The 3 R’s for Business Growth

Business-Growth


In the early 20th century schools taught the three R’s – reading, ‘riting and ‘rithmetic. Today, businesses have its 3-R for business growth, Relationships, Referrals and Revenue, for without this 3 R’s today’s businesses will not achieve growth and current goals.

Relationship

With the Internet providing immediate access to unlimited products,  vendors and services, today’s business owners must develop continuous and loyal relationships with their clients. Building strong relationships with existing clients can set you up for a repeat business. Sounds awesome right? And what makes it more exciting is that they may recommend you to their colleagues. Isn’t it wonderful?

The success of a B2B company depends largely on strong client relationships, especially for a small or start-up company. You must be patient in building new relationships. This may sound cliche but it’s true, building a relationship takes time. Take the time to get to know your client, and share a little bit about yourself as well. Keep in mind that your work for your client is paramount in building a relationship. No amount of personal connection can substitute for great work. ?

Referrals

As mentioned above, if you have a strong relationship with your existing client they may also recommend or refer you to their colleagues. According to a recent research, 84% of consumers say they either completely or somewhat trust recommendations from family, colleagues, and friends about products. We can clearly see that this research supports what our common sense tells us about human nature. We are more likely to believe a family member, colleagues or a close friend if they tell us that this certain product really works, right?

Referrals surely add value to the bottom line by reducing marketing dollars. You can’t “pay” for referrals. Referrals are given free much like a friendly smile, a nice talk or a sincere handshake.

But for you to be able to get this you must be referable. Yes! You should be referable. Make sure that you deliver what you promise, when you promise. Your clients should be able to speak to the kind of value you provide. Relationship and Referrals make the next R for business growth which is Revenue.

Revenue

The last and final R for business growth is REVENUE, for Without this final third “R,” companies would not be in business. Do you agree??

Revenue is the ultimate desired end result. Both the company and employees transition beyond surviving and transform into a thriving, results driven team when the revenue grows.

Successful businesses,companies and individuals actively work the 3-R’s every day regardless of what they’ve already achieved! Complacency is not an acceptable attitude!

If your goal is to reach that next level of success, then maybe the first step you should do  is to ask yourself if you know your 3-R’s?

The second step will be constructing a plan to help you boost your 3 R’s.

Are you looking at improving your 3 R’s or maybe you aren’t sure yet where to start?

Now is the time to take that NEXT STEP in your business journey.