One of the fastest ways to increase your revenues, with profits of a hundred percent (or close), is also one of the easiest wins for your business.
Today, I’ll show you how I do this for my clients, based on 2 of my most recent examples.
An independent bookshop
My wife and I are passionate advocates of independent bookshops. These bookshops already offer a number of additional services, particularly events, such as author talks and book signings, etc.
They also have a 100% profit opportunity… that none of them take. They speak all day every day to people who still buy physical books. As you know, physical books need physical storage. Yes, bookshelves. In bookshops, I regularly hear fellow customers quip about how they’re running out of storage. Hold that image. Because it’s where I got my idea for this bookshop owner.
I suggested that the bookshop owner partnered with a trusted craftsperson who builds and fits bookcases. I then said that whenever she hears a customer quipping about a lack of shelf space, the customer is offered a helpful flyer, with details of the trusted craftsperson who will fit exactly what they need.
It’s a win, win, win.
- The customer gains extra space with their beautifully fitted bookcase.
- The bookshop owner has delighted a customer and received a referral fee.
- The craftsperson gains a new customer.
How often does that happen? Often enough for it to become a highly valuable income stream for the bookshop. An income stream that’s almost zero-effort and 100% profit.
A small, window cleaning company
I also helped the owner of a small window cleaning company. I asked him what additional products or services he provided to his customers. He said he didn’t provide any. Just window cleaning.
I recommended he partner with a trusted window replacement company. My idea was simple. When his window cleaners notice a damaged window or window surround, they simply mention it to the customer and offer them the business card of the trusted window company.
It’s another win, win, win.
- The homeowner gets the repair done before it becomes a bigger issue, as the window cleaner can see the exterior of the homeowner’s windows close-up and spot issues earlier.
- The window cleaning company has delighted a customer and receives a referral fee when the work is carried out.
- The window replacement company gets a new customer.
How often does that happen? The same as in the previous example. Often enough for it to become a highly valuable income stream for the window cleaning company. An income stream that’s almost zero-effort and 100% profit.
Finally
As you’ll have noticed, a massive benefit of this approach is that it scales beautifully. It requires few if any resources. It also works for everyone concerned. In fact, it has to work for everyone, or it won’t work for anyone.
Isn’t that wonderful… everyone’s happy. What a fantastic way to grow your business.
IMPORTANT: If you want to make more sales, boost your profits and grow an amazing business, this will help you!