| |
| |
|
Strategic Planning Information |
|
|
|
5 Strategies That Will Boost Your Business Productivity Today! - Part 2
Growing your own small business can be one of the most exciting journeys you could ever embark upon! But it's important that you continuously implement new and fresh ways to generate sales and improve your profitability in order to stay ahead of the market! Here are the next 5 Strategies to help you propel your business to new heights of success! 1. Develop your own Loyalty Program If you have a look in my wallet, I have a Jesters Pies Card, a Subway Card and a Video Ezy card - all of which entitle me to something for nothing once I have made enough purchases! Some people will call me cheap?I just think it makes sense! If I'm going to buy something anyway?why not go somewhere that rewards me for my loyalty? If people have to buy your type of product or service from somewhere, why not make it more attractive for them to buy from you? Create your own loyalty program and create regular, satisfied customers who get rewarded for giving you their business! 2. Collect email addresses from your clients (with their permission!) The most cost effective form of marketing today is via email and if you haven't already started collecting your client's email addresses then start today. You may wonder how that could possibly help you grow your business, but let me give you an example. I recently heard of a Hairdresser who started collecting email addresses from her clients each time they came to have their hair cut - with the promise that she would keep them informed of any specials that she might be offering. Now, when she looks at the next week's bookings - if there are lots of spare appointments she fires out an email to all of her clients offering a special for 'Next Week Only!' - and bingo! She has a full week of appointments. She's happy and her clients are made to feel even more special that they've picked up a reward for their loyalty! 3. Create your own monthly newsletter Every business has something interesting to share with their clients and I'm sure yours is no exception! Once again, by using your email addresses, you can provide a very low cost service to your clients, and give you an excuse to keep in touch with them every month. If you're an accountant, then why not provide financial tips relating to the time of year. Eg GST info, Tax Tips etc. If you are a mechanic, what about some tips for keeping your engine running smoothly. Eg Checking the oil and water, tyre pressure etc. Maybe you're a Lawnmowing contractor?what about suggestions for keeping your grass green and lush according to the different seasons. Of course each month you can also offer 'specials' to your loyal clients to bring in extra profits during the quieter times. In the meantime, you're building a stronger relationship with your existing clients. 4. When was the last time you raised your prices? Here's an instant way to increase your profits! Are you underselling your services? Have you checked what your competitors are charging recently? By adding some of the value added services that I've already addressed in the previous questions, you can probably also add some increases to your pricing without too much drama from your clients. If you have an excellent product or service, don't become the discount king or queen?become the Exceptional Service Provider. People don't mind paying for good quality service?because there is so little of it around! If you mow a fifty lawns a week at $16 each, are people really going to mind if you increased your price to $17? Or what about even $20 - but each month you left them with a special report about how to care for some aspect of their lawn or garden for that month of the year - or maybe even threw some fertilizer on their grass! (They'll need to get you back even sooner if their grass grows better!) You just added an additional $50 - $150 to your weekly profits - for very little extra work! Think creatively!! 5. Develop your own Board of Directors You probably know of other successful business operators in totally different fields from you, and their ideas could also be of benefit to your business. Why not create your own Board of Directors. Offer to take them out to lunch as a group every two months and brainstorm for ideas on what they would do if they were running your business. You may pick up two or three new ideas which is not a bad return on your investment of lunch! Successful people love to share their ideas, so become a sponge and learn as much as you can! Start applying these principles to your business today, and watch your profits grow! About The Author Glen Smyth is the author of the popular new eBook, 'The Small Business Success Guide'. Discover how you can build your own profit-pulling small business, starting today: http://www.smallbusinesssuccessguide.com. Make sure you also sign up for the WOW! Factor Newsletter which is full of great ideas from other Small Business owners! info@smallbusinesssuccessguide.com
MORE RESOURCES:
Strategic-Planning - Google News |
|
|
|
RELATED ARTICLES
Content Management: Wise Investment for Business Prosperity The time when a website was just a simple set of HTML pages has gone by. It's true, just five or seven years ago simple websites developed with HTML and JavaScript were usual. When Do I Need To Hire A Business Plan Consultant Every new business owner knows that a business plan is critical - it is drilled into them by potential investors and every banking officer they meet. So why is something that is so important to the launch of a new venture so difficult to write? Good question! In this article I will try to address when you should go out and hire a business plan writer versus taking on the task yourself. How to Start A Business Plan A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. 10 Critical Facts to Put On the Cover of Your Business Plan... In most business plans, no matter how striking the idea, the covers are critically important. The majority of investors may flip to the executive summary, if they get past the cover, when deciding whether or not they are interested. Own Your Niche by Building a Niche Community In 1997, David Steele was making the transition from a professional therapist to relationship coach. Part of his strategy was to become a center of influence and THE Relationship Coach for his community. Corporate Venturing For Emerging Growth Companies The boom of the dot-com era in 1999 brought the emergence of corporate venture capital as a major source of funding to the private equity markets. Corporate venture investments peaked in the third quarter of 2000 with 608 deals totaling a combined $4. Memo: Sustaining Growth in Your Business What gets measured gets done.How do you keep your business growing? How do you ensure the health of your business and your personal income against threats from competition, market cycles, commission payout changes, regulation of all kinds, and the human threat of complacency?The answer isn't to run faster on the same treadmill. Restaurant Startup - Part 1: Market Research - What are Potential Competitors Doing? The first step in starting a restaurant is proper planning. One must lay out a plan complete with goals, priorities, and the tasks that he will need to complete in order to achieve these goals. Business Plan: The Simplest Business Plan Ever If you're a solo professional like I am, you know how tough it is to find any time at all to do any business planning. Doing a full business plan is a must if you're planning to seek financing or investors, but most solo professionals don't need anything that complicated. Titanic Precautions Many movies have been made about the tragic story of the Titanic. Arrogance and ignorance was definitely present during its maiden voyage, which was Titanic's last voyage. How Copying the HBO Schedule Can Boost Your Business I'm not talking about posting the HBO schedule on your website or sending a Xeroxed copy around to all your customers. When HBO came onto the scene they were innovative, fresh, and willing to do things other people were not. Shortening Product Life Cycle! The current state of the available technology at the disposal of designer is the most limiting determinant to what is technically and economically feasible to develop, therefore research into metatechnology such as computer science, whereby interdisciplinary spin off provides advances that both directly increase capabilities, and affects other technologies to dramatically improve system performance, is a necessity, the implication being that despite many of the basic principles being relatively static, the technology used is essentially in a state of constant development.Such developments result in smaller, more efficient, cheaper and more reliable components. Elite Positioning Brings Higher Profits Imagine spending the same amount of money on marketing and performing the same amount of work to deliver your products or services, but earning more money and keeping more after your expenses. That's what happens when you institute elite positioning for your business. Site Selection and Demographic Tips for Establishing Outlets Many cities have home pages on the Internet. Many of these cities use these sites to promote their town. Akron OH; A great place to do business When looking at Akron carefully one cannot help but notice it's brilliant location to rivers, water, large cities and middle class consumer spending populations. With Canton to the South, high-end and growing Fairlawn to the North, Kent State and University of Ohio both a stones throw; the potential for any business is quite apparent. The Six Sigma Method and Design of Experiments Six Sigma is becoming a proven approach for businesses and organizations to improve their performance. The spectrum of companies actively engaging in Six Sigma today is wide from industrials like Celanese, Caterpillar, GE, Honeywell, and 3M to service/retail organizations like Starwood Hotels, Sears, and Home Depot. TQM Total Quality Management, the book Every decade we seem to come up with a buzz-word to describe the things we should be doing right all the time. Forever we have heard our parents or grandparents use little phrases to get our attention. Will and Vision Remember Chux? The disposable diaper that took the market by storm in 1932? Of course you don't. Chux saw its product as a luxury item, and happily kept its little throwaway business to itself for almost forty years. SWOT Analysis Is No Magic 8 Ball Q: A key investor in my business has suggested that I hire a consultant to do a SWOT Analysis to help plan for the future. I try not to argue with my investors, but I'm not so sure I need to have this done. Parking Business, the Details on Increasing Lot Revenue If you are in the parking business and own or manage parking lots you may want to think on some additional concepts to increase lot revenues. Whether you are looking to add value for your customers, expand your customer base, or simply increase your revenue, the addition of a car wash and/or detailing service to your parking facility may be the answer.
|
| home | site map |
| © 2006 |