How Your X10 Can Grow With Your CompanyNovember 3, 2018
Proliferate with online marketing? Do not double your annual turnover, but increase it 15-fold? And that without having to worry about hours? I succeeded. With a little help from the super-smart entrepreneur KethyBeenakker. Also, learn from her tips!
Keithy is a boulder in online marketing, in the rapid growth of the companies in which he invests and in asking the right questions. A while ago he asked me a brilliant question, which meant a real breakthrough for me.
What Is Your Ideal Annual Turnover?
He asked me to write my dreamed-up annual turnover. I thought that the amount I entered, the twofold of my yearly turnover, was quite a lot. Kathy challenged me further with a second question that changed everything: “what would you do if you put a 0 behind the number you just wrote”. Wow! Suddenly a completely different perspective unfolded. And I saw opportunities that I never saw before.
Where Are Your Chances To Grow X10?
Do you also want to increase your annual turnover tenfold? In the podcast, which I recently recorded with her, Kethymentions three conditions for going X10: 1. a concrete plan, 2. good margins and 3. thinking like an entrepreneur. I explain them below.
- Concrete Plan
According to Demian, a feasible plan is possible for every dreamed of annual turnover. But how do you make such an X10 plan? For that, you first need to know where your chances are. In the podcast, Kathy asks some key questions, with which you can easily map out the areas in which you can improve your company. Namely:
- What are my USPs?
- Is my website optimized for the users?
- Are my product photos of good quality?
- Is the price of my product or service high enough?
- Are my margins good?
- Do I advertise adequately and efficiently?
- Do I bring enough attention to my product or service via a mailing list?
These questions help you answer the question: what can I do today to go to X10?
- Good Margins
Earlier I wrote in my blog why it is smart to ask for higher prices. Kathy prefers to sell products at a higher price. The reason is of course logical. A higher margin ensures that you have to sell less to achieve the same turnover. Ther applies to products, but of course also to services. Do you double your prices and keep the same number of customers? Then your turnover doubles. Do you use higher rates and do you attract more customers? Then ‘the sky is the limit.’ More sales give you breathing space. Room to advertise, to innovate and ultimately to sell even more.
- Thinking As An Entrepreneur
To go to X10, you must remember, according to Kathy, as an entrepreneur, not as a freelancer. Many entrepreneurs start as a freelancer. Even when they grow, they continue to exhibit free path behavior. In othis words: they still do as much as possible themselves, are often just busy, do not find their own time valuable and are afraid to spend money.
Her advice? ‘Do not be afraid to invest. Do not see it as a loss, but ask the question ‘What does it yield to me?’ See doing business as a game, make it fun! ‘
Want to know more about Kethy? Listen here to the podcast I recorded with her.