the financial, legal, and operational aspects of the business.
It can help you identify any potential risks. You’ll also spot issues and ensure a successful acquisition.
c) Integration.
After acquiring a company, you should focus on integrating it into your business. The biggest thing to consider is aligning the cultures.
But you also need to think about systems, and processes.
As well as retaining key employees and customers.
Stages Of Business Growth
As you focus on how to grow your business, it’s important to understand the different stages of growth.
They are:
Existence.
This is the start-up phase. The focus of the business is on survival and establishing a customer base.
Survival.
This is the phase where the business is generating enough revenue to cover costs. Then they can achieve profitability.
Success.
The phase where the business is growing and expanding. The focus is on building brand awareness and customer loyalty.
Take-off.
This is the phase where the business experiences rapid growth and expansion.
It can often need significant investment and management changes.
Maturity.
This is the phase where the business has established itself as a market leader. There is a strong focus on maintaining profitability and innovation.
Keys to Small Business Success
To achieve success and sustainable growth, small businesses need to focus on 4 key areas:
People
Hire the right people. Then provide them with the necessary training and resources. You should also create a positive work culture.
Process
Develop efficient and effective processes. That should be for each department in the business.
Including sales, marketing, finance, and operations.
Then you should refine them based on data and feedback.
Product
Offer high-quality products or services that meet customer needs and expectations. You should innovate here as well to stay ahead of the competition.
Plan
Without a plan, small business owners can get caught running from one idea to the next. Having a plan that starts with the end in mind can be helpful.
Then reverse engineer the plan to figure out what you need to be doing in the next 90 days.
The 90-day goal should always be moving you towards the “end in mind” or the “north star”.
Plan Don’t Panic
Summary
This article contains it all.
We stumbled across a previously hidden cache of the best business growth strategies in the world (meaning: the ones that worked like a charm)…
… complete with instructions on how to use them.
(It’s stuff you simply won’t hear about elsewhere.)
You can spend a lot of time tracking these little beasts down online, but you’d never find all of them…
… and you’ll never find the instructions either.
Which would put you in the same position as most small business owners.
Where you won’t know which ones worked, how well they worked, or how they came to exist in the first place.
So go back through the article.
And see if you can spot the instructions for ALL 39 strategies.
And if you were wondering where the 39 strategies were. Here’s a list of them to make it easy for you:
Market Penetration
Market Research.
Product development.
Diversification.
How to increase revenue
New products
New markets
Stronger marketing efforts
Traditional advertising
Social media
Search Engine Optimisation (SEO)
YouTube
Networking
TV or Radio Ads
PR
Direct Mail
Content marketing
Email marketing
Influencer marketing
Affiliate marketing
Pay-per-click advertising (PPC)
Display advertising
Guerrilla marketing
Event marketing
Referral marketing
Cross-promotion
Telemarketing
Video marketing
SMS marketing
Podcast marketing
Sponsorship marketing
Co-branding
Loyalty programs
Upselling and cross-selling
Raising prices or improving margins
Increase efficiency
Reduce costs
Improve productivity
Acquire Other Businesses
All you have to do now is execute them.
Properly.
Pick the strategies that you think will work.
Educate yourself on how to do it well.
Then take action.
Once you have a few that work.
You can live large. Be a good human. Love what you do. And hug the people closest to you.
How to grow my business?
