10 Steps to Grow your Business  in Good or Bad Times
<ul><li>48% of Sales people never follow up  </li></ul><ul><li>25% of Sales people make a 2nd touch  </li></ul><ul><li>12%...
<ul><li>Why do customers leave?  </li></ul><ul><ul><li>1% will die  </li></ul></ul><ul><ul><li>3% will move away  </li></u...
<ul><li>Are you doing what it takes? </li></ul><ul><ul><li>5% of Sales are made on the 3rd touch  </li></ul></ul><ul><ul><...
<ul><li>Current Status </li></ul><ul><li>Get Efficient w/Technology </li></ul><ul><li>Enhance Customer Experience </li></u...
<ul><li>Measure and Analyze </li></ul><ul><ul><li>Establish Key Metrics  </li></ul></ul><ul><ul><li>Understand Your Financ...
<ul><li>Computers  </li></ul><ul><li>Gadgets  </li></ul><ul><li>Software  </li></ul><ul><li>Online Tools  </li></ul>
<ul><li>Formalize a Customer Relationship Management (CRM) Strategy  </li></ul><ul><li>Create a Culture </li></ul><ul><li>...
<ul><li>Advantageous Payment Terms  </li></ul><ul><li>Volume Discounts  </li></ul><ul><li>Know Upcoming Products  </li></ul>
<ul><li>Expand What You Offer  </li></ul><ul><li>Enter a New Niche  </li></ul>
<ul><li>Tap the Web  </li></ul><ul><li>Create a Catalog  </li></ul><ul><li>Use Sales Reps  </li></ul><ul><li>Go Global  </...
<ul><li>Vendor and Customer Financing  </li></ul><ul><li>Debt Financing  </li></ul><ul><li>Angel Investors  </li></ul><ul>...
<ul><li>Define and Display Your End Goals  </li></ul><ul><li>Have All Team Members Take Ownership  </li></ul><ul><li>Find ...
<ul><li>Promotions  </li></ul><ul><li>Creative Advertising Ideas  </li></ul><ul><li>Campaigns and Continuity  </li></ul><u...
<ul><li>Segue to proactive mode  </li></ul><ul><li>Identify prospects  </li></ul><ul><li>Lean on loyals for referrals  </l...
<ul><li>The Hook </li></ul><ul><ul><li>Short – Impactful Elevator Pitch </li></ul></ul><ul><ul><li>Create Urgency - Draw A...
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Growing Your Business Dream

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10 steps on how to survive and thrive in a stalled economy.

Condensed from various articles and research to offer concise information.

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  • Growing Your Business Dream

    1. 1. 10 Steps to Grow your Business in Good or Bad Times
    2. 2. <ul><li>48% of Sales people never follow up </li></ul><ul><li>25% of Sales people make a 2nd touch </li></ul><ul><li>12% of Sales people make 3 touches and quit </li></ul><ul><li>10% of Sales people make more than 3 touches </li></ul><ul><li>2% of Sales are made on the 1st touch </li></ul><ul><li>3% of Sales are made on the 2nd touch </li></ul><ul><li>5% of Sales are made on the 3rd touch </li></ul><ul><li>10% of Sales are made on the 4th touch </li></ul><ul><li>80% of Sales are made on the 5th-12th touch </li></ul>
    3. 3. <ul><li>Why do customers leave? </li></ul><ul><ul><li>1% will die </li></ul></ul><ul><ul><li>3% will move away </li></ul></ul><ul><ul><li>5% will buy from a friend </li></ul></ul><ul><ul><li>9% will buy from a competitor </li></ul></ul><ul><ul><li>14% will buy from another for product price </li></ul></ul><ul><ul><li>68% will leave due to perceived indifference </li></ul></ul><ul><li>What about continued relationships? </li></ul><ul><ul><li>Repeat customers spend 33% more than new </li></ul></ul><ul><ul><li>Referrals from repeat customers are 107% greater </li></ul></ul><ul><ul><li>Cost 6 times as much to sell to new customers </li></ul></ul>
    4. 4. <ul><li>Are you doing what it takes? </li></ul><ul><ul><li>5% of Sales are made on the 3rd touch </li></ul></ul><ul><ul><li>10% of Sales are made on the 4th touch </li></ul></ul><ul><ul><li>80% of Sales are made on the 5th-12th touch </li></ul></ul><ul><li>What do you do about it? </li></ul><ul><ul><li>5% will buy from a friend </li></ul></ul><ul><ul><li>9% will buy from a competitor </li></ul></ul><ul><ul><li>14% will buy from another for product price </li></ul></ul><ul><ul><li>68% will leave due to perceived indifference </li></ul></ul>
    5. 5. <ul><li>Current Status </li></ul><ul><li>Get Efficient w/Technology </li></ul><ul><li>Enhance Customer Experience </li></ul><ul><li>Cozy Up With Vendors </li></ul><ul><li>Maximize Your Niche </li></ul><ul><li>Develop New Channels </li></ul><ul><li>Acquire Growth Capital </li></ul><ul><li>Create a Culture </li></ul><ul><li>Ramp Up Awareness & Demand </li></ul><ul><li>Improve Sales Techniques </li></ul>
    6. 6. <ul><li>Measure and Analyze </li></ul><ul><ul><li>Establish Key Metrics </li></ul></ul><ul><ul><li>Understand Your Financials – </li></ul></ul><ul><ul><ul><li>Review Margins, Cash Flow </li></ul></ul></ul><ul><ul><li>Review the Competitive Landscape </li></ul></ul><ul><ul><li>Consider Customer Surveys </li></ul></ul><ul><ul><li>Use Online Analytics </li></ul></ul><ul><ul><li>Revisit Assumptions from Your Business Plan </li></ul></ul>
    7. 7. <ul><li>Computers </li></ul><ul><li>Gadgets </li></ul><ul><li>Software </li></ul><ul><li>Online Tools </li></ul>
    8. 8. <ul><li>Formalize a Customer Relationship Management (CRM) Strategy </li></ul><ul><li>Create a Culture </li></ul><ul><li>Provide Incentives for Return/Repeat Business </li></ul><ul><li>Offer Bonuses to Reward Loyalty </li></ul><ul><li>Cultivate Passionate, Engaged Employees </li></ul>
    9. 9. <ul><li>Advantageous Payment Terms </li></ul><ul><li>Volume Discounts </li></ul><ul><li>Know Upcoming Products </li></ul>
    10. 10. <ul><li>Expand What You Offer </li></ul><ul><li>Enter a New Niche </li></ul>
    11. 11. <ul><li>Tap the Web </li></ul><ul><li>Create a Catalog </li></ul><ul><li>Use Sales Reps </li></ul><ul><li>Go Global </li></ul><ul><li>Add Wholesale </li></ul><ul><li>Try Brick-and-Mortar </li></ul><ul><li>Add New Locations </li></ul><ul><li>Weigh the Franchise Opportunity </li></ul>
    12. 12. <ul><li>Vendor and Customer Financing </li></ul><ul><li>Debt Financing </li></ul><ul><li>Angel Investors </li></ul><ul><li>Sophisticated Financial Partners </li></ul><ul><li>Initial Public Offering (IPO) </li></ul>
    13. 13. <ul><li>Define and Display Your End Goals </li></ul><ul><li>Have All Team Members Take Ownership </li></ul><ul><li>Find and Apply “Best Practices” </li></ul><ul><li>Create a Social Agenda </li></ul>
    14. 14. <ul><li>Promotions </li></ul><ul><li>Creative Advertising Ideas </li></ul><ul><li>Campaigns and Continuity </li></ul><ul><li>Narrowcasting (vs. Broadcasting) </li></ul><ul><li>Types of People to Target </li></ul><ul><li>Networking </li></ul>
    15. 15. <ul><li>Segue to proactive mode </li></ul><ul><li>Identify prospects </li></ul><ul><li>Lean on loyals for referrals </li></ul><ul><li>Create a strong pitch </li></ul><ul><li>Cross-sell and up-sell existing customers </li></ul><ul><li>Get partners to sell for you </li></ul><ul><li>Follow up (with thanks) after the sale </li></ul>
    16. 16. <ul><li>The Hook </li></ul><ul><ul><li>Short – Impactful Elevator Pitch </li></ul></ul><ul><ul><li>Create Urgency - Draw Attention </li></ul></ul><ul><li>Timely Piece </li></ul><ul><ul><li>Tie-in to Current Events </li></ul></ul><ul><ul><li>Time of Year </li></ul></ul><ul><li>Explain Your Topic in a ‘Media’ Way </li></ul><ul><ul><li>One-sheet impactful presentation – Why? </li></ul></ul><ul><ul><li>Be Entertaining – Delightful – Real </li></ul></ul><ul><li>Create Relationships w/ Local Media </li></ul><ul><ul><li>Newspaper, Television. Radio, Internet Hosts </li></ul></ul>

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