Have you ever put on a jacket you haven’t worn in a while and found a twenty-dollar bill in one of the pockets? You’d forgotten all about it, so discovering it is like getting a gift. If you’ve been in business for a year or longer, you may have gifts in forgotten pockets sources of additional revenue waiting to be discovered and tapped.
There are four ways to increase your net profits: reduce costs, increase prices, attract more clients or sell more to existing clients. When you consider that it costs you at least 60% and as much as 600% more to sell to a new client than to an existing one, it’s clear that your best prospects are existing clients.
Are you selling as many of your services or products as you could to your existing client base? Could you increase your revenue by doing a better job of marketing to your existing clients?
