8 Techniques how to multiply opportunities as a startup business [Video]

1Generate Leads

Lead generation is the process you use to attract prospects. By focusing on lead generation, you can convert your prospects into sales. You’ll need an efficient and striking funnel to attract customers to your business.

2 Convert Leads

The next step is to convert your prospects into paying customers in the goal of multiplying your sales. Again, monitor the success rate of your funnels and other means of lead generation. The more people you convert to customers, the more you will multiply your revenue. Look at the conversion rate of prospects to clients. If you get 7/10 prospects to pay you for your product, you’re sure to have an excellent conversion rate.

3 Encourage a Bigger Size of Transaction

Encourage your customers to buy more per transaction. Once you’ve multiplied your transaction, you should allow your customers to purchase a larger amount of items or services per transaction. In doing so, you’ll effectively utilize each transaction to multiply your sales.

4 Utilize Profit Margin Per Sale

When it comes to your business, your profit margin is the gross profit from each of your products or services. You cannot keep your prices static. You must increase or decrease your prices effectively to encourage your customers to buy your product. When you follow the profit margin of your sales, you can increase your client engagement, especially when they receive great deals from you.

5 Decrease and Optimize Customer Acquisition

You must continually optimize your strategies of acquiring customers to the point that you don’t have to spend much to increase your sales. By improving your advertising, marketing, and promotion, you’ll be paying less to attract customers.

6 Remove Wasteful and Costly Services

If you’re spending more money than you need to, then you’re already wasting money. If there’s an aspect of your business you can’t optimize further, you should eliminate it before it costs you plenty. Increase your sales by putting your money where it needs to be.

7 Reduce Your Point of Breaking-Even

If you’re able to reach your break-even point in one month, try reaching it a lot sooner. When you decrease the amount of time it takes for your company to break-even, you create more room and more time to increase your profit.

8 Increase Your Prices

Lastly, raise your prices especially if your business is becoming more successful. If you customers are happy and they continuously bring more referrals, you can start increasing your prices for a more premium feel for your services. Once your product is well-known, you can charge more for every product or service bought!