This Is the #1 Formula to Increase Revenue for Your Business
Author:John Assaraf |2020
Having your own business can be the royal road to financial freedom.
However, building a business is like learning how to solve the 3x3 Rubik's cube, you first have to practice with the puzzle to figure out what works and what doesn’t.
But there's a formula to help you to be successful in business. And no matter what industry you’re in, business is a science. Do you want to learn the scientific formula behind business success? (It involves a little help from your Facebook friends.)
Here are some small business marketing tips to help launch you to the next level. First, watch this video to learn how to 3x your business revenue this year . . .
First things first, as an entrepreneur your job isn’t to sell houses, coaching hours, products, or marketing tools; your job is to solve people's problems, frustrations, and fears. You must be willing to help them achieve what they want or need . . . only then can you accumulate wealth for your product or service.
Once you get into the mindset of helping others, you’ll notice a big difference when it comes to your business's traffic and conversion rates.
Traffic is the number of people that visit your website, click to view your landing pages, call your company looking for direction . . . and so on. When you have a steady flow of traffic, you can begin a dialogue with people to see if what you have to offer is right for them.
Basically, traffic is any type of inflow of prospects. And once you have the prospects, your ability to convert them to paying customers is equally important because, as you may already know, traffic times conversion equals revenue. Write that down. This is the first part of the formula for business success.
Traffic x Conversion = Revenue
Where do you find traffic? How do you get in front of people whom you can develop a relationship with? On Facebook!
Facebook has over a billion users from all walks of life. It's an incredible tool for finding your audience. Facebook is a great platform to build a rapport with people who may be interested in your product or service. And you can do it for as little as a dollar a day!
Ready to increase revenue for your business? Here's part two of the formula.
Repeat business + Referrals = Exponential Revenue
So the complete formula is: Traffic x Conversion = Revenue. Plus . . . Repeat business + Referrals = Exponential Revenue.
Remember, your position as a business owner is not to sell anybody anything. Your business is to help solve problems, pain, and fears . . . and help people with their aspirations, wants, and needs.
And in order to convert leads into customers and/or clients, you have to build and establish trust with your audience. When people trust you, they'll keep coming back for more (repeat business) and they'll refer you to other people (referrals). Makes sense, right?
Revenue is the lifeblood of every business. You can give people amazing products and services and get them to repeat buy your next product, your next service . . . and refer people to you. That's how you grow your business.
Do you have questions about this formula? Want further insight on how to grow your business? Are you ready to start winning the game of money?
Sign up for our business consulting program with John Assaraf and learn how to release your limiting beliefs and disempowering thoughts, emotions, and habits so you can focus on your business strategies and tactics. Click the button below to learn more.
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About The Author
John Assaraf is one of the leading mindset and behavioral experts in the world, with a unique ability to help people release mental and emotional blocks that keep them from achieving their life’s biggest goals and dreams.
He's written 2 New York Times Bestselling books, appeared on Larry King, and was featured in 8 movies, including "Quest For Success" with Richard Branson and the Dalai Lama.
Now, he is the CEO of NeuroGym, a company dedicated to using the most advanced neuroscience-based training to help individuals and maximize their fullest potential.