Increasing Revenue

Date: 15th April 2019

In the life of a Business there are times when you want to Increase Revenue – take advantage of the marketplace, to counter moves by the competition or to help pay for new capital as part of your business plan – and so on.

Here are some ideas on action you can take to to create a surge in sales revenue:

  1. Create a USP (Unique Selling Proposition) for your product or service (see my previous blog)
  2. Develop your USP so that is keeping up with current market trends
  3. Make sure your product/service solves a problem
  4. Make sure you have a living Business Plan – review it regularly, make sure it is kept up to date with market changes
  5. Know and define your customer – everything you do should keep your customer in mind
  6. Have the best skilled staff you can get (I have lots of ideas on Recruitment and Retention)
  7. Make sure your decisions are based on solid data – not guesswork. Monitor your metrics.
  8. Get your pricing right- but don’t have it too low. If your USP is right you could get a premium.
  9. Learn negotiation techniques (selling or buying can be influenced)
  10. Use your Social Media and Website where appropriate (adapt, adjust and keep up to date).

There are many ways to boost your revenue or to counter a downturn in the market. It’s all a matter of being conscious of how your business is performing and taking the necessary action when required.

Get in touch with me to sit down and discuss your business over a coffee.

Regards,

Robin Martin

P.S. This article is part of my Secrets of Success series, aimed at helping business owners and entrepreneurs with some of the key components of business success. The insights I wish I’d had at the start of my business career. I hope that by passing on these little gems of knowledge I can give you some support and help you along the pathway to growth and prosperity.


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