(Guidance to Wealth) Mastering the 5 Core Principles of Business Growth - Raj Kapur

Raj Kapur - "Guidance to Wealth" 

Mastering the 5 Core Principles of Business Growth

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Mastering the 5 Core Principles of Business Growth

So what are the 5 Core principles of Business Growth and if you master those you know you are running a well-sustained business? 

 

1. Get Clarity – Are you clear on your business goals, mission, and vision. 

Clarity is a must as your employees, your staff, and those who come on board need that. See without Vision everything including business growth can get stunted. 

So what is your vision for your business - vision, for now, 3 years, 5 years, and 10 years.

1. Low-Hanging fruits -  What are the Immediate sources of income? What can be converted to immediate revenue? Many business owners forget to see what could be done to increase the business by going after the Low-Hanging Fruits. 
2. Customer Acquisition and related costs - Do you know what it costs to acquire a new customer for your business? Many times you need to invest money by advertising, referrals, commissions to acquire a new customer.  If you don't know, you will need to calculate what it costs to acquire a new customer.  After that, are you aware of the Lifetime Value of your customer? Lifetime Value of a Customer – How many times you believe in the next few years, let us say 5 or more years would this customer come and what is the average he/she would spend.
3. Budgeting - Do you use a budget? Your budget needs to work for you, and that can only happen if it is highly customized. This is a part of creating the blueprint for your financial life. While most people know they should have a budget, and many have tried, it’s something that few people do long term.  

Why not? Because most people set a budget that they think they should live by and not the budget that works for them. Most budgets are designed to restrain you and are quickly broken and then abandoned.

How a budget can help:
•    It helps reveal wasteful spending
•    It can reduce stress
•    It helps control spending
•    It is essential to your wealth blueprint 

If you can measure you can improve  – Peter Drucker

1. Repeat Customers 

Why do you lose Customers?
A typical business does a great job of getting the attention of the customer and persuading them to buy but does very little to create a remarkable experience after the sale.

It is the EMOTIONAL JOURNEY OF THE customer that is most often ignored.

customer retention rates will yield a 25 to 100% increase in profits. 

BENEFITS OF KEEPING YOUR CUSTOMERS

• More efficient, more effective more profitable
• Morale Improves
• Selling to an existing satisfied customer is 60-70%
• The lifetime value of a loyal customer can be 10 times greater than the first purchase.

ABOUT RAJ
Coach | Mentor | Speaker | Non-Profit Expert | Published Author | Radio Show Host 

As an Executive/Leadership Coach Raj believes in building World Class “Super Leaders,” One Executive at a time.

Raj is the founder and CEO of Options Ahead, Inc. With his program Guidance to Wealth he helps individuals live their dream life by resolving their financial stress without needing to make more money.

Raj is an Award-winning, C-suite leader and certified executive and leadership coach who has built, developed, and led large, globally competitive teams, provided transformational coaching to maximize productivity, improve staff morale, and inculcate powerful leadership skills — experience in for-profit and non-profit sectors. He leveraged leadership skills to transform struggling companies.

With over 30+ years’ experience and leadership wisdom backed by a toolkit of the world’s best leadership resources and cutting-edge techniques and ideas, Raj has leveraged proven leadership methods to develop super leaders that transformed not only themselves and their teams but also the entire organization at various levels.

Raj has led extensive workshops, seminars, coaching sessions, mastermind sessions, keynote engagements, and group and one-on-one coaching sessions. He has coached thousands of individuals during his career, created powerful instructional programs and courses. He has developed financial leadership programs, introduced leadership training, and Mastermind sessions at various organizations designed, developed, and led workshops on leadership, communication, and productivity across the country.

His corporate experience includes a background in managing budgets exceeding tens of millions of dollars, turning around companies, maximizing profits, and catapulting business success while working with CEO/board of directors.

Raj Kapur is an Executive Director with The John Maxwell Company. He is a Certified Coach, Teacher, Trainer, and Speaker, a certified DISC Trainer, and a published author.

Written by: Raj Kapur
www.RajKapur.com
https://www.facebook.com/groups/millionairepath
http://www.nonprofitedge.org/

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