4 Ways to Grow Your Business

4 Ways to Grow Your Business 

 

I don’t think there is a person on this planet who goes into business not expecting to make money. In a society where almost every interaction we have with others involves some type of use of technology and the internet, it is easier than ever to spread the word about your business and what your business offers. Really, because of social media, there is no reason why you can’t make money. We see people posting daily about their new product or service, online course, discount or special and the likes. So, what are you waiting on? What is stopping you from getting a piece of the pie? 

 

If you want to grow your business, here are four ways I’ve found that are easy revenue generating actions you can take immediately. 

 

  1. Form strategic partnerships. 

I’ve said it before and I’ll say it again: No man is an island. To get to your next level of being and doing, you have to connect with others. A strategic partnership guarantees that you leverage a relationship with a business associate that benefits both parties. You all can offer a service or product that complements you both, team up to host an event and tap into each other’s audiences, or you can simply become affiliates of each other’s programs and you both get paid! 

  1. Create a customer loyalty program. 

People love to feel valued and appreciated. If you have customers or clients who regularly do business with you, make them feel like you appreciate them being loyal and trusting you enough to spend their hard earned money with you. Offer them a 10% discount coupon every quarter. Give them a “buy-one-get-one” deal.” Here is an even better suggestion, offer them a referral fee for sending people your way as a way to say “thank you.” They’ll feel more involved in your business and take pride in helping you build. 

  1. Build passive income streams. 

Passive income is any income you make that is not directly tied to you doing work often. Passive income may come in the form of a book, a recorded online class, affiliate sales, trading stocks or even automating your savings account! When you get to a certain point in business, you’ll need passive income to keep you for burning out and to keep you from being locked down to work in your business. 

  1. Identify new opportunities. 

Times are changing and every day, there is a new way to make money. Not saying that you should jump on everything; but it may be a good practice to explore what opportunities are available that may help you level up in your business. You can become a certified business so you can do business with the government or you can offer your services to your local chamber of commerce in exchange for hosting a class for the community. Make a list of everything you want to do to make money and start acting on it. 

 

Plan to grow your business each year by making a new move monthly to generate business and increase your  

income. You don’t have to stay stuck or stagnant in business when you constantly look for ways to grow. 

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