“Eventually, strategy must degenerate into work” - Peter Drucker
Now that we have gone through the Seven Keys in more detail, hopefully you can see that there is a great deal of overlap between them.
For example, a niche marketing strategy will help you to understand your target market better, which is great for attracting enquiries and also useful during the conversion process.
Likewise, some of the strategies you use to increase the value of each transaction will also have a positive impact on profit margins. Increasing transaction frequency may also increase customer retention, as customers get into the habit of doing business with you.
This is the power of The Seven Keys Formula: the improvements you make and the strategies you employ work together to create a virtuous cycle of business growth.
Therefore you must resist the temptation to choose just one or two Keys that you feel comfortable with, or to work on just a few of the strategies that I have discussed. Instead, come up with as many ideas as you can to improve all seven Keys.
Don't forget that ambitious growth needs to be underpinned by a support structure. Just like a building, a business needs solid foundations to support it; so it may be that you need to begin by systemising your business and developing the capacity for growth.
What would it mean for you?
If you could achieve growth of between 50 and 75% in your business over the next year, how would it impact on your organisation?
Would it result in more profits and more cash in the bank? Perhaps pay off the overdraft, or those bank loans that you have personally guaranteed?
How would your business change if you were able to make your operations more efficient and effective: if you could get more productivity out of the day, or indeed, the same output from working less hours?
Would your staff be happier if things were less stressed? Wouldn’t you like to spend less time fighting fires and more time serving customers? Or finding new customers? Isn’t that why you went into business in the first place?
How would it improve your life, if you were able to pay yourself more, or take a holiday! Like my client who took her first proper holiday in nearly three years this summer. And you know what? The practice was still there when she got back!
You’ve taken the time to read this book and now you can see how these simple strategies that I’ve been discussing can work in your business. The fact that you have read this far demonstrates that you are committed to making your business a success.
So maybe you’ll take these ideas and implement them in your business to great effect. You will use the Lead Generation Engine to boost enquiries and to convert more of these enquiries into customers.
Or perhaps you’ve come to the realisation that you want more. You want ideas for how to get clients to spend more with you, and you want to increase the value and saleability of your business by improving customer retention.
I can offer you the solution with my online course: The Seven Keys Formula. This training course will give you proven business growth strategies — just like those that successful companies are using every day — along with the tools to apply them to your own business.