Small Business Growth: 3 Ways to Increase Sales
For the last 10 years, we’ve been helping business owners triple their profits and double their time off in 90 days or less.
While to some that may sound like snakeoil saleman talk (it’s not - click here for proof), it’s actually due to a systemized approach to business building that actually works.
Part of that system means knowing what works, and what doesn’t. We don’t guess this stuff, it’s based on years in the trenches doing the work and getting results. Both for my own businesses, and for members of The Opulence System™.
That’s why when business owners come to me with cashflow issues, I know how to help them quickly to get them back on their feet and generating income.
Because although businesses may look different on the outside, they all have the same characteristics beneath the hood: they all take money for providing something.
Which means that there are certain ways of freeing up cash and stimulating new cashflow that ANY business can incorporate to kick start a better bank balance.
Want to know what they are? Here are my top 4 ways to increase sales.
Focus on your niche
If your sales are in a slump, it’s time to revisit the basics. Do you have a good product-to-market fit? Is what you’re selling actually what your target market wants?
Business is always growing and changing. Even yours! So it’s easy to lose sight of who you’re actually trying to market to. Also, people are always growing and changing too. Has your market changed how it likes to do business?
For instance, a few years ago Uber swept in and took the Taxi industry by surprise. They were offering essentially the same service (rides for hire), but the way they offered it was more in-line with what consumers wanted (cleaner cars, cashless payment, etc).
Spend some time diving deep into your core market. What are their fears and desires? Their frustrations and challenges? The more your offer meets their needs, in the way they want it met, the easier it will be to make sales.
Have a good lead pipeline
Back in my first business about 18 years ago, I worked out that I could use a simple excel spreadsheet to manage my leads, quotes, work-in-progress, and closed accounts.
I’d have a column with everyone’s name, and next to it I’d mark down whether they were at lead, quote, job, or complete stage. That allowed me to start to gauge an understanding of how much money I had sitting in each category.
Over time I started to work out how to reverse engineer my end goal ($X amount of dollars per year) by looking at what I should have in each of my pipeline stages at any time.
That allowed me to focus on lead measures (what I could influence such as lead flow), instead of lag measures (things already done such as a P&L report).
These days there a lot of excellent online software providers such as Salesforce, Pipedrive, SugarCRM, and Hubspot.
Do your research and figure out which one is going to suit your business best.
Because when you start tracking numbers such as leads generated, quotes sent, sales calls booked etc, that allows you to gain a really solid idea on what lead measures your business needs you to work on to survive.
Looking at your pipeline can also identify areas you need to address.
For instance, if you see your sales call show-up rate is very low, that’s a clear indicator you need to put some measures in place that get more people to follow through with their call booking.
Eventually each section of your sales pipeline will act as a lever you can pull to increase or decrease numbers across your business as you see fit. And that’s where the real power comes in determining the numbers that make it onto your yearly sales report.
Use referrals wisely
If your business is run purely by referrals - congratulations! You’re clearly doing a great job, because people are happy to refer you to their friend and colleagues.
But on the flip side, a business run solely on referrals is playing a dangerous game. Spend some time investing in paid advertising so that if the referrals dry up, you’ve got a fall-back plan to keep the cash coming in.
And while you’re at it, build a systemised referral process into your business, so you can capitalise more on the great word-of-mouth you’re generating. For every one person who refers you on, there are probably 2 other clients who would also do so if prompted.
There are lots of ways to build referral systems into your business:
- Use team management software such as Asana to setup recurring outreach tasks for your VAs
- Schedule a half-day each month to call recent clients, get their feedback and ask them to refer you to 3 friends
- Add a couple of emails to your client offboarding sequence (if you use an automated email system such as Active Campaign) that prompt clients to leave a Facebook or Google review
Over to you...
If you're looking for ways to build stronger sales pipelines that boost your cashflow and overall revenue, let’s continue the conversation.
At The Game Changers, we work with business owners to help them achieve 3x growth in 6 months while actually working less in their business. Our proven process is different because it focuses on both the outer game (strategies and tactics) and the inner game (your mindset and beliefs) for scalable success and actually loving being in business again.
Check out our case studies through Google, through YouTube, through Instagram, or Facebook, and if you want results like our clients are getting, reach out and take the first step.
Get in touch with the team for a quick 15 minute, no BS chat about your business. We’ll get to know you a bit, see if we’re a fit, and give you our honest view of whether we can help you.