If God gave you a wish, what would you ask for? Well my one wish would be “make all my wishes come true”. That’s how businesses should think.
If you only had $1,000 available to spend, what would you spend it on? Dream gizmos, beautiful dresses… what else? Or would $1,000 fall short for something that you want to buy? The point is even the tightest budget is never a problem if it helps you make more money. Those only $1000 available to you can be re-invested into something that will multiply your ROI.
$1,000 > reinvest > $10,000.
It’s that simple. Stop doing business if that doesn’t make sense.
Businesses grow by multiplying the available assets. They are able to multiply funds, assets and the very business itself. So when it comes to you, what would be the best investment for your business? Let me qualify the word “business” a little — I’m referring to online-business.
Here are 5 things you could do today to put your business on steroids.
Enough in-home SEO. Hire a PRO
Why invest in a $100/monthly SEO plan when you have all the time in the world to let your in-home SEO screw it up and send you regular progress reports?
A proper SEO firm is the best investment you can make today to leapfrog your business. Your global customer-base is online. Hire a pro who can make you visible to them. Until then your competitors will sell night and day and drive your business to slow-death. Get that competitive advantage.
Get rid of that fugly, complex site
You think your site looks awesome and does a great job at eCommerce.
Ever cared to take a professional opinion?
Hire someone and have them show you the mirror. Your website is your sales funnel. It’s not just supposed to sit there and function, it’s a part of an active sales pitch and process.
How fast does it load? Where’s the bottleneck? Caching? Is it mobile-responsive? Can you kill those 25 pop-ups and enhance user-engagement? What about bounce-rate? Which pages are working the best and from which pages do the customers leave your site? What’s the conversion rate of your ad/marketing campaigns? Think you got it all figured it out?
That free WordPress website and the “paid” theme you bought are not necessarily the best for your business. Hire a pro to set it up. Decide to spend $1,000 for making $10,000.
Acquire another business
Perhaps one of the best business decision you can make. There are obvious and general risks involved. But that said, acquisition can help you multiply your revenues in the shortest period of time.
What’s a good business to invest in?
Any business doing great won’t be acquired for cheap. Any business that’s not doing great is where you should look. A business that may not be able to generate great revenue but is able to more than sustain itself is a great investment. The acquisition won’t start with a loss and you can count on your business skills to make it a money minting machine. At this point, I would like to share an interesting sales video by Grant Cardone.
Wake up your past customers
Where are your past customers? Your past customers are the best business evangelists.
Engage with them.
Get testimonials… share your success stories with them.
Without being too pushy, keep in touch and periodically check to see if they need anything from you. Ask for referrals. Greet them on occasions and have them as a part of your social network. Congrats, you’ve just built your fan-base!
Stop procrastinating. Hire a content writer
Those post-titles you drafted 8 months back are not going to see the light of the day. Learn to live with this fact.
Content writers give your business a “voice” and help your business communicate with your potential customers.
You can’t count on your sales-team to answer every query. Let the information circulate without repetitive work. Also there’s no content marketing or SMM without great content. Hire a great copywriter and focus on what you do best.
If you are a small business or an entrepreneur whose business is mainly internet driven, these are the 5 best investments you could make with minimal risk and a direct and positive impact on your revenues.
Like money? Do it!