Introducing the 5 x 5 business growth plan.
Here’s a tool that has taken me decades to come up with but is yours free today if you implement (sadly most won’t but you’re not one of those right)!
The 5 x 5 plan involves taking the 5 areas you must work on to grow any business:
2. Conversion to client
3. Number of transactions a client makes
4. Value of an average sale
There are dozens of ways to get results in each area but I recommend you aim to write down 5 for your business. Then implement them in the order of highest likely impact down.
For example in the leads area most business can benefit from focusing their lead generation on their ‘best possible’ clients rather than trying to target everyone. Most businesses can also improve the offers/calls to action on their websites. So that would be 2 strategies. Keep going till you get your 5.
In the area of conversion one strategy can be as simple as asking for the order. I used this recently with a day spa and just asked them to always ask for the booking. As a result they are now getting several extra bookings each week. Another strategy that many businesses can use is a low cost trial offer. Make it easy for a client to try you out at low cost/low risk and then keep marketing to them once they are a client.
Average sale can be easily boosted by having premium priced versions of what you sell. You can also offer more of what they want at the time of purchase and give some type of discount if they buy more. It can also be boosted by taking
Margins can be improved also by
What is Your USP Unique Selling Point
Always Standout In A Busy Marketplace. Break industry norms. Follow them and you’ll get average results.
Defy them and you can get amazing results.
Every industry has norms (the way things are done in this industry). They develop over time based on people looking at what everyone else does and doing the same thing. Thinking it must work.
The 5% doing really well are almost always doing something very different to everyone else in the industry.
So here’s a simple exercise that you can use to breakaway from blindly following industry norms.
Step 1 – Write down all the industry norms you can think of. Focus especially on standard marketing practices, how customers are looked after, whether companies focus on acquiring new clients or looking after existing clients. You can look at any other systems and processes as well here.
Step 2 – For each norm ask is this absolutely necessary? Is this the best possible way to do things? How would a client like to see this done?
Step 3 – Write out how YOU do things differently and why you do. Your clients need to understand why you’re doing what you’re doing and why it’s to their advantage.
Step 4 – Market what you do and how you do aggressively. Be prepared to cope flack as you’re going against the status quo and your competition won’t like it and will probably think you’re nuts. But if you stay firm in doing it the way you feel is right and it is in your clients best interests you will come through the other side with a better business.
Create a Business Elevator Pitch
An elevator pitch is your
The hard part is you have 30 seconds to convince a stranger that you are the authority figure on their problem or the
Your offer is everything in marketing. Yet hardly anyone spends enough time working on it.
So we need to work hard to make our offer attractive to our desired clients. This means RESEARCH into their biggest wants, needs, desires and frustrations that your product or service helps
If you can help solve a problem they go to bed thinking about and wake up thinking about then that’s the basis of building a great business IF you match it with a great offer.
Let’s see if we can make our initial offers sound a bit more interesting:
Better – I design websites that you get you more leads.
Better again – I create websites that get personal trainers 20 new clients a month guaranteed.
The latter is strong because it has a clear audience, a clear result and a guarantee.
Better – I help you reduce your personal tax bill.
Better again – I help you get at least 10% more back on your annual tax return and if there is ever any query from the ATO I will represent you FREE of charge.
Again the latter one is more specific and has a performance guarantee.
ow with proper time and research both of these could be improved a lot but hopefully you get the idea.
Action step go and look at your offer. Firstly are you making one? Is it clear? Is it specific? Is it guaranteed?
If you’d like feedback on your offer you’re welcome to post it below for comment.
So there’s a few ideas to get you started. Start working on your 5 x 5 plan today. If you’d like a free copy of the template I use for this feel free to message me and I’ll send you a copy