Are you making this mistake?

Written by Richard Baldwyn ATT, CTA
February 2, 2015

I speak to lots of business owners about our Business Growth System and they tell me they're sceptical.

They've tried all sorts of things to grow their business and none of them worked.

So the first question I ask is "How many media channels are you using and how many media pieces in each?"

By media channel I mean direct mail, advertising, social media and internet for example.

By media piece I mean the physical marketing piece you use eg advert, leaflet, letter etc

The answer is usually very few.

And the reason given?

Normally "We tried that in the past and it didn't work".

Well, maybe it did. Maybe it didn't.

But one thing's for sure. If you want to grow your business, you need to grow your presence.

But you need to grow it in the right way.

How do you do that? S

Start by measuring what you're doing now.

Make sure you know what media piece is driving every lead and every sale.

Then start to tweak those pieces and measure against the original.

Run both.

Measure both.

Then run just the most successful.

Then tweak it and run both.

Measure both.

See where I'm going with this?

And once you have something which works in one medium (eg an advert), use it as a basis in another medium (eg a sales letter).

And do this slowly - don't spend money you don't have.

But as long as you're getting a positive return on investment, you're on to a winner. And the Business Growth System is full of ideas for you to adapt and use in your own business. Low cost and no cost strategies to get you started.

Want to find out more?

Email me with the subject "Help me grow my business" and I'll be in touch. 

About the author

Richard Baldwyn ATT CTA

Richard is Co-Founder of The Friendly Accountants and has more than 30 years' experience in tax, including 3 years spent inside HMRC before moving into private practice. He advises individuals and owner-managed businesses on a wide range of UK tax issues, including the tax challenges created by digital platforms and online business models.

Richard has specialised in UK crypto taxation since 2016 and was one of the first UK tax advisers to write publicly about the taxation of cryptoassets. His work includes advising individuals, investors, founders and owner-managed businesses on complex crypto transactions, HMRC disclosures and enquiries, DeFi, NFTs and the tax issues facing businesses operating with digital assets.

He also has first-hand experience of cryptoassets and Web3 projects, combining practical knowledge of how crypto is used with wider UK tax experience.

He particularly enjoys making complex tax transactions easier to understand and helping clients apply tax rules to transactions and technologies that do not always fit neatly within traditional tax categories. More about Richard and the TFA team

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