As a business coach, one of the methods I use is a simple but powerful process to help my clients maximise their business.
It’s called the 5 ways and is based on:
1 Number of Leads
2 % conversion rate
3 Av £ sale value
4 Number of transactions
5 % margin
For example a 10% increase in EACH of these 5 ways would generate a 46% increase in sales and a 61% increase in margin. Great outcomes I’m sure you’d agree.
You can do this for your business as a whole as well as for individual key product streams.
Now you might be thinking “that’s all very well and good, you can do anything with numbers”….any you’d be right.
The point here is that with the right strategies and actions against each strategy, combined with diligent testing and measuring, this process really works.
I use it all the time with clients as a basis for their growth.
Why not find out more about the 5 ways and other business growth concepts that you can put into practice to grow your business. My forthcoming workshops are listed on my website at http://www.actioncoach.com/briandoubleday/events/ with quick and easy sign up links.
