Brad Sugars is one of the worlds leading and respected business coaches. Today Brad provides an insight into five key areas to grow a business.

Brad says most people that come to one of his Action coaches generally want three things - more customers, increased turnover and higher profits. However, you can’t change those things on their own because they are simply the result of other factors in the formula.

So here are the five ways to grow a business:

1. LEADS
(prospects or potential customers)
X
2. CONVERSION RATES
(the difference between those that could have bought and those that did)
=
CUSTOMERS
(the number of different customers you deal with)
X
3. NUMBER OF TRANSACTIONS
(the average number of times each customer bought from you that year)
X
4. AVERAGE DOLLAR SALE PRICE
(the average price of the item you sell)
=
TOTAL REVENUE
(the total sales of the business)
X
5. MARGINS
(the percentage of each sale that is profit)
=
PROFIT
(something every business owner wants more of)

It’s important that you work at improving each of these five areas simultaneously. If you don’t, it’s a bit like going to the gym and only working the muscles in your right arm for one month, then the muscles in your left leg for the next month. It doesn’t make any sense.

To find out more information from Brad Sugars you can do a $1 test drive.
http://www.mentoringdreamteam.com/testdrive