Four Ways to Grow Your Business

Four Roads to a Thriving Business

According to most experts in the field, there are really only four ways to grow your business:

  1. Increase the number of customers
  2. Get them coming back more often
  3. Increase the average spend
  4. Improve the effectiveness of every business process

For example, a local art gallery worked with their trusted CPA to improve their profitability significantly by running a series of quarterly themes through the year. Before each quarter, they gathered their small team together while the CPA led a brainstorming session: what could they do to improve the key focus of the quarter? In other words, they set a clear goal and prioritized the top three actions to be implemented in the next 90 days.

four ways to grow your business

A CPA’s smart plan turned a art gallery’s business around.

Examples of the projects they set in motion included:

Increase number of customers

  • Identify who customers are and nurture them
  • Referral campaign
  • Introduce an online store

Get them coming back

  • Birthday emails and texts
  • Record customer preferences and personalized emails when new pieces became available

Increase average spend

  • Test price increases
  • Reduce discounts (offered to customers who didn’t ask for them)

There are countless ideas out there to improve your business, but if you try to do a hundred things, you’ll likely do next to nothing. Plan, prioritize, and implement a small number of things instead.

If you need someone to hold your business accountable for the success it deserves, call Scott A. Kunkel, CPA PC today in North Richland Hills at 817-498-1040 to have a chat.

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Source: Panalitix

Scott A. Kunkel, CPA, PC

7801 Mid-Cities Blvd. Suite 400
North Richland Hills, TX 76182

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Call us now 817-498-1040 or contact us online to schedule a free consultation session.