If you want to grow your business, you must focus on a few core efficiency considerations, such as increasing:
- the number of customers
- the number of sales, including from returning customers
- the average value of each sale
However, focusing solely on your customers or sales will not necessarily enable you to grow your business profitably.
Improving business processes
To make the most of growth opportunities, you must also look at the effectiveness and efficiency of all your business processes, including production, marketing, selling, customer service, finance management, workforce performance and other operational processes.
This short video will help you consider if you are getting the most out of your business and give you tips and strategies for growing profitably.