Insight (by Chris Hansen)
Business Building Success Strategies
There are only three
ways to grow a business:
-
Get more customers
(i.e. marketing, prospecting);
-
Get more business
from current customers (i.e. broaden your product line, suggestion selling);
and
-
Get your current
customers to purchase the same product more frequently (i.e. through
education or addiction).
If you do one or two
of these things, you will be able to grow your business incrementally and
arithmetically. If you do all three of these things, getting new customers
through effective marketing and efficient prospecting, broaden their purchases
from you by expanding your services to meet a greater percentage of their needs,
and get them to purchase more frequently by teaching them to use your products
or services more frequently, in effect addicting them to your offering, you will
grow your business geometrically.
These strategies
address methods and practices that will enable you to do each of these things.
The major emphasis, however, is on marketing, getting new customers. It
presupposes that your offering can be expanded to meet more than its
introductory value and that you have the possibility of or desire to increase
both breadth and frequency.
An
increasing number of our members are asking for specific marketing tips to grow
their homebased business. Since the question is a very broad one, we would like
to answer your specific questions. Please e-mail us with your marketing
questions. We will answer them directly or provide you with an answer from our
extensive archives.
Until next time,
Chris Hansen
Neptune City, NJ
January 18, 2001
