11 Tips To Overcome Slow or Zero Growth

Everyone loves the perks that come with fast business growth: More income, staff, fame, power… If you are not experiencing such growth, then one of the 12 points I will share with you is the Judas… oh sorry – “help you need”. #1. MEASURE GROWTH: This advice is often underrated. And most people ignore it […]

Written By Godson

On January 21, 2020
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Everyone loves the perks that come with fast business growth:

More income, staff, fame, power…

If you are not experiencing such growth, then one of the 12 points I will share with you is the Judas… oh sorry – “help you need”.

#1. MEASURE GROWTH:

This advice is often underrated.

And most people ignore it to their own detriment.

Set a growth rate, measure it often and set goals based on that rate.

Example: if you plan on growing your revenue by 20% weekly and you make $100 in week 1. By week 2, push to ensure you get $120.

It may look small at the start until you get to week (x)!

#2. CREATE BETTER OFFERS:

An offer is a reason why the prospect has to buy now!

Create & promote irresistible offers.

Buy 2 & Get 1 Free work better than just selling a product.

Example: Fresh Hot Pizza in 30 Mins or its free…

#3. TAKE CUSTOMER SURVEYS:

Surveys would help you figure out why your numbers are low.

Perhaps your product sucks, or its priced too high or (weirdly… too low)

Ask your customers to rate your business.

Positive feedback would keep you motivated. Use them to show credibility in your ad campaigns

And use negative feedback to improve.

#4. ASK FOR REFERRALS:

You know:

Internet Marketing is my bread & butter.

Because it allows me to drive consistent, predictable sales & revenue numbers

Usually, around 4x – 10x my Ad spend (…and on a rare occasion 20x)

But that doesn’t mean referrals don’t work.

If you have satisfied customers, ask them for referrals.

Say something like “Is there any other important person like you who needs my product?”

This waters their ego feeling of “importance” and helps them send you numbers fast!

#5. USE ONLINE MARKETING:

I just mentioned this…

If you want consistent and predictable sales, online marketing would help you greatly

If you don’t know how it is done, you can consult a marketing agency or consultant like me to get up and running fast!

#6. TAKE YOUR BUSINESS ONLINE:

I know this sounds crazy…

You might be asking “Who doesn’t have a website already”

The answer would surprise you.

There are still millions of businesses that don’t.

You should know that Millions of people search for products /services online daily, why aren’t you online.

First, start by hiring someone to build a website, and then optimize this site to rank on search engines.

Freelancers can help you handle this on sites like Miduman.com

#7. IT MAY BE TIME TO REBRAND:

Last year, I was looking for an automobile expert to help scan one of my SUV’s

I always want to know what’s wrong before taking it to a service center.

So, I went online and search for the closest OBD scanner around me, and of course, I got millions of search results.

After checking through maybe 8 different websites, I eventually hired the guys with the best logo and branding.

Pay attention to your taglines, logos, Signboards, etc.

If they don’t send the correct message, it may be time to rebrand.

#8. GET A MENTOR

Regardless of your business type, there is likely someone who has succeeded in it and you should be walking their paths.

Look for such people and connect with them.

Ask intelligent questions like

  • What do my customers want?
  • What is their toughest problem I solve?
  • How can I get them to spend more?
  • How can I reach them cheaply?

When you get those answers, implement them quickly.

You also want to give feedback to your mentor regularly.

If you can’t find a mentor free, try getting a paid one – coach

#9. TIME TO QUIT & START AGAIN

If the market is too small, the profit margins are little, you may have gotten to a dead-end that leads nowhere.

Changing your business might be your best option.

#10. CHECK YOUR PRICING

I remember early at the start of my business, I was lucky to have read “Business Strategy by Brain Tracy”.

That book brought a fundamental shift in my business and I was able to crush my competition using a different pricing approach.

Listen to me.

Cheap doesn’t always win but make sure you are not expensive either. What you want to be is Affordable.

For instance, instead of reducing your price from $5,000 one time payment, can you break it down into small payments of $1,000 monthly for 5 months.

This would help you get the 80% who can afford a $5k outright payment.

#11. UPGRADE YOUR OFFICE

A poor looking office affects your motivation/productivity and likely discourages customers.

Spend money to upgrade your work station.

Use proper lighting, flowers, artwork, colors, air conditioners, etc.

SUMMARY

I hope you found this helpful. If you have questions or any other topic you want me to write on, kindly mention it in the comment box (…it takes less than a minute or so.)

THE END.

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About Godson Okorodudu

He is the Founder & CEO of Miduman.com & Zappysend.com. A stellar alumnus of YCombinator SUS, San-fransisco California.

He is a genuis marketer and business strategy consultant, public speaker and is fully vested into helping young businesses around the world (especially in Africa) through the educational programs he promotes.

 

 

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