4 Ways To Increase Your Business Revenue in 2012
There is a logical, systematic way to increase your business revenue year by year. 
Apply this formula and you will be ahead of many of your competitors.
Have you ever read a business book or attended a seminar, hoping to gain some insights on how to grow your business… only to find their solutions too complicated to really implement?
It’s (not) complicated
Good news. I have a simple, yet profound formula you can follow that will help you systematically grow the revenue of your business.
It turns out, at the end of the day, that there are four, and only four ways to increase your revenues:
- Get more customers or clients
- Get your customers to spend more per purchase
- Get your customers to spend money with you more frequently
- Get your customers to stay with you longer (so they spend more lifetime dollars with you)
That’s it. It helps cut through the fog of business growth principles. It gives you hooks to hang your revenue generating ideas upon. It also reveals often overlooked areas of revenue.
How to use the formula
The key is to use this simple formula to break down the moving parts of your business. Then, evaluate each piece to figure out how you can improve each area.
For example, revenue increasing way #1 should get you to evaluate how and where you are getting your customers from. List all the ways you generate leads for your business.
Then ask:
- Which sources are proving to be your best resource… especially in terms of time and cost per lead? How can you increase these avenues?
- Which ones do you continue to pursue that are not as valuable as they once were? Are they now costing you too much time or money? Figure out ways to discontinue or scale back on these.
- What new sources of leads and customers should you look into?
You can download our free report, 15 Proven Ways To Grow Your Business, which explores this topic in greater detail.
Another helpful example
An example of revenue increasing way #2 would be to think through ways to increase the amount of revenue generated per customer.
Ask yourself:
- Can I raise my prices… at least on some select products and services?
You may be VERY surprised at what your customers are willing to pay. Studies have consistently shown that if you position your products/services in a certain way, at certain price points, you can get a higher price (assuming you can demonstrate value). You can read more about how to get your customers to spend more per purchase by clicking on the link.
- Can I target a higher dollar or higher margin client?
Many businesses expend a lot of their time and energy serving and selling barely marginal products and services. They reason, “Hey, business is business… I’ll take what I can get.”
Instead, you need to recognize that as long as you are spending a chunk of your time chasing after and servicing these types of customers, you will not have the time or resources to find and meet the needs of higher margin, higher dollar clients. You must intentionally choose to target and grow that segment of your business… over time. It will pay off handsomely.
Here is a final, powerful thought: We have one huge advantage over previous generations—the ability to easily measure our results… and methodically make adjustments.
How? You can read about how to increase your business revenue step by step by clicking on the link. Step by step, piece by piece, you can improve each part of your revenue generation process.
Need More Ideas and Examples?
Download our free, idea packed special report, “15 Proven Ways To Grow Your Business, which provides numerous examples for each of the 4 ways you can increase your business revenue. Download it today!
