Tag: sales strategy

How To Make Money From A Business

Scott Asai2 Comments

Collaborative post – may contain affiliate links

Making money in a business is easier said than done. Many company owners might make money for so long and then find it’s not coming in quick enough or that they’re simply coasting. With a business, it’s important to be able to change and tweak your processes to ensure you’re always making money, not just for today but for the future too. Here are some tips to make money from a business successfully.

Have Great Ideas

With any business, a good idea is going to take you far, and although you might have started out with a great idea or two, it’s important to keep that up. One way to do that is to hire consciously and to pick out those individuals who are going to influence the business in a positive way. You want employees who are going to be able to continue to test and challenge the old ideas that have been done before. And whilst you shouldn’t fix anything that isn’t broken, you should always be looking to open up new ways of earning an income, and that means being open to more ideas in the future.

If you’re struggling for inspiration, you only have to look at the industry you’re in and to pay attention to others and what they’re doing. Don’t focus too much on competition, but they can certainly be helpful to take notice of when you’re out of ideas and need some fresh ones.

Be Willing To Change & Adapt

You should always be willing to change and adapt to new ways of working when necessary. Life goes on, and therefore, we advance as a human race. We’ve seen the advancements we’re making in technology alone, and that’s driving more in the way of new trends for businesses across a variety of industries. If you’re not willing to change or adapt as a company, then you risk getting left behind or falling out of the spotlight, allowing others to take your place. Your company is always something that can be overshadowed by other businesses that are cropping up, and as you become an older company, it can be hard to stay relevant.

Keep your ear to the ground and always find a willingness to change as and when it’s needed. The same goes for your employees too!

Sell It When Necessary

There will come a time when you might want to sell your company. This can be a great way to earn money, but it could mean that you’re giving up the business altogether. That might be handy for someone who has an interest in building businesses from the ground up and then selling them on. It’s worth exploring this option with business brokers. These can be helpful in guiding you through the process and helping you to get the most for your money.

If you feel like you need to sell the business, then put the feelers out to see how much you’re likely to get. Don’t undersell yourself, though, especially if it’s just not the right market for selling at that point. Wait it out if you can so that you can get the best offer possible.

Review Your Sales Strategy

Your sales strategy is something worth looking at because there are going to be some opportunities that are worth taking when it comes to switching it up. The way you conduct your sales might be outdated, or perhaps you’re simply not making enough of the potential that it does have. Look at any leads you currently have and where you might be, leaving yourself open to losing out. The more you nurture your leads, the more likely they’ll be to turn into sales and profit for your business.

Think about what might need to change or that needs updating to help make more money. Anything from the way you’re customers are spoken to by staff to the customer service offered on a daily basis. It’s all relevant and important to making more money as a company.

Look For Further Investment Opportunities

Investment opportunities are something that comes along for your business every so often, and although some will have risks attached, there will be those that are worth taking. Look at what you’ve done so far when it comes to further investments within the company and seek out new areas to find that extra stream of revenue.

Making money in business is something that is a huge achievement for anyone to sustain, so use these tips to make the most out of the business.

Steps You Can Take To Revive Stalling Sales

Scott Asai1 Comment

Collaborative post – may contain affiliate links

Have your sales slumped? Are you struggling to entice new customers? Have you noticed that existing clients seemed to have slipped off the radar? If your sales figures have stalled, it’s time to take action.

Analyze and evaluate your marketing strategy

There’s no use in having the most brilliant idea or the most fantastic products if you don’t market your business effectively. You need to get your company noticed and ensure that consumers are aware of exactly what you do. If your sales have slowed and analytics show that your campaign isn’t having the desired effect, it’s time to think about how you can improve your strategy, reach your target market and encourage them to take the all-important next step and place an order. If you don’t have expertise in marketing, it’s worth seeking advice and assistance from an experienced firm with a proven track record, such as Rapid Growth Marketing. Marketing experts can identify issues with your current campaigns, suggest improvements and add features that will enhance your performance and deliver results. If you’re falling short, you may be missing the mark when it comes to targeting the right consumers, or you might be relying on the wrong techniques and platforms.

Get people talking

Many businesses find it difficult to maintain the interest of their clients after a product or website launch, a corporate event or the introduction of a new service. At the time, there’s a buzz around the business, but all too often, everything goes quiet quite quickly. To keep sales buoyant, you need to keep people interested. One of the best ways to do this is by offering deals and discounts. Share details of special offers and promotions on your social media, and encourage your followers to like and pass on your posts. Dropping prices or offering a freebie with every purchase, for example, could be just what you need to bring in new customers and keep those who have shopped with you before on board. If you do plan to run a promotion, make sure you’re ready. If you’re giving away products, for example, ensure you have plenty of stock, and make sure your adverts and social media posts specify that the offer is only available until stocks last.

Make improvements

Nothing is perfect, and in business, there’s always room for improvement. Use customer feedback and reviews to make changes to your products and services. If customers at your restaurant have suggested opening earlier and serving brunch, for example, and you’re keen to go ahead, trial the service at the weekends, and advertise it online, on your website and in the local community. Even simple changes, like offering a new flavor or a different size of a best-selling product can make a huge difference.

If you’re having trouble making sales or there’s been a lack of interest in your products or services of late, now is the time to start trying to turn things around. Focus on improving your marketing strategy, drum up interest by running promotions and be prepared to make improvements to impress new and existing clients.

Follow Up Like A Boss

Scott AsaiLeave a comment

Follow-Up

A friend of mine owns a very successful business called Westside Rentals. He built it from the ground up over 10 years ago and now it’s a multi-million dollar company. Mark is a very generous and friendly guy and being an extrovert he gets asked to speak frequently and accepts more times than not. I’ve been fortunate enough to work with him on occasion and hear him present. No matter where he speaks, he always concludes with the following:

Here’s my email address (usually it flashes on the screen), feel free to contact me, I’d love to hear from you.

But here’s where it gets interesting. The more successful you are, the less available time you have. So the caveat is Mark check’s his email several time daily, but one tactic he uses is if he responds to you, he’ll ask that you send him an email 2 weeks later to follow up. 90% don’t. For the 10% who do follow up, he’ll usually stay in contact with you.

This story is unique, but the principle is not. I can’t stress enough as a coach how much people today don’t follow up. We live in a world where distractions are plentiful and focus is becoming a lost art. For example if you send an email to someone you’re trying to contact, the rule of thumb is try 3 times. That means if you don’t get a response within a week, try again. If you don’t hear back after that, try once more reminding the person you understand they are busy, but you’d love to hear back from them. Be specific. Be brief. Be courteous.

Since only 10% of people actually do follow-up, those are the ones who usually reach their goals. Not because they are pushy. Not because they are arrogant. But because they are persistent. Most people give up after contacting someone once because they take it personal. Someone not responding to you isn’t rejection, it’s usually them being too busy or intending to respond, but forgetting to.

Following up is similar to sales. Rarely do you get the sale the first time around, but if you keep at it (albeit you’re not sleazy or annoying) you usually get better results than not. When you follow up, you stay on that person’s radar. Just because they don’t respond initially doesn’t mean they’re not receiving your message. That’s why the “3 times” rule comes in handy. If after 3 tries you still don’t get a response, it probably means you’ll never hear back from them. Go back to what I said earlier: the more successful a person is, the less available time they have. So don’t take it personal, rather take it as a challenge.

If you want to stand out from the crowd, you have to do what everyone else isn’t doing. Follow up like a boss and be a part of the 10% that makes it happen.