The only way you can guarantee long term growth and success of your business is to continually increase amount of money coming in. There are only 3 ways you can increase flow of money coming into your business:
1. Increase your number of customers (Get more new customers).
2. Increase average dollar amount of each purchase (Get bigger sales).
3. Increase frequency of purchases by your average customer (Get more repeat business).
You'll be amazed at impact a small increase in each category can have on your total volume of business. Do you think you can increase each of these 3 categories by just 5% or 10% -- or maybe more? An increase of only 10% in each category will increase your total income by 33%. A 25% increase will almost double it. Look at following illustration to see how this works:
Number of Average Purchases per Customers x Purchase x Per Customer = Total Income
500 x $30.00 x 2 = $30,000
If you increase each category by only 10% you'll increase your total income by 33%...
550 x $33.00 x 2.2 = $39,930
Suppose you can increase each category by 25%...
625 x $37.50 x 2.5 = $58,594
A 25% increase in each category almost doubles your income
Apply these numbers to your business and do some experimenting. Most businesses find it impractical to increase all 3 categories by exactly same percentage. It's easier and less expensive to increase average size of each purchase and number of purchases than to get more new customers. For example, you can double your total income with 3 following increases:
20% more new customers 20% bigger sales 40% more repeat business