What strategy will help you grow your business most profitably?

What strategy will help you grow your business most profitably? There are many different ways that we can grow our business. We can grow our business by cutting our prices. We can grow our business by acquiring other businesses. These tactics will work in the short-run. For example, if we cut our prices in the short-term it may attract additional customers but at what cost? If that strategy is used as a continuing competitive strategy, it will ultimately affect the brand of our firm in the marketplace and ultimately cause a reduction in our margins. This will in turn put us on a tread-mill to an ever decreasing margin. If we try to only grow our business through acquisitions, this will always come at a price or cost. In other words, we have to make an investment to buy out the company and then try to develop a relationship with the other company customers and hope that we keep enough of them to make it worth our while. There is another way. There is a better way. Why don't we grow new customers from our existing customer-base? This is called organic growth. This comes from creating a fully engaged customer base. Do you know how engaged your customers are? Research tells us that the average business does about one-third of the business they could do from their current customers. In other words, if you do one million in sales, then there are approximately 2 million in sales potential from your existing clients. In order to increase the amount of business you do with current clients and acquire new customers from your current customers, you have to fully engage them. The market place shows us that customers who are fully engaged represent an average of 23% premium in terms of share of wallet, profitability, revenue and relationship growth over the average customer. Companies that engage both their employees and customers gain a 240% boost in performance-related business outcome. To learn more about scheduling a discussion session call (919)348-9153 or (804)651-5400 or reply to this email. Testimonial: "Amos is a fantastic resource. They have given us ideas and support to help take us to a new level" - Business Owner