When business owners think of business growth, they often think first of new customers. New customers are great, and we all want them, but there are often more effective—and less expensive ways—to grow your business. Learn the five ways to grow your business to help achieve business success.
Here are five ways to grow your business: keep the customers you have, sell more to the customers you have, sell more often to the customers you have, get new customers, and get rid of the problem, or low-value, customers.
EXPERT TIP | Gary Furr, Organizational Development Consultant:
The best way to grow your business is to keep the customers you have. The cost of new customer acquisition cost can be high; strengthening your relationships with your current customers is much less costly. When you have a strong relationship with your current customers, you can sell to them more often, including additional products and services without a lot of added cost.
Do not neglect the customers you have. They’re yours already! It’s usually a simple equation: If you want to sell more, communicate more with the customers you have. If you want to sell less, communicate less.
To read more about the five ways to grow your business, see Chapter 13 of my book.
With over 40 years of C-level business experience and an MBA in organizational development, I am uniquely qualified to help you achieve success in your business. Give me a call to set up a free consultation: 503-312-3145.
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