It doesn’t matter whether your business has had a slow start in 2022, and it doesn’t matter whether you’re already feeling like 2022 is just 2020-too.
All businesses have hidden financial potential that can be tapped into. Yours too!
So now that I have your attention, you’re probably asking ‘how do I tap into my business’ financial potential?’
The answer lies in finding instant cash flow and increasing your revenue. And while this might sound like the obvious, but sometimes unattainable solution, starting with the easiest option will get you going on the road to success. This option is increasing your pricing.
If you’re a small business owner, you’re probably shaking your head right now. But price increases are vital to the survival of your business. If you keep selling at last year’s prices, your revenue will simply keep decreasing. Too many business owners never increase their prices even after five or ten years! Those same business owners constantly ask themselves why their businesses do not thrive.
The second step to increasing revenue is to invest in marketing programs. The saying ‘you have to spend money to make money’ rings very true in this instance. Investing in tried-and-trusted marketing programs will eventually provide results for your business, but this doesn’t mean that you should ignore other avenues of increasing revenue.
Joint ventures are a feasible option for many start-ups and small business owners. When two or more business form a partnership and focus on a specific product or service, it leads to wider audiences and to more sales.
Even if you’re not interested in a joint venture, there is yet another option to make a great profit in your business, namely upselling & cross-selling. The secret to upselling & cross-selling is to ASK your customers whether they would like an additional product or service along with the one they’ve committed to buying. Along with this you should also offer a down selling strategy in case the customer finds your original product/service too expensive. This also includes discounts and free offers.
Another very attractive selling point is bundling. Once you present your services or products in ‘package’ form, customers are more likely to go for the ‘higher’ option, thus leading to more revenue.
Lastly, but certainly not least, it is essential to keep researching and developing additional products and services, so that your business is constantly offering something new to its client base.
The best part about following these steps is that most of them will cost next to nothing and provide excellent results!
Don’t sit and wait for your business to crumble in 2022. Act now by following these steps to grow your revenue.
My name is Allan Hirsh and I am the author of 45-Minute Breakthroughs. Contact me today for more information on how you can grow your revenue in 2022: https://ahaonlinelearning.com/#contact