Tuesday, January 24, 2012
3 Ways To Increase Your Business Income
One of the best things that we have learned about doing business is the how to increase your business income. In other words how to ensure that your business will continue to generate cash flow for you. Not just any type of cash flow but consistent and POSITIVE cash flow.
From our own experience and through the process of learning by attending training's and seminars we understand and we know for a fact that there are only 3 ways that you can increase your business income. Yup, only 3 ways. Let's go through them...
Number 1 - Increase the number of clients or customers that you can serve. In other words, VOLUME!
The bigger customer base that you have, the bigger your income. The faster you grow your customer base the faster your income grows. Now the question is how do you grow your customer base. Well that's the key. There are so many ways that you can do that but you need to understand and you need to find the best way that can work for you. You need to find a way that your business can leverage. You can use technology. You can also use a referral program. There are so many proven methods out there you just need to find out what works for you. The reason being is that we are all different. Some methods are suitable for you some maybe not so. The only way we can find out is by doing trials and trying out things and techniques.
Number 2 - Increase the amount they pay you or in simpler terms, increase your price or the amount that you are charging for your products and services.
The question is how do you do that? It is tough enough to get people to buy your products or services as it is and now you want to increase the price! The SECRET to doing this is focusing on the VALUE that you can offer to your clients.
If people can see the VALUE, they will pay big money to get your products and services. You really need to position yourself such they are seeing not only a good deal but a truly GREAT deal. When you focus on value, you will deliver nothing but the best.
Number 3 - Increase the frequency that they buy from you.
You need to find ways so that you can create a business whereby they will need to buy from you or through you consistently. This will not only help to increase your income but it can also become a passive income provider for you. This is where you need to be creative. Every business can be structured in such a way. You just need to focus on what your clients want and provide them with the solution.
Hope the above 3 tips can help you with your business this year. It is great that we share this info as it helps to remind ourselves as well so that we do not lose focus.
Have a good one!