Think Bigger – The 7 Ways to Grow a Business

by Daniel Matalon on December 3, 2014

Too often, a business owner looking to “grow” is simply looking at how to make more sales and we all want that, more income. But, even as we say that, “more income” we can see that there is more than one way to do that. Sales can increase by adding more customers, that’s pretty clear. But sales can also increase by selling more to the same customers too.

In fact, there are 7 ways I know of to grow a business and some of them are not always as obvious to me. One of my mentors shared this with me and I thought I would post it here for your comments.

The 7 Ways To Grow A Business

• Increase the number of clients
• Increase the average transaction value
• Increase frequency of repurchase
• Get more residual value out of every client
• Acquire new products and services
• Acquire new markets
• Acquiring companies

I know when I am stuck and I think more creatively about how to grow my business by considering the entire 7 strategies, not just “selling more”, it gives me creative new ideas. What about you? Does this make you think differently about how to grow your business?

Let me know in your comments.


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