How To Grow Your Business by 40

3 Ways To Grow Your Business

There are only three ways to grow your business, any method of expansion you describe falls into one of these three categories. More customers, larger orders and/or more frequent orders. Most people grow their business bit by bit through very hard work and consistency over many years and simply because they are fixated on one major method of growth, that is more customers! However if you grow your customer base AND you also focus on increasing the size of your transactions AND the frequency of each customer's purchase, you will increase your revenue by 100%%, 200%% or more! That's a bold statement, especially to those who have been in business much longer than we have, but here are the details...

If you work on all three ways to grow your business, you are essentially working like the military does. They execute attacks with something called the "FORCE MULTIPLIER EFFECT" in order to significantly increase the combat potential and chance of success. The military doesn't just send a single troop in, they attack by air, land and sea, by surprise attack, they attack from the side, by stealth attack, etc. All these avenues are used to soften the market for the next wave and so on. When you apply this to your business you can dominate and own your market. It is like letting the full force of many different factors carry you to greatness without having to lug it and push it all on your own. Here is precisely what I mean.

If you work on the three ways to grow your business at the same time and all you do is improve each way by a margin of 10%% then you have the power of exponential growth working for you. Take a look at this sample and then test the formula with the figures of your own business and discover that this is not a theory or myth rather it is a simple way to make a huge impact in your business. The following example shows that if you have 1000 active customers, and they give you orders for $100 each time and they bought two times a year it would work out to annual revenue of $200,000.

# of clients Transaction Value Transactions/year Total income
1,000 X $100 X 2 = $200,000

If all you did was increase each category by only 10%%...

# of clients Transaction Value Transactions/year Total income
1,100 X $110 X 2.2 = $266,200

$266,200 represents a 33%% increase over $200,000 and it is significantly easier to increase all the categories by 10%% each than to do any one of them alone to realize an increase of $66,200! Now for the powers of exponential growth, (and I again encourage you to do the math with your company figures) if you increase each category by 25%%, you will double the size of your company!!! Small or reasonable growth in any one of three areas is easier to achieve, manage, and handle, than if you had massive growth all in one area alone. This leads to the next question I get asked which is "that's nice Rob, but how do I do that?"

The easy answer is to go into the newsletter archives, print off #2, and start from there http://permaboss.com/archivednews But here is another strategy not mentioned in detail before.

Essentially, you need to take a fresh look at your relationships, the one to your marketplace, and to the people within it. You need to see yourself, your company, and everyone in your organization as an advisor, as a trusted and respected expert advisor. You have the obligation to counsel these people in what is in their best interest. You need to give them the best short term and long-term outcome. And when you start advising them with THEIR best interest at heart you will no longer accept or allow them to buy less than they should, fewer combinations than they should, less frequently than they should. You or your employees will never again take an order just because they are willing to buy; your people will never again be struggling to manipulate the things they say to get orders. Instead you will be focused on the fact that the more value you add the more value that is perceived by them the more success you will have. Your relationship with your customers will turn into relationships with CLIENTS instead. To understand clearly why you should change to this concept read on.

In a world where we are slammed daily with offers and deals, in a world where we are a commodity to another company, we need to differentiate ourselves away from the marginalized status, we have to draw a line on the ground and distinguish ourselves. Turn yourself into an advisor for your clients! Look up the word "customer" in the dictionary and it is defined as "someone who buys a commodity or service." Now lookup the work "CLIENT" and it is defined as "someone who is under the care and protection of another." You want to move your whole relationship you have with your "customers" to one where they are your "CLIENT." Someone you see as under your care and your protection, someone whose well being is important to you.

The way to greatness today is to transfer your ultimate passion away from your product, your service and your company, and instead fall in love with your client. If they are at the top of your awareness all the time, if you focus on them becoming the very best, the most productive, the more innovative, the most profitable, the most enjoyable, the most enriching, the greatest protection in whatever your product or service provides... then you too will dominate everyone else in your business sector, because they don't look at it the way you do. They are in love with having the biggest company and as a result they don't! Don't waste another day, start now.

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Update: INDUSTRY FIRST; Three dimension colour embossing
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Late next month all of our current embossing machine owners will receive the 3D colour embossed flock samples, instruction kit and pricing information as well as an introductory free die offer so that they can begin to promote this new process. This is the latest in embossing technology worldwide. For the first time in history you will be able to offer your clients 3D color on leather, not just textiles!!!!! Since the last newsletter, we have been experimenting and working on samples and a multitude of these samples are now on display at www.permaboss.com/gallery take a sneak peak and make sure you are on the list for receiving the sales samples once our machine owners are trained and ready! If you are a machine owner we would appreciate you sending us your logo or a logo you would want us to make a complimentary die for. Make sure it is a two color left chest sized logo for two reasons. One is to demonstrate the 2-colour technology, and two is so that sample & mailing costs are kept manageable for you to send out samples to your CLIENTS. Send your logo as per the instructions below:

Artwork Specs for each design: artwork@permaboss.com
Ideal: IBM Format CDR or EPS
Tiff, Jpeg or Bitmap (only if Hi Resolution!)
If Corel or Adobe then convert the text to curves
Please specify size you want the logo to be Length first then Height
If you are a MAC user the artwork can only be accepted as a PDF or EPS only.

See you next month.

Robert Harbauer
Permaboss.com Inc.

220 Industrial Parkway S. Unit 15 (Mon.-Fri. 9-5 EST)
Aurora ON L4G 3V6 CANADA
Tel: 905-713-6504 Fax: 905-713-6506
e-mail: info@permaboss.com
web: http://www.permaboss.com

Related Sites:
http://www.mboss.com embossing showcase
http://www.textilelasers.com laser aiming products
http://www.cadcamfx.com die making equipment and software