A Few Ways to Grow Your PAT Testing Business
This information is about growing your business - We recommend reading our article about running a PAT Testing Business first!
I will write more on this on another occasion, but consider this simple thought for a moment.
- Suppose you have a good marketing system which enables you to get 50 new customers in a year.
- In the first year, you work for those first 50 customers.
- You do a great job, and you manage to get 80% of those customers in the following year.
- That means, in year two, you get 50 new customers and test 40 from last year, and you now have 90 customers! That's an increase of 80%. It won't be long before you have a decent sized business.
This is the kind of growth that many businesses can only dream of. Even if we factor in the effects of the recession, the numbers still look good.
Let's assume that, in the current climate, you only keep 60% of your existing customers (instead of 80%) and you only manage to get half of the new ones (25 instead of 50)
You will still end up with 30 + 25 = 55 customers in year two – that's still an increase of 10%. How many businesses can claim that in a recession?
Now, consider that you do a really bad job for your customers, and they all go elsewhere next time. That means you have to get 50 new customers each year, just to keep your business at the same level. Not good.
Now, factor in the fact that your new customers will fall slightly because of the recession, and your business is shrinking.
So remember – offer a decent service for a realistic price. Be honest and up-front with your customers, and focus on service rather than price. Don't be afraid to turn down work which is too cheap, and concentrate on keeping your good customers happy.
And if you do end up a multi-millionaire, remember where you learned it all!
If you have any comments or feedback about this special report (good or bad) please let me know. You can contact me directly by email firstname.lastname@example.org
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