The Newsletter Pro - August 2019

208.297.5700 AUG

2019 www.thenewsletterpro.com

THERE ARE ONLY 4 WAYS TO GROW YOUR BUSINESS NOT 100

INSIDE THIS ISSUE:

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Not Growing as much as You Want? Client Success Close More Deals; Make More Money! Book Review: ‘Dialing Strangers’ by Dave Tester Get One on One Lessons From Gordon Ramsay Meet Jordyn Hussey How a Travel Company Is Changing the World

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easier for the customer to continue down the path with you than to find a new provider. So, once you deliver results and show them the path, many customers will ascend to higher levels of service. Most consumers live in a state of fear, so if you can deliver, they will entrust you with more money. Next, you can increase sales by increasing the number of purchases your customer makes in a given period of time. For example, at The Newsletter Pro, our customers buy once per month. What if we could get the average customer to purchase 30% more per month? Sales would shoot through the roof. In dentistry, they want patients to come back twice a year, but what if they had to come in three times per year? (That’s the number of times I personally go to the dentist. I like a clean, fresh, plaque-free mouth.) There would be a 50% bump in sales. Getting customers who are happy to buy from you again and again is a must for long-term profit.

There are only four ways to grow your business. Yup, that’s it: just four. Not 100 ways, not 1,000 ways — just four ways. Once you understand these four ways, you will have clarity about what you need to do to expand. In this article, I’m not going to share any of these four ways with you … just kidding! I’m going to cover all of them. Some people will argue that there are more than four ways to grow a company, but the reality is that all subsets of growth fall into one of these four growth categories. This is by far the most difficult and expensive way to grow. What is the single hardest thing you do in business? Get new customers, of course. I’ve coached a ton of people, and I’ve learned that regardless of what the underlying problem is, entrepreneurs ALWAYS want more leads in order to make more sales. I feel the same way, but unless your goal is to be super small and struggle forever at your business, you can’t focus solely on this one area of growth. After all, there are three other ways to grow your business. 1. ACQUIRE NEW CUSTOMERS.

The most difficult sale to make is the first sale to a new customer. That is the bad news. The good news, though, is that once you’ve made the first sale and delivered value (sometimes even before you deliver value via a one- time offer or order bump), the customer will cheerfully buy other products or services from you. Why is that? The answer is simple: Once you’ve built trust and helped them, it is much “WHAT IS THE SINGLE HARDEST THING YOU DO IN BUSINESS? GET NEW CUSTOMERS, OF COURSE.”

3. ENCOURAGE REPEAT BUYERS.

2. ELEVATE THE CUSTOMERS YOU’VE GOT.

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“SMART COMPANIES KNOW THIS ONE METRIC CAN MAKE OR BREAK THEIR WHOLE BUSINESS.”

4. RETAIN CUSTOMERS.

I’m a huge believer that the masses are always wrong. I realized early on in my entrepreneurial life that focusing all my efforts on new customers was a horrible idea because I was struggling to get them at my dry-cleaning company. I dug into all the >Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8

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