Here are 8 more ways to get repeat business! Because it's easier and cheaper to market to your existing clients then it is to get new clients.
Your existing customers are your most valuable asset. This is because it’s easier and far less expensive to get an existing customer to buy off you again than to find new customers.
In a nutshell, all businesses exist to solve problems. Why people engage with a business is because the business owner can achieve the desired result faster than the customer could achieve it themselves.
Its amazing how many times I’ve sat down with somebody and I ask, why did you go into business? And all I get are blank stares and no clear-cut responses. It’s rare that I get an answer with such conviction that it shows me why they started their business. Some of the more common responses I get are:
Whether you have your structure or not, the next thing to do is sit down with your accountant and solicitor to get advice on what to do next.
Almost one-third of small business owners report having high levels of psychological distress, Beyond Blue has revealed in a new guide targeting the mental well-being of small business owners.
Assistant Treasurer Michael Sukkar has called on the ATO to show more gratitude towards accountants who do a lot of heavy lifting on behalf of their clients.
They both work with financial data; they’re both essential for managing a successful business. Yet the roles and duties of a bookkeeper and accountant rarely overlap.
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you have unused assets in the business (machinery that’s not used very often, buildings or excess stock you could quit), then weigh up the advantages of selling these first.
We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies.