Here are some ideas on action you can take to to create a surge in sales revenue:
- Create a USP (Unique Selling Proposition) for your product or service (see my previous blog)
- Develop your USP so that is keeping up with current market trends
- Make sure your product/service solves a problem
- Make sure you have a living Business Plan – review it regularly, make sure it is kept up to date with market changes
- Know and define your customer – everything you do should keep your customer in mind
- Have the best skilled staff you can get (I have lots of ideas on Recruitment and Retention)
- Make sure your decisions are based on solid data – not guesswork. Monitor your metrics.
- Get your pricing right- but don’t have it too low. If your USP is right you could get a premium.
- Learn negotiation techniques (selling or buying can be influenced)
- Use your Social Media and Website where appropriate (adapt, adjust and keep up to date).
There are many ways to boost your revenue or to counter a downturn in the market. It’s all a matter of being conscious of how your business is performing and taking the necessary action when required.
Get in touch with me to sit down and discuss your business over a coffee.
P.S. This article is part of my Secrets of Success series, aimed at helping business owners and entrepreneurs with some of the key components of business success. The insights I wish I’d had at the start of my business career. I hope that by passing on these little gems of knowledge I can give you some support and help you along the pathway to growth and prosperity.