Your vision doesn’t capture your heart until it captures your wallet. –Andy StanleyHow excited would you really be if you knew that your cash flow and profit aligned and truly supported your vision and values? Would you be more passionate about growing your company? Business needs cash flow like you need oxygen. It is vital for your company to grow well. Creating clarity allows you to make more money AND keep more of what you make. Here are four ways to grow your business well.
1. Know who your customers are and increase the number of the type you want. Once you know why your business matters to your customers from their point of view, you can plan on increasing your market share. Go deep, not wide.
2. Increase the number of times your customers buy from you. Develop relationships and stay top of mind. Be of service so they are thinking of you all year round. No more one and done.
3. Increase the average value of the sale. This comes down to pricing. Remember, you do not charge what you are worth. You charge for the value of the results you provide your customers.
4. Improve your business processes. When do you bill for services when the project is complete? How is your collections process? Have you automated those processes you repeat regularly? Automating processes allows you the time and flexibility to focus your energy on those tasks where you alone bring value, like planning and managing the business.
Grab your favorite beverage. Write your vision to include your revenue, cash flow and end-of-year bank account balance. Review the four ways to grow your business and make your vision come to life in a way that funds your life.