One of the biggest mistakes most businesses make is focusing all their effort on finding new customers and forgetting about the ones that just bought from them. This is a big mistake because it cost money in the form of advertising and marketing to acquire a new customer.

Your business will make more profits by increasing sales from existing customers because It is up to six times easier and cheaper to sell again to an existing customer than it is to sell to a new potential customer.

Your ideal goal should be to find and keep customers for life. The best investment and ROI is to invest in your current customers and cultivating new business from them than you are trying to chase down new clients. Just a 5% increase in customer retention (stop existing customers leaving) produces a 25% to 100% improvement in profit.

So you have done some marketing and advertising, and you are getting some pretty decent prospects - however, you are just not getting the sales you want. If this sounds like you, then you need to work on increasing your customer conversion ratio.

The conversion ratio in sales and marketing is the percentage of Leads (potential customers) you convert into paying customers. For example, If you had 10 people coming to your store, office or, website, but you only sold to 3, then your conversion rate would be 3 out of 10. That means your conversion ratio is 30%

The conversion ratio is a quick and easy indication of how well your business performs at converting prospects into customers. Conversion rate is also known as Lead conversion rate, Sales conversion rate, Prospect conversion rate, and Customer conversion rate.

Of all the ways to waste money and time on generating leads, advertising seems to be everyone's favorite. Many businesses depend too heavily on advertising when there are so many more cost-effective marketing strategies to generate leads, and find customers than expensive advertising that doesn't work as well as it uses to. 

For Example: By getting just 1 client as a referral from an existing client can double or triple your sales in one month. And best of all, your clients will love doing it, and it doesn’t have to cost you a cent. Powerful!!!

Each business has its own unique set of problems as each business has its own distinctive ‘recipe’ for the way it runs and operates. It is dangerous to believe that what worked for a similar business will work for yours. 

To determine which turnaround Type and Strategy will be suited for your situation. You may need to do a business turnaround analysis that includes an insolvency and viability tests. If you find that any of these tests are positive for your current business situation, it is vital that you take action as soon as possible to address the insolvent position by speaking to a professional.

Signs of financial distress in business are merely symptoms of different causes that are responsible for a business in financial trouble.  

There are many reasons why business find themselves in financial  distress, struggling, and even failure. But the largest single cause of small business failure, except for a few external reasons like sudden illness, legal challenges, natural disasters or unfavorable economic conditions, is management failure. To be more specific, financial management failure, and it's NOT YOUR FAULT.

Business financial performance is the overall financial measure of how well a business can achieve its financial objectives, using its assets to generate revenue and profit over a given period. 

These warning Signs Of Poor Financial Performance in a business may indicate that the business may be under pressure, at risk, or in financial trouble and may be going out of business in the near future.  Signs of financial distress in business are merely symptoms of different causes that are responsible for a business in financial trouble.  

This "Turnaround Checklist" was created with the intention to help business owners in analyzing their business position, and to be able to make the right choice regarding their business turnaround strategy.  Once you’ve completed the turnaround checklist, you will have a good idea of where your business stands at this point, and have the ability to choose the right turnaround strategy to adapt, adjust and return your business to its previous profitable state.

Are these guys off their rockers?!!!  Growing my business by 100%, 300%, 500% or 1000% would be huge stretch.  But multiplying my sales by 10,000%!!!?  There’s no way!

That’s the point.  There’s no way you can do it alone.  This is a goal that is bigger than you.  Maybe bigger than everyone in your current company combined.  But it’s a goal that is doable.  Maybe even essential.

To fully understand the enormous growth potential marketing can bring, you need to understand these marketing laws and principles. These marketing laws and principles are the foundation for increasing sales without spending more on advertising that doesn't work. Once you have accepted these marketing principles, and implement them in your business over the following weeks and months, you will see a huge impact on sales and revenue So let’s dive in and look at these 12 essential marketing principles and laws in your business.

Before you can decide  if the business can be rescued and turnaround, you have to look at the ‘whole picture’. You need to understand the business, what makes it tick, its strengths and weaknesses and where the opportunities are. This business turnaround analysis provides you with about 230 questions to help you analyze the business. Sufficient analysis must be done to ensure that the correct options are selected for the improvement.  The evaluation of the business at this stage may take a few days for a small business, or up to several weeks for a larger company. The outcome of the turnaround analysis will determine your course of action. By having a clear picture of the particular problems you will be better prepared to cope with and solve the problems. Time is of the essence and certain basic steps need to be taken.