Tuesday, 1 December 2015

Win More Customers To Sustain Your Business

Win More Customers To Sustain Your Business

If you ate into a business of offering a service, you have to determine how many clients you'll need in
order to reach your goals. You don't have to have a group of ready-made clients when you begin, but it helps if you have a good network of people
who you can approach, asking them to become clients.

Start by making a list of your current clients, including clients to whom you give free services. From this list, estimate how many would be
willing to pay for your product or service (versus getting it for free). Consider how many of these
people can afford to pay, if that is an issue among your client base. Also, ask yourself if any of your current clients are old clients, meaning they have hired you more than once in
the past year or two.

Next, think "networking." How many people do you know who you can call, to tell them about your business, even if they have never bought your services or products before? Include them in the list of the following people: family, friends, business colleagues, members of your neighborhood or
community, and people you purchase products
and services from.

Let's say this list totals 40
people. Imagine if you tell 40 people about your services and products. Take a look at all your living
expenses and decide if your business is supposed to completely support your financial needs, or if
you will get another job to support you in addition to your business.

Determine your fees and do the
math to figure out how many sessions you have to do per year (or how many products you have to sell) to make your living expenses.

For example, say that you are a Bass guitar Teacher, and need a total income of #400,000 per year. If you are going to charge
#500 per hour, you'll need to do about 833 hours per year. This is equivalent to 69 hours per
month, or 17 hours per week, or 3-4 hours per day (using a 5-day work week). If you don't want to use up to that hours per day, you will either need to increase your prices, or lower your expectations of total revenue. And, you can get customers from schools,churches clubs etc
You can do this same math if you sell products. So let's say you need 833 hours per year to live
comfortably. Does that mean you have to find 833 individual clients? No, not really. Depending on your profession, you will have a certain
number of repeat clients who may come to you once a week, once a month, or once every six
months. If you have really good marketing, you can increase this number of repeat clients
by mailing and phone calls. Remember, it's cheaper to market to existing clients than to new,
prospective clients.

Take the time to do the math. Figure out how much work you have to do in order to live the life you want. Think Positive.

Hope Uchemadu

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