5 tips to create value in your business

Linda Business, Efficiency, Goals, Marketing Leave a Comment

It’s down to you. The buck stops with you! So lets look at how we can create more value in your business.

1. Think like a customer

I know it’s a bit obvious, but your customers are interested in what’s good for them, not you. They don’t really care how hard you work or how much more complicated your business is from those of your competitors. They don’t care how much you spend on overhead or what regulations you suffer through. The only things they care about are what you can do for them and how much it will cost them.

Imagine they all have a massive post it on their forehead that says “MAKE ME FEEL IMPORTANT!”

By focusing on your business from their point of view, you will be able to discover what is right and what is wrong about your sales program. By keeping your eye on your customers’ changing needs and evolving desires, you’ll be able to create new products and services that will attract them.

To think like a customer, you have to be able to put yourself in their shoes.

Here are some questions you can ask yourself:

* What do our customers want from our business? Go beyond just product and service

* How can you provide value add, and then give them more of that? In other words, in what other ways can we reinvent, replicate, reproduce, renovate, refine, and renew the fundamental benefits of our business?

* What are the primary challenges that come with the benefits of your business? How can you reduce or eliminate them?

2. Systemise your business

There are really 7 reasons why you need to systemise your business, these are: TIME, CONTROL, SANITY, EFFICIENCY, EMPOWERMENT, CONSISTENCY, VALUE. until you systemise your business you will be a slave to your business. Starting on the right track to systemising your business isn’t really that hard if you spend time planning out the structure and strategy first. This the mere thought of it overwhelms you start small, but start. Call it BCP (business continuity planning) just call it good sense, but could your business run without you? If you’re not sure, then you need to systemise your business – think of it as making yourself redundant – it really does work.

 

3. Build reoccuring revenue streams

It’s just smart business – to have multiple streams of income. An evolution of the old saying don’t put all your eggs in one basket! Whether its a property portfolio + an MLM company + others.

There’s a great Huffington Post blog on the subject Top 8 ways to create passive income. Create passive income

4. Know your numbers

To help ensure that your business stays in the black, take the time to familiarise yourself with these seven key financial numbers.

  1. Cash Flow. Operating cash flow offers a bird’s-eye view of the economic state of your business
  2. Net Income
  3. Profit and Loss
  4. Sales
  5. Price Point
  6. Gross Margin
  7. Total Inventory

Read my blog on The numbers you need to know to grow your business. Know your numbers!

Don’t skim over this bit because you feel uncomfortable or overwhelmed by them – get under the skin of your business numbers – its important!

5. Tell everyone

There is absolutely no point having a great idea, or a great business for that fact if you don’t tell anyone. However it takes courage to act, to tell everyone, to essentially market your idea, your product, your service  – your business.

Tell everyone – don’t be shy, you need to tell everyone about your business, you need a marketing strategy to make sure the plan becomes a reality.

Your marketing strategy is the foundation of a marketing plan. Your marketing plan is a comprehensive document or blueprint that outlines your efforts in  advertising and marketing  for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame.

Use whatever media works for you, social media, email marketing, print (although I’d question this), whatever works best for you and your business. What gives you the best return? If you don’t know which one, why not? Test everything and know your marketing numbers.

However, lots of business owners I know love their businesses, they’re proud of their business, passionately believe in the product and their service and yet they say they can’t sell. I’d challenge that and say “can’t sell, won’t sell!

I’d encourage you to switch your thinking – sales can be sexy, and sales is a critical and integral part of your plan. Best of luck with your planning. Plan to be successful!

If you need help with any of this then please get in touch and book yourself a FREE strategy session with me asap.

Hugs…

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The Master Fixer

www.lindadaviescarr.com

PS: For a daily boost of motivation, support, a challenge and for making a difference with you or your business, please join us at https://www.facebook.com/lindamasterfix

 

 

 

 

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