NEW SERIES – Many ways to grow your business – part 1

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This being the first in the series of “grow your business” ideas – we’ll start with the most obvious business development tip of all time:

To increase your sales figure you can:

  1. Increase the number of customers
  2. Increase the number of times each one does business with you
  3. Increase the average value of each transaction
  4. Increase your own effectiveness and efficiency

What is not so obvious is the importance of concentrating on turnover compared to costs.  A small increase in turnover can result in a large increases in profits.  Tightening costs can help profitability, but rarely drastically.