The top 10% of your customers spend up to 3x what the rest of your customers spend. The top 20% of your customers are responsible for up to 80% of your total sales. These 2 numbers should convince you how important it is to make sure that the top 20% of your customers are satisfied.
If your business partnership is struggling, it will cause operational and financial problems in your business. Sometimes, you can solve the problems if you and your business partner can find time to sit down and discuss strategy. But at other times, the business partnership has no future and the only thing to do is to
A business partner is not the same as a business partnership. Many times, you hear about businesses that have more than 1 founder. These founders are business partners. Or you may hear about businesses that have a partnership with other businesses. I have already talked about the different types of business partnerships, so today I
A strategic business partnership can help your business grow at low cost, can help you get new customers, enter a new market, save money on marketing, and boost your brand. But to enjoy the benefits, you need to follow these steps to prepare yourself and your business to enter a partnership. Determine your goals What
Business partnerships can be used to grow your business. A business partnership can help you: save time enter new markets attract new customers increase your sales save money experiment with new business ideas and create a stronger position as compared to your competitors There are many kinds of business partnerships. Today, let’s look at 6
During the past weeks, we have been talking about various business growth strategies for small businesses. Many of you have asked me to pay particular attention to business partnerships. You want to know how to choose a good business partner, and how to make sure that a business partnership will be successful. Starting today, we
For this post, I am assuming that you are starting from the position of a solo consultant who may sometimes work with other consultants. 1. Distinguish yourself from others If clients know that you are the expert in the area where they are facing challenges, they will feel more confident in your ability to carry
If you are going to expand a poultry business, you need a good business plan and a feasibility study, especially if you want to apply for funding. With a good business plan and a feasibility study showing a good outcome, it will also be possible to obtain a loan from a bank, or even investments.
So your business is not growing. What do you mean exactly? Is it that people are not buying from you and you want them to start buying? Is it that customers buy from you once and never return? Is it that you are not seeing any profit from the business? If you answered “Yes” to
For the past 4 weeks, we have been talking about business growth strategies. Prioritising your growth is one of the best ways to become a profitable business and to improve the chance of your business surviving in the long term. But how to grow when there is no money? Or when the money you have
As I said before, your business must first be successful before you can start thinking about growth. This means that after starting your business, your profits should be enough to cover all your costs and expenses. If that is not the case, you need to tackle that issue first before moving on to growth. Once
Last week, I spoke about the 4 basic business growth strategies. Today, I will be talking about 9 more advanced growth strategies. Small businesses can also use them, but it is advisable to achieve a certain level of professionalism and financial success before you attempt these strategies. 1. Go to trade shows The people who
