The Magic Of Exponential Business Growth
Is there a 'magical' way to exponentially grow your business?
It's about the timeless business principle known as "Re-investment".
Look, one of the most exciting times for any new business is the time when effort begins to pay off. Finally, the sales are coming in and you have profit to show for all your hard work. It is very tempting during this time to splurge those profits...
But you've to resist this urge and stop!
You do deserve a reward. You deserve the greatest reward of all: a highly profitable, growing and thriving business with LONG-TERM stability. You deserve to take your business from where it is to where you dream it to be.
Again, one quick and easy way to close that gap between reality and desire is simply by re-investing a potion of your profits back into your business.
It's the same for any business offline, and it'll be the same for any successful business online.
Let's look at why this is so.
Every business requires a minimum budget to get off the ground. Likewise, every business requires an expanded budget in order to grow and increase profitability. Remember that your budget covers more than 'operating expenses' and advertising. It is also there to cover the purchase of new software, fund new projects or your continuing education.
Keeping this in mind, what are some areas you can reinvest in:
* Increased Reach and Exposure
When you begin with a small budget, your advertising options are naturally somewhat limited. Once you have the money to re-invest you can begin testing new channels to deliver your message. This may mean placing an ad in an ezine you couldn't afford to before, or even taking your efforts offline to print and radio advertising.
* Expanded Tactics and Improved Testing
You have the opportunity to try out new approaches. You also have the opportunity to increase your current ad spend in existing campaigns and test the results. This is critical especially in pay per click advertising. For example, your minimum daily budget for a Google Adwords campaign affects the number of times your ad is seen and clicked on. A simple increase in your daily budget may turn a mediocre campaign into a winner.
* Rapid Growth Through Efficiency
There are any number of tools you can invest in to improve how you organize your business, how you manage customer service and even how much tracking of sales and traffic you can accomplish.
Anything which shortens the time you spend on the detail work of your business means more time to focus on the activities which improve your bottom line.
* Improved Products
You must constantly strive to create new products and improve on existing ones in order to remain competitive. Perhaps your first product didn't quite fit your vision? Perhaps your web page could use a tune up? You can re-invest in improved graphics, improved design and other multi-media enhancements. This not only makes your product more attractive, it also increases its value and what you can charge for it.
The principle of business reinvestment is really about profitable growth through momentum and careful planning.
A business is very much like a seedling you want to grow into a tree. It requires air, sunlight, water and food. You tend to it and nurture, even when the immediate benefits aren't obvious.
This is because you know the tree WILL one day bear fruit all year round.
When you tend to your business with the same care, every cent you invest will return to you ten-fold and bear profit for years to come.
If you've been doing this, great...
If not, maybe it's something to think about, starting right now.
Copyright 2004 Ewen Chia
About The Author
Ewen Chia is the CEO of Instant Marketing Secrets Inc, delivering real-time uncensored marketing content to help marketers skyrocket their traffic, sales and profits. Sign up for more profit-pulling marketing letters, tips and strategies instantly here:
http://www.InstantMarketingSecrets.com
More Resources
Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exitingMore Strategic Planning Information:
Related Articles
What is a Shared Vision?
So what makes a vision successful? Everyday companies try to create a vision that will lead them into the future but seldom does that vision ever impact the organization. The reason for this is that the vision is created by a few and never becomes a 'shared vision' of the entire organization.
Insurance Requirements in Franchised Companies
Franchised companies often require what some believe to be excessive insurance requirements. This is because so often if a franchise is sued for any reason that the Lawyers go after the big money of the franchisors and name them in the lawsuit.
How To Kick Start Your Business And Double Your Profits
This will make some people angry as hell, but it's time to debunk the myth of 'Time Management' while sharing the real secret of the super successful.Let's face it, many so called "business gurus" tell us to 'manage time better' or to become 'ruthless with time' if we want to achieve their level of success.
A Backup To The Internet Is Vital & Now Cost Effective
It doesn't take a Terrorist Act, Tsunami or Earthquake to put a business heavily dependent on the internet in the dark and effectively out of business??for hours or even days into weeks.Actually, a misguided backhoe, a lightning bolt, a car accident involving a phone pole or cable box, a flooding rain or an electrical "brown out" can do it in a flash.
Business Ideas: 3 Smart Ways To Generate Profitable Business Ideas Anytime
Creativity is one of the greatest tools for success in business.All businesses are created first by ideas.
5 Strategies That Will Boost Your Business Productivity Today! - Part 1
Building a dynamic small business is a constantly evolving, increasingly demanding role.It is very easy to get so caught up in the day to day running of our business that we neglect to take the time to look from the outside in to see what we could do to improve our profitability!Well here are 5 Strategies that could boost your productivity overnight!They are not rocket science?and you may have even heard some of them before, but they are 5 proven principles that you can review today to help you stay on track regarding the real issues to grow your business from here.
Attributes of Companies You Dont Want to Buy!
There are no "rules of thumb" in the pursuit of companies to
buy. Each purchase opportunity has to stand on its own merits.
TQM Total Quality Management, the book
Every decade we seem to come up with a buzz-word to describe the things we should be doing right all the time. Forever we have heard our parents or grandparents use little phrases to get our attention.
Making a Decision to Outsource: Strategic Constraints
Many companies are reluctant to dive into outsourcing ocean because of various reasons of strategic nature. As far as strategic goals are touched upon, managers are concerned with the following issues:- Risks and dangers of transferring too much managerial power to one partner.
Documenting the Exit Strategy in Your Business Plan
All investors greatly desire and are motivated by a clear picture of a company's exit strategy, or the timing and method through which they can "cash in" on their investment. This picture best comes into focus when the key valuation and liquidity drivers of the company are clearly delineated.
Menu Driven Business Planning
A menu is the foundation of any restaurant; Guests will support or avoid a restaurant for its food. Starting with a preliminary menu is a simple and basic approach to restaurant development.
The Best Entity to Hold Real Estate
Possibly THE most frequently asked question of me is "What is the best business entity to use for real-estate investments?" My recommendation to most people is that a limited liability company (an "LLC") is the best entity for this type of use. Here's why:-- Excellent liability protection for managers and members-- Flow-through tax treatment on LLC profits and losses-- Ability to transfer properties in and out of an LLC with minimal tax consequences-- Personal Asset Protection through the Charging Order procedure (for Nevada LLCs)Liability Protection.
Designing an Efficient Distribution System
Let us look at a few of the big distribution networks in the US that we use today. The US Post Office for instance is a huge complex chain of symbiotic relations ships with vendors to deliver by truck, work with FED EX for air, previously that airmail idea started commercial aviation.
Vision Getting Dim?
A recent conversation started with a typical question, "How's business?"
The reply was equally typical and prefaced by a sigh, "You know (another sigh), same old / same old."Clearly the person responding has "VCD" or "Vision Challenge Disorder.
Online Promotion: 10 Ways To Use Focus Groups To Ignite Your Profits
A focus group is a group of employees or current
customers that discuss and brainstorm new ways
to improve different parts of your business.Below are online promotion secrets to use focus
groups for marketing intelligence.
Corporate Venturing For Emerging Growth Companies
The boom of the dot-com era in 1999 brought the emergence of
corporate venture capital as a major source of funding to the
private equity markets. Corporate venture investments peaked
in the third quarter of 2000 with 608 deals totaling a combined
$4.
How To Get More Business During The Winter Months
Business seems to drop, slow or even stop during the winter months. As tourist traffic slows or stops during the winter months so does the incomes of many local business owners.
Why Create an Annual Plan?
Can you imagine going on a road trip without knowing your destination? Or, building your house without plans? The same can be said about running your business without a plan.They say that "If you don't know where you are going, any road will do.
Elite Positioning Brings Higher Profits
Imagine spending the same amount of money on marketing and
performing the same amount of work to deliver your products
or services, but earning more money and keeping more after
your expenses. That's what happens when you institute
elite positioning for your business.
Why 9 in 10 Businesses are Overspending on Day-to-day Expenses
Experts estimate that 90 percent of Australian businesses are overspending on day-to-day expenses, by as much as 75 percent in some cost categories!Looked at the operating costs of your business lately? You might be surprised at the savings that can be gained with a systematic approach to cutting costs.The easiest way to lift profits is to cut the fat out of costs.