Three ways to grow your business

October 24, 2023

Most businesses are looking to grow – not all businesses, but most. There are three ways to grow your business, and the way to achieve growth is to focus only on these three things.

But first – why do you want to grow?

We suggest that you answer the following five questions first.

What business are you really in?
Think about Netflix and Blockbuster for this question – Netflix was offered to Blockbuster for $50m but was turned down. We all know what happened to Netflix and Blockbuster, but what went wrong? Blockbuster needed to understand what business they were in – entertainment.

Why am I in business?
Why did you set up your business? Are you there yet, and if not, how will you close the gap

Who am I in this business?
Am I an artist, a manager, or an entrepreneur

Where are you in the life cycle?
Think about the individual, the business, and the industry.

What is next?

So, back to the three ways to grow a business.

1) Increase the number of clients of the type you want
Identify the ideal customer and plan a lead generation and prospect management process to add to the number of customers.

2) Increase the average transaction value of your customers.
You can increase the number of services a customer takes or the price of existing services.

3) Increase the frequency of the times a customer buys from you.

Let’s see the impact of small changes to these three things. As shown below, increasing each of the three things by a small amount brings about a 33% growth. Most businesses can achieve this small change that brings about big results.

Number of Customers

Average Transaction Value [£]

Frequency of Purchases

Total [£]

Current Sales









Increased Sales






You May Also Like…

HMRC Helplines to close again

After the trial last Summer, HMRC has announced an even longer and far-reaching closure of its telephone helplines...


It’s not too late to undertake some end-of-year tax planning. If you have some spare cash, an obvious tax planning...

144 Legal Tax Saving Ideas

Should your accountant save you tax? We say, yes, they should, but within the law. At Seagrave French Accountants and...