How to generate more revenue for your business?

How to generate more revenue for your business?

In recent years, I have learned a lot of things from American marketing gurus. We must recognize that this is an area where our behavior in America is quite different from what is done there. Nevertheless, many of these strategies are ultra-efficient and simple to implement. Successful companies apply them regularly.

Jay Abraham is one of my models on the subject just like Seth Godin. He is an engineering marketer who is sometimes paid $ 5,000 for an hour of consultation. You’re probably wondering if it’s true or if it’s only for driving mechanics but when an idea or a simple change to implement increases the turnover of a company by 10, 20, 50%, believe me, that the entrepreneurs fight for personalized advice.

Anyway, here are some techniques you can apply to your business:

1. Instead of constantly creating products, build partnerships, alliances, and collaborations. Get out of the “I want everything for myself” mentality. It is a common mistake for those who have trouble moving forward, but I guarantee you that the savings achieved by a partnership are enormous. Potential benefits too!

2. Look for products/services that complement yours and offer them to your customers. Slightly different from the first recommendation, you will be able to increase by 50% the revenue generated by your sales if the product is well targeted. (Cross-sell)

3. An idea that I love: choose a company that loses customers or has lost large customers (just about all companies over a period) and whose quality products/services you recognize and offer them to do to return some old customers. The figures show that it is possible to reactivate 40% of old customers. (it can be a business idea in its own right)

4. Change the texts, advertisements, marketing a business can increase sales dramatically. Many websites have noticed changes in their conversion rate (on a sales page) of up to 80% by changing a title, color or text. We are irrational beings, and if you are able to test and improve this, you can truly produce a lasting positive change in sales.

5. Offer service products to your customers when they buy (up-sell). You may have noticed that all the great e-commerce sites do: you buy a book? We offer you similar books. Do you buy a mobile phone? Why not buy the protective cover? There are dozens of combinations and more or less subtle ways to do this (some sites are a horror on this point). The turnover can again make a well noticeable and durable. Again according to the field the good can go from 15 to 50%.

There are only 5 strategies to grow your low investment business ideas into a company, but there are dozens. Would you be interested in learning more about the subjects? Now, keep in mind a few things about work and money…

Never ever work for money

Work for money this seems like a good idea. I remember a colleague who was the main topic of conversation. If something differentiates the rich and the poor, working for money or not could be one of those characteristics.

Carrot and stick

Have you noticed this fascinating thing? In life, there are those who respond and act according to the carrot or the stick and those who do what they think is good.

The story is filled with events where someone does something to get a reward or to avoid punishment. Sometimes, some people do what they think is good, regardless of the issues.

A recent and quite striking example is Chirac’s refusal to engage in the Iraq war. While it is certain that geopolitical and international sovereignty issues were at stake, his reaction provoked great admiration because it was quite unexpected: he did what he thought was good.

When I decided to go live in Berlin for a while, I did not act to get a reward or to avoid punishment; I did it because I thought it was the right thing to do. I did it for what it was going to bring me.

On the other hand, I have an acquaintance whose days are punctuated by the fear of being noticed in a negative way. its strategy to overcome the crisis is to be invisible. So it’s all about not being punished. He absolutely avoids arriving late in the morning, missing a meeting, discussing decisions even if he is sometimes convinced that they are bad in order to keep his salary as long as possible.

The same thing happens with food. Nothing more classic than one who thinks he is in good health knows that he does not eat very healthily and who absolutely wants to avoid any doctor or any analysis. The fear of the stick dictates the behavior. The mere fact of being afraid of the stick also means that he knows full well that something is wrong but that he does not want to change.

When you work only for money, you will define your actions around that goal. All that will go in this direction will be good, and anything that does not feed this goal will be badly perceived.

I changed several times during my career. If money was one of the reasons, the main source of motivation was the quality of the structure and people. My goal was to progress and learn first and foremost. Guess what: with this type of attitude, money follows almost naturally.

The rich do not work for money

Imagine that you hold an administrative position in a company and that you secretly dream of starting your business to sell solar panels. One of the key skills in this type of business and in any business is the ability to sell. After evaluating the opportunity to partner, you choose a partner who masters the installation technique. It remains to sell these solar panels. How to do?

What someone would do with a rich mind would be to find the best way to learn how to sell. Depending on the resources and regardless of the cost, he would learn to sell before starting.

The possibilities :

  • – become a sales representative in a large company and follow internal training
  • – join clubs or professional meetings
  • – offer his services free of charge to an association
  • – occupy his weekend with home sales

There are others.

In any case, money does not matter in this process. What motivates the person is his deep desire to learn something.

The other scenario could be more dramatic. He climbs his company, learned somehow on the ground and ended up believing that the competition is too strong and gives up.

I have seen many people who just work to earn money they just invest in something or buy a prize bond to make some cash but some fail and some win the game. As a consultant, I suggest you invest in something different regarding your skill just like solar panels if you have the ambition.

Your job is a train

I like the image of the train. To get rich, depending on how you hear it, you have to see your job as a train that takes you to the next station.

How to get there faster? How to be sure of having arrived?

These questions are always difficult to address and the answer is only possible in the context.

If you do not do anything special, it is possible the train does not take you very far. It is even likely that he drops you off or on the side of the road.

Find a way to power the boiler with your best wood and take a look at the direction of the train at each turnout. If management does not please you, you can easily change trains.

Above all, it is important to know why you are on board.

Related Posts

Leave a comment