How to increase revenue:
Your revenue is the most important part of you business. You hire, buy more, expand and have a broader reach when your revenue is strong. Here are some ways to get you moving in the right direction:
- Start by expanding your market. Is there a way to service those not in your local community and expand your reach?
- Customer service. It may seem so easy, but offering customers a complimentary product to your service goes a long way to bring in new clients and keep your base.
- Adjust your prices to meet the current market.
- Offer bundle options so customers feel like they are getting a deal.
- Offer discounts and special offers.
- Market your service, not just want you are offering discounts, but at opportune times.
- If you have a sales force, incentivize them to perform!
- Accept credit cards - which is easy and convenient for the customer and business owner.
- Offer yearly contracts at a discount and month to month at a higher rate.
Why do I need a CFO?
You didn't start your business or become the head of an organization because you are a financial expert. You are there to grow and succeed. The accounting, bookkeeping and financial aspects of your business are important to how you run your company, but it is time consuming and if not done properly, can lead to more headaches down the road.
Keeping track of your bookkeeping and your financial statements is time consuming and difficult to manage. But most frustrating is understanding and interpreting your financial picture from reports. CFOs are responsible for timely and accurate presentations and financial reports in order to capitalize on your growth.