Success In The Business
Get The Superb Tips And Tricks In Business To Meet Success Through This Handbook And Learn The Amazing Ideas On Marketing Small Business, Cheap Web Traffic, Ebook Writing, Free Classified Advertising And A Whole Lot More!
Business & Finance, Marketing & Sales, Advertising & Promotion, Human Resources & Personnel Management, Skills, Entrepreneurship & Small Business
| Author: | Lucille B. Lee | ISBN: | 1230000024819 |
| Publisher: | KMS Publishing | Publication: | October 14, 2012 |
| Imprint: | Language: | English |
| Author: | Lucille B. Lee |
| ISBN: | 1230000024819 |
| Publisher: | KMS Publishing |
| Publication: | October 14, 2012 |
| Imprint: | |
| Language: | English |
small business
Whether you’re thinking it’s Spring Cleaning Time or time for an annual checkup, your business needs to undergo a checkup each year. No matter how large or small your business is, you cannot gauge the effectiveness of any changes you’ve made without analyzing the benefits and bottom line.
Here are 10 questions to get you started:
• How do your year-to-date sales compare to the last couple of years? Don’t be satisfied if you managed to match them because if sales stayed the same then you’ve achieved zero growth. With inflation, this flat growth line is a warning sign for more trouble down the road.
• What percentage of your business is from repeat customers? This is important to know because if it’s too low, then it needs to be improved. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
• How long has it been since you offered a new product or service? Loyal customers like to see you changing and progressing with the times. If you’re stuck for an idea, ask your customers what they need.
Get more!
small business
Whether you’re thinking it’s Spring Cleaning Time or time for an annual checkup, your business needs to undergo a checkup each year. No matter how large or small your business is, you cannot gauge the effectiveness of any changes you’ve made without analyzing the benefits and bottom line.
Here are 10 questions to get you started:
• How do your year-to-date sales compare to the last couple of years? Don’t be satisfied if you managed to match them because if sales stayed the same then you’ve achieved zero growth. With inflation, this flat growth line is a warning sign for more trouble down the road.
• What percentage of your business is from repeat customers? This is important to know because if it’s too low, then it needs to be improved. The estimated cost of getting a new customer versus retaining an existing one can be as much as five to one in terms of dollars spent. Keeping customers is more cost-effective than constantly seeking new ones.
• How long has it been since you offered a new product or service? Loyal customers like to see you changing and progressing with the times. If you’re stuck for an idea, ask your customers what they need.
Get more!
