As a business coach, one of the questions I get asked a lot is, How can I increase my sales? The businesses that ask me this are usually focused on finding ways to attract new customers. But in fact, it makes more sense to master strategies to get more sales from existing customers. Attracting new
The European market is of great interest to many businesses in Africa, Asia or Latin America. Over 400 million potential customers who have money to buy and who are interested in having many products and services to choose from. What’s not to like? However, I see many businesses taking an approach that does not get
Many businesses don’t know who their Most Profitable Customers (MPCs) are. That is a problem, because the Most Profitable Customers are the foundation of any successful business. They are also the best way to achieve faster business growth. Why? Your Most Profitable Customers bring in most of your profits About 80% of your sales comes
Quick answer: they combine an organic business growth strategy with a long term vision. Many of the small and medium businesses (SME) that I work with are family businesses. Topics that we work on include how to get more sales and increase profitability. For all of my clients, their key focus is how to keep
A good way to increase sales is to make your business more productive and streamline areas that are wasting time and money. Can your business afford software that can automate processes? If yes, consider automation of tasks like data entry, staff scheduling, inventory management system, etc. Start by looking for solutions that can replace manual
Many small and medium businesses have cash flow problems. One of the reasons why this happens is because there is not enough money flowing into the business. This could be because the business isn’t selling enough products or services to customers. It could also be because expenses have increased while income – sales – have
Are you struggling to get your cash flow under control? Consider taking a look at your inventory management. Inventory management is a key – but often neglected – area that affects your cash flow. There are many other ways to increase the cash flow in a small business. Making smart moves in inventory management will
From time to time, I moderate webinars for CBI. CBI is a Dutch organisation whose objective is to increase imports from developing countries. The webinars inform businesses in Africa, Asia and Latin America about opportunities on the European market. They also offer information about the requirements to enter the European market. After each webinar, many
How to increase sales for my small business? This is one of the questions I hear very often. Businesses traditionally use lower prices to attract more customers. Through annual sales, holiday and seasonal discounts, when sales are slow, or as a strategy to win business from competitors. The problem with reducing prices is that it
SMEs often tell they want to grow their business when in fact, what they are saying is that they want to stop losing money. If the challenge you are facing is a lack of sales, lack of profit or lack of customer retention, you need to deal with those issues first before we can talk
What is a business model? A business model explains how a business makes money. For a retail store, the business model consists of selling physical products to the customer either through the brick-and-mortar store or through online channels. For a service business, the business model consists of creating and providing value to customers by selling
I have worked with several clients who have asked me to share strategies to increase profits for a service business. These clients are service businesses that provide a range of professional services including in IT, international trade, marketing, training, consulting, and high-end design. But some of them are struggling to find ways to increase their
