Tips on Building Revenue for Your Business
It's a dog-eat-dog world. You must be prepared for anything when deciding to open your own practice or small business. And once you become a business owner, you need to know how to make your business grow. "What keeps business owners, practice owners and partners up at night is likely the challenge of managing and growing the business," says Steven Stralser, clinical professor at Thunderbird: The Garvin School of International Management and author of "MBA In A Day." In his book, Stralser addresses business professionals who have extensive training in certain industries but want to learn the skills necessary to manage businesses of their own. Packed with examples, helpful anecdotes and real-world case studies, this straightforward guide gives readers a comprehensive business education without having to spend the time and money on graduate school.
The book covers essential principles and concepts taught at today's top business schools. Topics include negotiation, accounting, marketing, effective communication, information technology and leadership. Stralser offers the following tips to help your business grow. * Focus on existing customers. With advertising and other marketing costs, finding new customers can be expensive.
Acquiring new business is important, of course, but so is keeping and growing your current clientele. * Stay in touch. Offer more products or services to existing customers, clients or patients. They will respond with loyalty and future business. Think "greater share" of customers instead of "market share." It's simpler and more profitable in the long-run. * Develop a Web presence. Developing a Web page puts information on your business right at the fingertips of clients or potential clients. And not only does accessing your Web site save them time, it saves you time as well. For example, a client can have access to old reports from past projects.
By having this information accessible online, you won't have to take time out of your busy schedule to print and ship the reports to that client.
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