Everyone is trying to grow their business. Well, almost everyone. Occasionally, we run into that business owner that says, “I don’t want to get any bigger”. While they may have legitimate reasons, the old saying still holds true, “If you aren’t growing, you’re dying”.
In our industry, we are expected to grow, and the emphasis is usually on selling more advertising than you did last year. Regardless of the industry, the 3 ways to grow your business remains true.
Here are the 3 ways to grow your business:
1) Sell more of what you are currently selling
2) Increase the price/rate on what you are currently selling
3) Offer additional products/services to what you are currently selling
If it were only that easy! There are many points, counterpoints, subtitles and bullet points that go behind each of these three statements. But, regardless of how you slice it, everything will fall into one of these three categories. Keep in mind, I said 3 ways to GROW business, not increase profits. Then, you can add a 4th element which is… Cut Cost!
These three points are not only a good lesson for us in the media business, but it’s good information to pass along to the clients and prospects that we call on. When you point this out to them, at the right moment, your knowledge of business will be evident. It gets them thinking and they will admire you for it. You may get some push back from “that client”, but I have never had anyone come up with something that doesn’t fall under one of these three ways.
If you come up with one, please share it with me. Knowledge is Power! Like you, I strive to “Get Better Every Day”.
Happy Training!