Sunday, 20 of May of 2012

The Fastest Way To Double Your Business Income

Want to know the fastest way to double your business income?
The proof is in the charts.

Sample Business

Current

Number of customers

1,000

Dollar value of average transaction

$100

Average number of transactions per year

2

Buying lifetime of average customer (years)

5

Total income

$1,000,000

But consider what the significance would be if you were to increase each category
by only 10 percent?

Current

+10%

Number of customers

1,000

1,100

Dollar value of average transaction

$100

$110

Average number of transactions per year

2

2.2

Buying lifetime of average customer (years)

5

5.5

Total income

$1,000,000

$1,464,100

The cumulative increase would be 46.4 percent! Not a bad increase in anyone’s book!

Think about your own business. How difficult would it be for you to increase the number
of customers you have by 10 percent? How about getting just 10 percent more from each
purchase?

And, with a little extra effort, do you think it would be difficult to get your customers… people
who are already doing business with you, who know you, like you, and trust you… to buy
more often or stay with you just 10 percent longer?

If you think about it, it probably wouldn’t take much to accomplish any of those goals.
But the resultant increase in income would be incredible.

Now take a look at your own business. In the table below, put in the number of current
customers (clients, patients, etc.) you have, how much they spend with you on average,
how many times they buy from you in a years’ time, and how long they do business with
you before they no longer need the products or services you sell, or they move to another
supplier or vendor.

Then, run some quick calculations on what would happen if you were to increase each of
the categories by whatever percentages you think would be realistic and doable for your
particular business in the current economy.

Your Business Example

Current

Percent Increase

New Increase

Number of customers

Dollar value of average transaction

Average number of transactions per year

Buying lifetime of average customer (years)

Total income

**Side NoteIf you don’t know all of those four things in your business, that is the first
indication that you are not maximizing your revenue and profit generating potential.
This needs to be fixed IMMEDIATELY.**

So I hope that you can see that if you just strive to increase a little bit each each of
these four areas that your income and revenues will skyrocket just with a few little tweaks.

Don’t make things more difficult than they really are.

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