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Company Growth Based on Three Obvious Factors

By Eugene Peterson

No matter what economic conditions you perceive this country is in, good, bad, up or down, the fact remains that there are still many successful and profitable companies that continue to grow and prosper. I know this to be fact for I have first-hand knowledge as I work with them on a daily basis. Look around and you, too, will see them. What are the secrets that these successful companies know that helps them grow their business? They are easily summarized into three key elements or principles. And when business strategies are created around all three of them, companies grow.
They are:
• Increase number of customers.
• Quicker turn on service or product.
• Increase transaction value. To increase market share and customer base, focus on marketing. If you don’t have a marketing plan, GET ONE. Create strategies that are simple, ones that build relationships that bring in new customers and generate more business from older ones. Next, a quicker turn on your service or product generates added revenue. Create strategies that help you provide a work product with quickness and efficiency that beats the competition. There are literally hundreds of success stories based solely upon this principle, Southwest Airlines being one that I reported on in an earlier column.