New Business Can Lead to New Revenue

Establishing and maintaining new revenue streams is crucial not just for expansion, but simply for surviving as a small-business owner. If sales have plateaued and you are simply treading water, you're only one or two lost clients away from catastrophe.

You should always be looking for leads, and nurturing those leads, until they become new revenue streams.

Answer Within: Cross Referencing

As discussed in the article "Help! I Need To Develop New Business - Now What?" the answer just might lie within.

Spend some time getting your sales team to share information and leads with each other.

If different services and products could be cross-sold to existing customers, your business is not only improving sales, but shoring up your base of crucial repeat customers.

Get out of the Office

In a tutorial by experts from American Express, the author recommends what is instinctively understood by so many successful leaders - all business is people business.

Get out of the office and go to industry conferences, seminars, gatherings and other events. Don't just pass out business cards - interact!

Networking is an overused term, but a meeting of the minds is a sure bet to discovering new strategies, new opportunities and new leads.

Work the Phones

Social media presents a great opportunity to avoid the traditional humdrum of telemarketing and cold calling.

But Facebook, Twitter, Pinterest and the rest also provide an excuse for complacency. If a few tweets, posts and updates were all it took, everyone would be successful.

A personal voice and a discussion with an actual human being is still the surest way to new business.

Incorporate Video

Emails, pictures and other advertising elements can go viral. But video is the undisputed king when it comes to reaching massive audiences with limited expense.

Video is the most shareable form of media for a reason - it attacks all of the senses and enables business owners to let the human beings behind their company shine through.

Use video on your website and in your email and social media campaigns as a tool to personalize your business and reach out to new customers.

Leads are hard to find - but a savvy business owner is always on the hunt because new leads lead to new business.

Work video into your marketing mix, dust off that telephone and use the tried-and-true platforms of cold calling and telemarketing, don't forget to exploit the leads you already have through cross promotion and get out and meet some likeminded businesspeople.