The textbook answer to increasing revenue looks something like this:
- Increase the # of sales
- Increase the AOV (Average Order Value)
- Increase the LTV (Lifetime Customer Value)
While it’s accurate, it’s not actionable.
After helping 100s of clients over a 14-year period earn more revenue, I’ve distilled all my experience down into 4 main actionable categories:
Do The Math
Numbers don’t lie.
- Raise your prices
- Reduce your expenses
- Collect on unpaid invoices
Close more of what you’ve already got.
- Utilize a CRM
- Acknowledge inquiries promptly
- Follow Up
- Take prospects all the way to a proposal
- Offer financing
Get More Active
Most of your competitors are lazy. Use this to your advantage.
- Pound Social Media
- Run a Promotion
- Do Business Development
- Increase outbound
Sharpen The Blade
Become a better version.
- Improve your footprint
- Improve your skills
- Go small, double down on what works.
By taking action in these four categories, do the math, get organized, get more active, sharpen the blade, businesses can increase revenue and become more successful. Remember, numbers don’t lie, so it’s important to track and adjust accordingly.
Leave a Reply