have you ever dreamed of strategies to get rich? Now everyone can achieve itbut not everyone can stay that way, have a stroke of luck to make a lot of money and sales It is possible, the real challenge lies in generating sustainable sales and profits over time.
5 strategies to get rich
To get them, I recommend following these five strategies:
1. Cash flow
It is having money available to keep the business running, since there may be businesses that are profitable, that is, if you subtract sales minus costs minus expenses, it gives you an interesting profit, but sometimes they run out of cash flow to be able to operate and without money available there is no possibility of advancing.
The formula that will allow you to continue operating is: subtract your inputs (products or services you sell) minus your cash outflows (costs and expenses you pay) to obtain operating cash flow. A great piece of advice is to monitor this figure frequently, it is best to do it every day, because if you stop doing it you can fall into the mistake of believing that everything is progressing and finally run out of cash.
2. Extreme customer follow-up
I mean channeling your efforts to convert a prospect into a client and by this I mean forming a funnel, where the first step is to segment the market then offer valuable information that will bring interested clients closer to convert them into clients and then recurring customers.
In order for you to keep them interested in your product or service, it is necessary to follow up intelligently, according to various statistics, 80% of sales closing is generated after the fifth contact, and only 10% reach that stage, so If you don’t follow up properly, you’ll be leaving a lot of money on the table.
3. Product and service availability
When the economy and the environment become more challenging, it is necessary to simplify the expenses that allow you to keep your business supplied with the products or services that you offer, so you must maintain a minimum of backup inventory, the volume will be the time that It takes your supplier to deliver the inventory, for example, if you order a product from your supplier and it takes a week to deliver, you must have that week of backup in your inventory to prevent monetary losses.
If you offer a service instead of a product, it is necessary to keep a calendar that allows you to visualize the dates that you have available to serve your clients and in this way do not make the mistake of occupying the same date with different clients and in the end having a bad administration that ends with your plans.
4. Look for a class A team
If the budget is what stops you from hiring, but you need help, take into account that the person you choose does not necessarily have to know everything that you require them to do, but they must have the desire to want to grow with your company, to continually improve and be in love with the company’s reason for existing, in addition to numerical skills, order, discipline, among others. Many times, what the person is like is more important than the actual activities that they will carry out, therefore, it is necessary that you carefully analyze what your business needs to train your team and thus enhance the results of your business.
5. Two minds
The business owner or managerial leader must have two visions, two minds, one to visualize the present (execution) and another to see the future (create what you need to grow). Coordinate in the present through your control board and in the future with your strategic and financial plan, that will allow you to make it sustainable.
If you put these strategies into practice, you will be assured of sustainable earnings and don’t worry about what may happen in four years or more, it is enough that you have a strategic plan for the following year.
