1. Get additional products for your existing customers.
One thing you need to do is make your customers spend more in your business. Give them the opportunity. You could create new products if you make them. Source from other suppliers other than the ones you normally buy from. Partner with people who offer complimentary products. Check out what else is of value to your existing customers. After all you stand to make more money from your existing customers than from new ones, just do it.
2. Look for new markets for your products.
Your products could be doing well for your existing market. But maybe there is another market – social class, geographical, online etcetera that could also do with your offerings. Look for that market. You may have to make some adjustments in your products, how it is delivered to the market and how it is used but if it will bring in more cash without costing more why not
3. Market your business in ways you have not done before.
Probably you have stuck with one way that has been working ok so far, but it won’t hurt you if you got another way of doing it without stopping the existing one. Actually, the best time to try something new is when you have an old one that is working. If you have been using radio advertisements try online ads. If you have been depending on personal selling, try direct marketing. Trying something new. If it doesn’t work try something else.
4. Become more intimate with your existing customers.
You have no better assets than your customers. They will give you better returns than any other investment. They are the source of all your current riches and they hold keys for your future cash. Treat them as such. Get to know them more. Spend more time with them. Buy them gifts, even when it is not Christmas. Call them not just when selling or asking for cheques. Surprise them. Make them love you by loving them. You can’t over love a customer. Of course you know what I mean.
5. Look for new partners. You have tried it all alone so far.
You have had partners who have disappointed you. But from past failures there are lessons you have learnt that can make your partnerships more valuable. So in the New Year do not be scared to try out things with new partners. Do not risk your life or that of your business but you can start with short term, objective oriented partnerships that could open up new markets for you, bring in new customers, generate more value for your customers or create a new business model that would not have been possible while working alone.
6. Get more from existing people.
Whether you are going to hire better, train more, motivate or manage better if you have a smarter and more hardworking team you will be guaranteed of better results than in the last year. If they remain at the same level they were last year you are doomed to fail in everything else you try. People are the best multipliers of your effort and ideas. Aim 2016 to get at least two people in your business who will be smarter than you and who will work harder than you.
7. Become a better you.
If you are the same person you were in 2015 why would you expect to get different results? Be more generous. Be kind and be more open to new ideas. Learn new skills and seek for other viewpoints. Listen to your people more than you did before. Be more positive in your outlook and laugh with your people. Whatever you do, be a better person.
8. Get a coach.
No one makes it big in any sport without a coach. Business is a game that many expect to excel in without a coach. Be different get one. They will help make your swing and dribble better. They will help you make better decisions and execute any of the above ideas in a better way than you could on your own.
Please share more ideas with us. These are not exhaustive.
Do not miss our Sales Growth Planning 2016 Boot camp for Business Owners on January 14th-15th 2016 in Nairobi. Your business should grow by 200% in 2016. Email email@example.com for the bootcamp details.