Four Methods to Increase Revenue

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What are the “Four Methods to Increase Revenue”?

“Money is plentiful for those who understand the simple laws which govern its acquisition.” — George Clayson, author of The Richest Man in Babylon

Key Points:

• There are only four ways to increase revenue:
  
  
  
  • Increasing the number of customers.
  • Increasing average transaction size. Try to get each customer to purchase more.
  • Increasing the frequency of transactions per customer. Try to get each customer to purchase more often.
  • Raising your prices.
• Remember the lesson of Qualification: not every customer is a good customer.
• Always focus the majority of your efforts on serving your ideal customers. The more ideal customers you attract, the better the business.

Questions for Consideration:

• How can you use the 4 methods to increase your business’ revenue?
• How can you encourage your customers to become more like your ideal customer?

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