It was announced today that the Super Committee appointed by both houses of congress and both political parties have failed to cut $1.2 trillion dollars in debt from our budget over 10 years. That’s just $120 billion per year that they had to cut and they could not do it. Pathetic!
Can we rely on our national leaders to get us out of the brink of economic meltdown as the Federal government piles trillions of dollars of debt on top of trillions of dollars of debt? Nope. Apparently they are too busy doing nothing to actually get the job done. So take matters into your own hands – grow your business and cut costs, that that you can do your part to help cut the national debt. Here are 5 simple tips to grow the earnings of your business.
Tip #1: Use Internet marketing. It is the lowest cost and highest ROI form of marketing and you can literally track your ROI to the penny. In other words, you can tell if I put $1.00 in I get $10 in return. Partner with an industry leading internet marketing firm.
Tip #2: Hire top performers. The economy stinks. That means that top talent very well may be underpaid or stuck in a bad compay. Now is the time to implement the hiring techniques of Who and get top talent into your company to help take it to the next level.
Tip #3: Cut Wasteful Spending. Merchants across the nation pay too much for merchant services processing, partner with a good merchant services company that gives you a low 1.05% rate and free merchant equipment. It could save your company up to 40% per year in credit and debit card processing costs.
Tip #4: Farm Existing Accounts. Your existing customers are your easiest customers to grow revenue with. Make sure you have additional quality products and services to offer your customers. If you don’t have them now, develop them. Once you have them put together an aggressive plan to farm your clients and grow them into bigger clients. Selling happy existing clients on something else of additional value is the easiest sale you will ever make.
Tip #5: Put a Client Retention Plan Into Place. Build a bonus plan for your people that will reward them for improving client retention, as retention improves your growth will accelerate and so will your profitability.
