Are your sales growing? Where are the new sales coming from? No matter what business you are in, there are only four sources of new business.
Only Four Sources Of New Business!?
Why are there only four sources of ways to grow your sales? Think about it and look at the chart with this blog. You can add new customers to buy your current product line or sell more of those products to existing customers. If your existing customers have needs for products other than what you currently sell perhaps you can add new products to your offering. By adding new products the possibility exists for adding new markets with needs different from current customers. See, only four sources of new business for your company or sales territory.
New Products and New Customers
This is the most challenging way to grow business. It’s a difficult enough task to convince a new prospect to trust you even when you are selling a proven product. Convincing a prospect to take a chance with an unknown company and unproven product is not impossible but more difficult than other options.
I worked for a company in the 1980’s when metal recycling was taking off. We made thermal processing equipment to heat various materials to high temperatures. The company had never sold …