5 Aggressively Growth Strategies To Double Your Profit

In my industry, there are two crucial months for business development: January and August. Normally, during a good year, every other month in jam packed with deadlines, client demands and rushed jobs. But when you only have 60 days out of 365 to rethink your business you need to be aggressive about setting your growth strategy and making sure you’re on the right course. Not sure which strategy is right for you? Below is an overview of intensive growth strategies to get you poppin’ to action.  

Increase The Size of Your Service. Logically, if people like what you do then they will want more of it. A simple and relatively less risky growth strategy is to sell more of the current product or services to your current and past customers. Make sure people can access your products in bundles of 9, 12 and 16 or that they can get on a monthly or yearly retainer to have access to your services full time. 

Searching The Avenues. Odds are you have one or two ways in which you sell your service or product successfully. It might be networking, going to tradeshows or email marketing but whatever your strategy its what makes sure the lights don’t go out. Stretch your wings and search for an additional channel that would help sell your service or product that you may not have experimented with until now. 

New Faces In The Crowd. If you are growing your products or services you might want to look at broadening your customer audience as well. Note, this only works if you were already marketing to a niche or very focused group of people. Once you become a specialist at marketing for lawyers, for example, then it’s easier to branch out and start doing marketing for professional services. If you are hyper-specialized then start to look at what other audiences might be interested in your services or products as well. 

Classic Biz Dev. A classic growth strategy, if you are content with your audience and see potential for more sales, is to simply add to your product or service list. Get on the phone with your clients and have a chat with them about what else they might need or want when it comes to your industry. How are they not being serviced? Then promise to be the person to fill in the gap. 

Going All In. One of the riskiest but sometimes most lucrative growth strategies is to create new products or services for new customers. This normally entails a lot of R&D work and customer interviews but if you do it right it can pay off big time. Start by interviewing prospects from your new audience to find out whether or not your product or service would be a good fit for them. Or, look to see where there are blind spots in your industry that you can shed light on. 

What’s your aggressive growth strategy for 2016? Let us know below or visit us at www.popcornprod.com.