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How can I grow my business

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Hi, By advertising what you do or sell.

Report La'mingo's answer

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I often tell business owners – do not be a minimalist in what you deliver to the customer. Try and go beyond the expectations of the customer and deliver as much as you can so they are so impressed, they will come back or maybe refer other customers to you. We want “word of mouth” advertising to take place so we can pull in more and more customers over time. Yes, this is not easy; but over the long-run this is the best overall strategy to grow a business – pulling in more customers without having to do a lot of marketing and promotion. Eventually, we want to run a “pull” business model as opposed to a “push” business model that requires a lot social media, advertising, flyers, etc.

It can also help to offer some type of subscription type service to the customer. This locks in recurring sales for the business. For example, instead of just fixing a computer, you have people sign up for an annual computer check up service that cleans the computer and removes viruses and other broken programs. This creates a recurring revenue stream as opposed to a one-off sales transaction where someone uses your service once and never comes back.

Finally, you can also upsell to past customers who used the service. Make them aware of new electronic gadgets that can improve their life, make things much easier. They can also subscribe to get alerts about new products or services that you offer. Once again, we are “pulling” them back in after the initial sale to get them to buy again. This is how you can grow the business. Good luck.

Report Matt's answer

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