When it comes to growing your sales (and profit more importantly) one of the best and most often overlooked strategies is to work on conversion rate. Conversion rate is simply the ratio of customers that buy versus those that enquire. Any gain in conversion goes directly to the bottom line. i.e grow your conversion by 15% and your profit goes up by 15%. Well pretty much …
All business owners take risks.
You had to take a risk to start a business, and as you know; the opportunity to take risks is always present and often doesn’t get any easier.
The reality is, to move your business forward you will ALWAYS need to take risks. Right now it may be that one risk that turns into your biggest opportunity.
It’s easy to sit back and look at someone else’s situation and easily see a certain risk that makes sense to take. It’s a different story when you’re the one who has to bear the risk. Emotion; particularly the emotion of fear, becomes involved in the decision.
Looking back in my life, it is the biggest risks that I’ve taken that have provided the most reward emotionally, mentally and financially. And I’m sure it’s the same for many of you. To help you move forward and approach risks with some element of logic, I’ve outlined the key stages you’ll find yourself going through. I certainly find that when you can be objective about your emotion it helps to offset some of the fear. Fear is rarely rational. That certainly doesn’t mean we should ignore it. It is a very helpful emotion. Sometimes we just need to put it in perspective.