Any business can have a good day, a good week, and even a good month. Yet, the best businesses –– the ones that thrive and grow for years at a time –– experience positive outcomes on a markedly consistent basis. Successful growth isn’t something that happens in bursts or once every few years. Rather, businesses that last are growing all of the time –– even in the midst of difficult economic conditions. Here, we’ll explore this subject further and list three keys to sustainable business growth:
Yes, customer acquisition is necessary for a business to grow. But without a strong customer retention rate, any gains will quickly be erased. Building up a loyalty customer base is very challenging. It requires excellent customer service, quality product implementation, and precise marketing. Without a steady stream of income from reliable sources, though, no business can realistically project long-term growth.
Note also that