5 Strategies That Will Boost Your Business Productivity Today! – Part 1
Building a dynamic small business is an increasingly demanding and constantly evolving role.
It’s so easy to get so caught up in the day-to-day running of our business that we don’t take the time to look outside to see what we can do to improve our bottom line!
Well, here are 5 strategies that could increase your productivity overnight!
They’re not rocket science…and you may have heard some of them before, but they are 5 proven principles you can review today to help you stay on top of the real issues growing your business from here.
So why don’t you take 15 minutes… make yourself some coffee… and recharge your batteries?
1. Define your Unique Selling Proposition (USP) in one sentence
What is at the heart of your business that makes it unique and attractive to your customers? Summarize the key selling points that make your product or service a “must have” for your customers.
You probably did this exercise when you started your business… but you need to regularly remind yourself why you’re doing what you’re doing!
New competitors may have emerged and you may not have the same uniqueness you once did.
Maybe it’s time to reinvent yourself and get that edge over the market once again!
2. Identify who your target market is
When you started your business, you knew exactly who your target market was. Is this market still the same, or have they grown… or have they matured in their clothing purchases?
Has new technology outgrown your ideas?
Imagine if video rental stores had stubbornly refused to rent DVDs because they were just a video store! Your market may have changed and you may need to re-evaluate who you are trying to reach.
Your original target market has aged since you started and if you are still promoting your products or services to this same group, their needs may be different!
3. Would you like fries with that?
McDonalds has made an additional fortune by training each of its sales force to ask a simple question with every order: “Would you like fries with that?”
The other day I went shopping for an inner tube to fix my daughter’s bike flat and instead of selling me a new inner tube, the clever salesman at the bike shop sincerely asked me if I had the right tools to fix it.
I didn’t, but of course he did… so he cleverly added value to my shopping experience and added extra profit to his bottom line.
What service or product can you offer people to make their original purchase with you even more worthwhile?
4. Do you establish where your customers go before and after visiting you?
If you can determine this, you can add instant profit to your business.
Imagine if you owned a Real Estate business. Wouldn’t it make sense to have a settlement agent in house? And what about a mortgage broker? Or even a moving company?
Maybe you could rent a large furniture trailer with your company name emblazoned all over it!
Ask yourself the same question and you can start adding other services that complement your current business and watch your profits grow!
5. Ask your current clients for referrals
If you’re providing a great product or service, then your biggest fans will be your existing customers.
Why not offer them an incentive to connect you with people like them who would also benefit from your services?
It doesn’t have to be something really expensive…maybe even 10% off your next purchase.
I referred some friends to a mortgage broker a few months ago…and had completely forgotten…until last week I received 2 movie tickets in the mail thanking me for the gesture.
A $20 investment leaves a good impression on my mind that will probably make me think of it again when my next friend asks me if I know a good mortgage broker!
Be sure to check out the second part of this article for another 5 strategies to improve your small business success!