Welcome back entrepreneurs. It is a new year and I have been working on ways to make your business better, to take you from being a business operator to being a business owner so that you can have the time freedom to do what you absolutely love to do.
We’re starting with a four-part video series on the three ways that you can increase your business. The first video is to give you the overview of what those three things are that you need to do to increase your business, and then each week for the next three weeks, we’re going to dive into each one of those and give specific examples on how you can implement that in your business
The first thing that you need to do to increase your business is increase clients. Obviously, get more clients, get more leads, get more people coming into your business.
The second thing is to increase the average spend per customer, whether that’s upgrading them to another service or upgrading them to an add-on item.
The third way to increase revenue is getting your clients to come more frequently. If your clients are visiting you four times a month, get them to come five times a month. If you’re in a fitness business, get them to come three times a week instead of two. The frequency of the purchase is going to increase. This would work for dental offices and cosmetic procedures like facials and medical stuff for the face like Botox and Juvederm and all the fillers and stuff like that. It is critical to get your clients to come back on a more frequent basis.
I think dentists are pretty good to make sure that you’re coming back in your six months, but imagine, you get that call at six months, it might take another month to get you in and get that teeth cleaning and then that’s really seven months. What if you start that process at four months and you get them to come in at that five month mark. You are assured that you’re going to get two cleanings a year out of that client. Maybe even three cleanings a year to increase revenue and obviously their oral health as well.
Those are some examples, but we’re going to dive into them in a lot more detail in the next three videos. I also want to give you a spreadsheet that lists out how you can increase your business. If you increase any of the areas by 10%, you’ll actually increase your business 33% because it’s a compounding piece. You might say, “Well I’m at capacity with the number of people I can serve.” Okay, so don’t increase new clients. What about increasing the average spend per client and then the frequency of visit or frequency that they come in and spend money? Increase those two and you increase your business multiple, multiple times.
You can also play with different percentages of how you can increase your business. Maybe it’s increasing the number of new clients from 10% to 25%. If you can get them to come in one more time a month, that’s a 12 time increase each year. That’s pretty substantial. Let’s just say you can increase that by 25% as well. This little calculator that I have will give you the bottom line percentage of increase but also, when you fill in the dollar amount that each client is worth, and it will calculate exactly how much more money that you can make in the year. It doesn’t cost you any additional money for the most part. That’s the exciting part. You’re increasing what’s already there and in incremental pieces and it’s a beautiful thing.
I want you to download this spreadsheet before next week’s video gets released so that you can have an idea of what percentages that you would like to have in each one of those buckets. I love spreadsheets and this is easy to use. You just plug in three numbers in the yellow squares. Download that at Tea with Tom on Facebook. If you’re not in my Facebook group, go ahead and request to be entered. Or you can send me an email or fill out the form on TomJackobs.com, right here, and I will send it to you.
My mission is to get you from being an operator into being a business owner. If you have any questions in that realm, please shoot them over to me. I’d love to talk to you about it. I look forward to chatting with you soon.
