An organism which no longer grows—physically and/or mentally—will wither and die. The same is true for established businesses. There is no such thing as the status quo and growth is essential for any business to continue to thrive.
There are only three ways for any business to grow:
- By attracting new clients
- By selling the same products or services more frequently to existing clients
- By selling more valuable products or services to existing clients
Generally speaking, it takes much more energy to attract new clients, than to create more value for the clients you already have. Strangely enough, I have noticed that most of the growth efforts in many organizations, typically go into finding and selling to new clients.
Thus, the biggest potential for growth hacking for any established business requires only two components:
- One list of all your clients
- One question: How can we create more value for our existing clients?
This simple approach will help you to shift your precious organizational resources to the place where they have the biggest impact on growing your business.