Some Simple Strategies to Increase Sales for Women in Business

Are you a woman in business seeking some simple strategies to increase your business sales? Then maybe it is time to revisit the 3Rs Performance Model.

No I am not speaking about the 3Rs from your early childhood education of reading, 'riting or 'rithmetic, but the 3Rs for business: Relationships, Referrals and Revenue.

Business exists to make revenue - the third R. This R is the direct result of business referrals (second R) given that 80% of all new business comes from referrals. Businesses secure referrals from relationships (first R).

To increase business sales demands that you track all of your relationships that have been generated through your marketing activities. From those marketing activities you realize sales that lead to productivity or profitability.

For example, if you know that you attend one business networking event (marketing activity), you will secure 5 leads of which you build 3 relationships. Those 3 relationships lead to 2 sales that deliver 20% gross profits.

Another way to measure business results is through how many calls you make that deliver X percentage of appointments. Those appointments give you X% of presentation appointments from which you receive X sales. In real numbers, the progression might look like this:

100 calls = 50 first appointments = 25 presentation appointments = 10 sales.

If you want to increase business sales, then you need to make 200 calls to double the current sales results. However increasing sales is only one part of the equation. An increase in sales may result in a decrease in profitability because you may be generating more costs to deliver more sales.

By returning to your strategic plan, you can map a course so that when you take action to increase activity, your costs will stay within the acceptable parameters. And if you really have taken the time to plan your strategy, you may even be able to reduce some costs and increase profitability.