I hope you’ve been busy working on these 5 lessons. I know so many hugely successful business owners who put just a few of these ideas into practice and churn out the money.
And so here are the 9th and 10th business growth strategies.
Strategy 9: Offer more products and services. Are you selling information online? Simple. Work out what other problems your target market has and write a product to solve them. Or purchase resell rights to one that already exists, or JV with somebody who has that product already. Simple stuff.
And if you’ve got a bricks and mortar business, simply add to the products you have. If you sell flowers, come up with new offerings at a higher price. If you’re an accountant or financial planner, put a package together where you review your clients’ position at a quiet time of year. What about a medical specialist (masseurs, physios, chiropractors etc)? Do what my masseur does and sell products as well, like compression tights, ice packs, health supplements and so on. There are so many things you can do. Its easy money because you’ve already got an established customer list, and you might even be surprised by what new products are popular. It might even open up new business opportunities that take over as your biggest earner.
Strategy 10. Put in a slack adjuster. This is not for everyone but if you’ve got a number of related products and offerings, put them all together into a BIG package. Maybe the masseur could offer a big package for clients of personal trainers like 2 massages a month, diet supplements, phone support for injuries, plus the ability to get bookings after hours for a high price. If you only sell one or two a month it’ll still be extremely profitable for you.
And if you’ve got a stable of information products on the internet, or as a mail order product, simply offer ALL of them for a high price. Throw in some consulting, email access and you’ve got a high priced product that will make you really good money every time you sell one. Not many will buy, but on the occasion that they do it’ll put some serious dollars in your pocket. And you’d be surprised how many fans you have who are just waiting to give you money if you give them something of value.
If you’re a subscriber of mine, feel free to contact me about one or more of these strategies and I’ll give you some ideas on how you can easily implement them in your business.
Next week I’m going to show you a BIG mistake that I see people making in their business. And the week after I’ve got another one too. Its based on my in the trenches experience from reviewing people’s marketing plans, and there’s a BIG chance you’re making at least one of these profit killing mistakes.
All the best,
Hugh Thyer
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