Tactics for Scaling Your Business
August 26, 2021
Welcome to the final episode in our three-part series called the Three Levers of Profit.
In case you've missed it, here are links to the prior two episodes, and what we've learned so far:
#1 - You can increase profit by reducing your overheads
(equipment, buildings, HR, etc.)
#2 - You can increase profit by improving gross margin
(what you make per unit sold)
And today, we share how to increase profit with the final lever which is to increase turnover (sell more stuff).
If we look at this series as a rocket illustration, then reducing overheads, and improving gross margin is the launchpad. Increasing turnover is the fuel required to actually launch the rocket.
If you're positioned well for growth, then you have the most to gain from this episode where Blaine and I share how to increase sales (turnover) by:
- Improving average order value
- Expanding customer lifetime value
- Acquiring more customers (wholesale & retail)
Prefer to Listen? - Apple Podcast | Spotify
A big reason we love what we do is the absolute passion our GrazeCart clients have for serving their customers and making a big impact on the food system.
Building a business that last requires taking that passion, and combining it with the right business economics we've shared a little about in this series.
Have an idea for our next series? Let me know in the comments!