There are many paths to grow your business. Here are many ideas you can apply or amplify to increase revenues.
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路 Many founders anchor their prices to their costs of creation. However, consider raising your price based on value to customers.
路 Pricing is a negotiation. Determine what is important to you and your customers to find the right mix where both sides benefit.
路 As a startup, it's tempting to use low prices to attract customers. Increasing rates is scary but forces selling on value, not on price.
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Finding and engaging the right customers is crucial:
路 Identify your ideal customer profile. Once you know their needs, message how your business solves their problems.
路 Connect your customers, e.g. build a networking group to share ideas around industry and personal development.
路 Communicate your full offerings and give a sample to show its benefits, e.g. limited access to a new product.
路 Ask directly for referrals. Explain your desire to grow and offer talking points to share. Most advocates are happy to help.
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Once you find the right customers, help that relationship grow:
路 Ask customers regularly how things are going and what can be better. This prevents big problems and opens upsell opportunities.
路 Respond quickly to issues. Knowing you are addressing their concerns matters as much as solving the problem.
路 Charge for work outside of scope. You may hesitate to push clients, but remember a valuable relationship is mutual.
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Invest in ways to increase market share:
路 Collaborate with complimentary companies for chances to co-market and cross-sell.
路 Expand thoughtfully into other areas, industries, or demographics, e.g. rely on existing clients for introductions versus starting cold.
路 Spend across multiple channels to reach more people, such as social media, influencer marketing, and public relations.
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Know you are doing and rely on data to make informed decisions:
路 Look beyond the metric of deals-won by focusing on the behaviors and activities which impact outcomes.
路 Build an incentive structure that encourages performance aligned with company goals.
路 Review big wins and losses emphasizing learning, not judgement, to keep improving and to solve scalability issues.
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Seek knowledge:
路 Encourage new ideas. Reward suggestions which directly increase revenues with public recognition or even a bonus.
路 Discover what attracted customers, what they value, and what problems they鈥檙e looking to solve.
路 Speak with departing customers to learn what was missing and to ask if you can occasionally contact them about updates.
路 Designate someone to own applying what you learn into action.
There is more than one path to success. Be smart about growth and test paths which will reach your vision.
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To learn more on these topics, consider these posts on:
> Growth Mindset: www.webuildscalegrow.com/post/5c07b7fc
