The Business Builders Weekly Newsletter

Generating New Revenue Streams For Your Business

Every business owner wants to see their business grow.But you can’t grow your business without growing your revenue.

For many businesses, pursuing that growth is a constant, but necessary struggle to survive.To grow your revenue, your business has to make more sales – you can’t escape that, but you can increase your revenue streams so it’s easier to generate more sales.Put it this way, your business has to put its foot in as many doors as it can to improve its chances of bringing in more money.

3 Reasons Your Business Needs Referral Marketing

Man is a social animal.He has always shared his experience through word of mouth.From the ancient world when we were gatherers, man would pick fruits and vegetables and communicate how they tasted orally to others.This prevented many others from eating poisonous and bad tasting foods.

But as the world became more developed, we didn’t throw away this ancient trait, we just moved beyond fruits and roots and now share our experiences about products and services.

Word of mouth review is one of the most trusted review systems today. Simply because people tend to believe people they already trust. Statistics show that customers are 4 times more likely to buy when referred by friends.And when you combine this information with the fact that most customers today don’t trust brands and hence disdain traditional advertising, you get a sense as to why many businesses are hopping on the referral marketing train.

Step-By-Step Guide To Documenting Your Business Process

You don’t find a lot of small businesses documenting their processes.

This is simply because they don’t find any reason to.You see, in the early stages of a small business; when your employees are few, your processes are simple and mostly handled by a single person, you can easily choose to ignore documenting your business processes and suffer no harm.

But, as your business begins to grow; your client list expands rapidly, you’re recruiting more talent, your business processes begin to rely on several activities by more people to complete.Then choosing to ignore process documentation would hinder your business from serving your customers efficiently among other problems.