Small Business Development Center

Three Ways to Grow a Business

When it comes to growing a retail business there really are only three ways to grow.

You can:

  1. Increase the number of customers you serve.
  2. Increase the average transaction value.
  3. Increase the frequency of customer visits.

Is one of these three ways to grow any better than the others? I would argue, yes. But it depends…

First, it is helpful to engage in a little analysis and self-reflection. Because knowing why you want to grow and which way you intend to grow helps you focus on the variables you can change.

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