As business owners, we would love nothing more than for customers to keep purchasing our goods and services over and over again. How can we create loyal repeat customers who adore our brands without kidnapping our clients? Luckily, at eLaunchers, we have client retention secrets to spare.
Whether or not you are aware of it, your customers leave your office, Zoom call or shop and tell the world what they think. This may be negative feedback that discourages others from approaching your business or using your product, but it can also consist of rave reviews that get others interested in your offer.
Before one can even lay the foundations of a long-lasting building, architectural plans must be drawn up and approved. Similarly, before you can create a resilient, sustainable business that is ready to grow at speed, you need to create a detailed marketing plan that sets you and your business on the right track.
When you are starting your own business or practice, you have most probably assessed prices, overheads, profits, and reserves. This may not be the most sufficient if you want to grow without working your fingers to the bone. Economics is not only for big conglomerates - they have an important role to play in small businesses.
Small Business Economics
We all know that more sales should mean business growth and profit. We also know that each sale can require A LOT of work, even if you are using my Business Kamasutra methodology. While my method can position you to make sales soar, it still requires an investment of effort, as all successful relationships do.
But here’s one of my most valuable business tips that makes a lot of money with the same amount of effort - prioritize referrals!
If you are a dentist interested in dental marketing for their dental practice, you may have come across many agencies that have said they can do marketing for any industry, including dentistry. And therein lies the rub - healthcare is not just a business - it is a vocation that helps and educates people, so they achieve a better quality of life. You are not “just” selling a service or experience - a person’s quality of life and health is directly linked to your work. Very few non-medical industries can claim this, and this is where dental marketing is different.
Cash reserves are an important part of business economics and are a critical pillar of your business growth. This doesn’t mean it is easy to build these reserves, especially for small businesses and dental practices.
Let’s look at their importance and how to build them up.
Renegotiate your debt with your creditors to ease your debt pressure, as they will often accept longer settlement periods. This lowers monthly installments, and you can allocate the difference to building cash reserves. If they are not open to re-negotiation, then take your debt elsewhere for a better deal.
Today, we have a universe of business information available to us with infinite options. So why are thousands of entrepreneurs in dentistry, retail, services, and every kind of industry flailing about with shaky income certainty?
Keep reading to find out how the Business Kamasutra gives you control of your future!
Why Is Universal Information Not Helpful?
Having infinite information is not great. You need the right information and a business plan that you can use monthly. And the latter is mostly missing from struggling businesses.
Topics: Business Kamasutra
Any business consultant, marketing agency, business broker, or venture capitalist will tell you that it is vital for a business to have a website. But just like a brick-and-mortar shop front, this digital shopfront of pixels needs to generate sales or it will fail. So how do you build pixel real estate that sells?
We all know times are challenging, but in fairness, it is rare to have decades when times are not tough. The 2007/8/9/10 global economic crisis was followed by the EU, Greece, Portuguese, Cypriot, Russian, Brazilian, Chinese, and Turkey economic crises. And then 2020 coughed up an interesting start to the decade. And that’s why successful business owners and executives are tough nuts to crack. Balancing the toughness with compassion and optimization will leverage your most precious resource ‒ people!
Topics: Human Assets