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The best strategies are simple.

This doesn't mean they are easy to implement. But simple means a strategy can be understood and put into practice.

Business turnarounds are some of my favorite projects to work on. I enjoy diving into the business and finding ways to improve, increase revenue, reduce expenses, and restructure for effectiveness. These can be incredibly tough jobs but very rewarding. Often I begin with simple approaches for moderate gains.

I was reminded of a simple framework for increasing revenue while working with a recent client. We needed to figure out if the business would be sustainable going forward, so we began with revenue.

This framework is one that might benefit you so I want to pass it along.

The idea comes from Jay Abraham, a famous business and marketing expert. He shares it openly. You can find his original PowerPoint resource here.

Abraham's framework says that there are only three ways to grow a business:

1. Increase the Number of Clients,
2. Increase the Average Transaction Amount, and
3. Increase the Frequency of Repurchase.

This simple framework needs some strategy to implement, but it isn't complicated.

There can be numerous ways to find more clients and get them to buy more. Using this framework will be different for each of you. All three can usually be done but depending on your type of business it's best to pick one of the three.

If you want to work on improving your business then sit down and look at your business through Abraham's framework.

You might find a simple path to more success.

Thanks for reading,

Phil

405 Leadership Advisors LLC

We help leaders define strategy and implement with ​confidence and clarity.