Growth is a pre-requisite for business success. In today’s rapidly changing business environment, most companies need to grow just to stay in place. They need to expand market share, seek out related and new market opportunities, and constantly pursue new customers just to stay even over the long haul.
To grow successfully, businesses need to build upon their success with current customer and grow outward from there. As such, the five steps to business growth are:
1. Satisfy Your Current Customers: As discussed in 8 Steps to Satisfy Your Current Customers and Re-Charge Growth, the first step for business growth is to exceed the expectations of current customers. This reduces your customer turnover (churn), which means that you no longer have to find new customers just to replace current customers that have stopped buying from you due to poor service. Further, satisfying your current customers allows you to increase your share of wallet with them.
To read the full, original article click on this link: How to Grow Your Business in Five Steps | David Shedd's Blog
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