Council Post: Five Ways To Expand Your Business Revenue In 2021

CEO at Business Success Factors, advising companies in boosting their sales revenue and having top-performing sales teams.

It’s no secret that 2020 was a hard year for business owners. Among the Covid-19 pandemic, lockdowns and social, political and economic unrest, businesses struggled to adapt and grow in a year that proved to be anything but ordinary.

Despite the hardships of 2020, a new year is upon business leaders; if taken advantage of, this year could be the year for your business. Now is the time to put your foot on the gas pedal and focus on growing your business. Here are five things that you can do to grow your revenues in 2021 and beyond.

1. Address blind spots in your company as soon as possible.

Your first priority should be addressing any blind spots in your company, as these will stop your business (and of course, revenue) from growing. This could be anything from your leadership style to failing to hire the right people.

I’ll give an example from my own experience. I worked with Chet Holmes as his president of sales, and I found out that his company wasn’t following up on all his leads. They were a sales training company, and they had close to 170,000 leads over time that were never contacted more than once. We immediately began a reengagement campaign to generate new sales, as there were millions of dollars in potential revenue simply sitting there. From the first week, we instantly generated sales.

Make sure that you take the time to go through your business and address any potential blind spots like this that could be damaging to your business revenue potential. And once you find them, address them as quickly as possible and implement solutions so they don’t stick around, mucking up your revenue growth plans.

2. Get clear on your target audience.

After you’ve addressed any blind spots within your company, do you know who your target audience is and why? Getting clear on this is vital in 2021 since everyone is trying to be sold something, and you need to make sure what you have is reaching the right audience — those who will truly benefit from, and therefore invest in, what you’re providing. Plus, it’s going to be tough to grow your business if you don’t know who will actually buy your product or service, so you may end up selling to the completely wrong audience.

If you want to grow your business, get clear on the large and small details of your target audience, whether that’s $5 million-plus businesses or women in their 30s who have a master’s degree.

3. Create a growth plan.

After addressing the blind spots in your company and getting clear on your target audience, turn to creating a growth plan. Many companies have revenue goals, but what about a growth plan? Too many companies only focus solely on their numbers when planning (which, of course, is important) but fail to look at what the impact on the systems and people within the organization might be as well.

Be sure to really take some time to evaluate where you are in your business now and where you want to be by the end of the year. Get clear and honest with yourself about how much you want to grow this year and how you plan to do so, and communicate your growth plan to your team members so that everyone is on the same page. This, in turn, will help grow your revenue, and you can set genuine and accurate goals this way.

4. Prospect massively.

Prospecting is always a critical necessity in business, but I believe that it will be even more important in 2021. There are so many different businesses that potential customers and clients can go to; and with social media and internet analytics in full force, customers and clients are barraged with different choices. Assume that your customers won’t find you. Rather, you need to figure out ways to find them, whether this is through social media, cold-calling or other methods.

Up your prospecting by a minimum of 20% this year and focus on finding quality leads. Remember, the master prospector will always out close the master closer, so prospect, prospect, and go ahead and prospect some more for good measure.

5. Become a sales-driven business.

Generating revenue from sales is the lifeblood of a company, so incorporating a sales mentality into your business’s culture is crucial. Becoming a sales-driven company can take on a variety of forms, such as where every employee is trained on how to sell in their particular area of expertise. Make sure that your team members — from finance to customer service — are trained on how to effectively sell in their particular field. Brush up on your own sales skills, too, and make time to regularly identify sales opportunities within your business. Sales-driven business is the way forward in 2021 and beyond, so be sure that your business is up to speed.

The year 2021 is already shaping up to be noteworthy, and it’s a year that could have substantial impacts on your business. Use these tips to stay ahead of your competition and focus on generating massive growth this year.


Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?


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