3 radical business ideas to turn your small business around [Video included] | Willem Gous

3 radical business ideas to turn your small business around [Video included]

Sometimes we need to get new business in and fast. It is not always possible using our usual strategy and that then calls for some new radical approaches. I will discuss 3 radical approaches today that you can go and apply today in your business. Radical business ideas #1 To get more business you need more customers. Getting new customers is a slow process and will not work if you need money fast. So the best way to get customers is to get access to someone else’s customers. Reach out to customers or even distributors and ask them if they are willing to sell your products or services to their customers for a healthy commission. If they are uncomfortable with it then find a way of maybe white labeling your service so that it looks like “their” service or product. I use this strategy often as a speaker and trainer because a trainer only addresses one section of needs in their customer base, I can help them provide a fuller service to their customers this way. Radical business ideas #2 If you have a high frequency of interaction/billing with your customer base then you can try to increase the average transaction value per customer. I suggest NOT doing a major product development due to the risk and the time involved. Rather make use of other people’s products and services that you then sell to your customer base. This means almost no risk to you. You may do not have to keep stock or even pay for stock of these new offerings. You do not have to maintain the resources if it is a service. Win-win. Simply engage with customers, understand their needs (do not ask what they want though) and then find the needed products and services to help and then sell it to them. Radical business ideas #3 Find ways to increase the purchasing frequency of your customers. As a consultant and business coach, I might suggest that I facilitate a monthly meeting where we review the coming month’s targets and the challenges holding us back from reaching it. Where can you have a more regular billing interaction with your customer base? You don’t have to apply all three, just one of two of the radical business ideas will be enough.

I was fortunate to have grown up in an entrepreneurial home.
But I have a lot of coaching and mentoring experience helping employees navigate
to be business owners using my Life Design for Business Owners process.

Start thinking about your business as you would at your
career. When people look at a career, they ask questions such as:

  1. Is this what I want to do?
  2. Do I know of this?
  3. Where will this take me?
  4. Will it give me what I need mentally and spiritually?
  5. Will it give me the financial security and
    income I need now and going forward?

Do the same with your business because you have to realise,
entrepreneurship is a massive con sold to people under the disguise of freedom,
control and financial wealth. Look at business owners, and you see it rarely
delivers on that. I am only designed to look after the needs of customers.

Doing the exercise mentioned above will help you see your
business as something that serves you. You are a customer too. Your business
was created by you to serve you. If it doesn’t, then why start it?

What if your business idea cannot cater to your needs too?

Do the following:

  1. Kill the idea and find another one.
  2. Innovate it so that it can deliver.
  3. Do it, but work to have another business on top
    of this, and you build multiple businesses that collectively serve your needs.

Remember, you can build a career to suit your needs; you can
also build a business to suit your needs.

 

Have you ever looked at your business as a collection of conversations?

Some conversations you are having well, others not so well, while some not at all. The ones you are NOT having well can be costing you a lot of money.

Knowing which conversations to improve can help you unlock profits within your business in the fastest, most efficient way with the least risk.

Get your FREE Tool to unlock new opportunities and profits within your business.

Willem Gous

7 Mar, 2018

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Have you ever looked at your business as a collection of conversations?

Some conversations you are having well, others not so well, while some not at all. The ones you are NOT having well can be costing you a lot of money.

Knowing which conversations to improve can help you unlock profits within your business in the fastest, most efficient way with the least risk.

Get your FREE Tool to unlock new opportunities and profits within your business.

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