The Power of Ten
Did you ever wonder how many ways there are to increase your business revenue? Ten, Fifty, One Hundred? Well the good news is there are onlyTHREE ways to increase your business.
1. Increase the number of clients
2. Increase the average size of the sale per client
3. Increase the number of times clients return and buy again
OK– so how do I do that?
1. Increase the number of clients
Attend BNI every week, tell people the type of referral you are looking for,
and the clients should come.
2. Increase the average size of the sale per client
You don’t have to increase your prices. Use some of the tricks that you see in
the supermarket – buy two get one free, if you’re in services, why not offer
to sell 5 days for the price of 4 or bundle in some extra advice for a special
price.
3. Increase the number of times clients return and buy again
Have an invitation only event or promotion for your existing clients – maybe
a discount voucher, think about new products and services that you can offer
which complement what you already do.
So what could be the effect of a modest 10% increase on all three?
| Clients | 200 |
| Average Sale | £100 |
| Average no. of transactions per year | 1.5 |
| TOTAL REVENUE | £30,000 |
Increase each of these by only 10%
| Clients | 220 |
| Average Sale | £110 |
| Average no. of transactions per year | 1.65 |
| TOTAL REVENUE | £39,930 |
CONGRATULATIONS – YOU’VE JUST INCREASED YOUR TURNOVER BY 33%!!