It’s all about sales. Sales are our bottom line, right? We all know that we have to sell enough of our product or service to make a profit. If we don’t, we loose. When you think about it, its pretty cut and dry. Revenue must exceed expenses.
So, the question remains, how do you increase sales? You can do this in two ways. 1) You can increase the number of widgets or services that you provide. or 2) You can increase the profit margin of the widgets or services that you provide to your current customers. You must decide which one will work for you.
Increasing the number of widgets or services that you provide, will get you more sales. But sometimes is more difficult. It may mean adding more “Sales Time” to your schedule. For example, you may be spending too much time on non-sales tasks. So use your delegation tool and give the non-sales work to others, so that your time is spent better on attaining new customers and sales.
Increasing your profit margin means taking a good look at your current product or services, and possibly increasing prices. It may also mean adding additional services on to your current clients. For example; we have website clients. By focusing on our current customers, and promoting add-on services for the website (like mobilizing a website), we are adding income to our bottom line. It’s kind of like super-sizing McDonald’s French Fries.
So think about these two ways to increase sales. Which one will ultimately work better for your company, or will you be doing both? There is certainly a strategy involved, so planning is important. Setting goals is important. Sales are important to your survival, and your success.