Four Keys to Your Revenue

You want more revenues right? Every business owner does. But do you know all the things that create your revenue?

Don’t answer too quickly.

There are four different sets of activities that produce your revenue. If you don’t know what they are, it’s kind of difficult to control them, isn’t it? So, let’s look at what they are.

The first thing to recognize is that you have essentially two kinds of prospects: new prospects and past/existing clients who may buy again. Bringing new leads to your business usually involves different tactics than those used to entice past or existing customers to buy again.

So, the first two sets of activities are:

Now, do leads pay the bills? No. They haven’t yet agreed to pay for anything.

Which means, you need to help them decide to buy from you. So this leads to the next set of activities:

We still don’t have a revenue total, though, do we? There is one more thing we need to know to determine our revenues and there is a set of strategies that drive that:

Do you right now have different activities strategically chosen to drive each of those drivers of your revenue? If you don’t, you’re missing out on some potential revenue.

Finally, if you’re not tracking how you’re doing in each of these areas, it is almost possible to know how well they’re performing for you. Sure, you will know you’re total revenue by looking at your Income Statement. But you won’t know which activities are driving those results and which are a waste of your time and money.

To control your growth, then, you must strategically determine and then consistently measure your activities in each of the four areas discussed.

Try it. You might just like it.