Steve Scott of Birmingham has been operating Scott’s Pawn & Jewelry for more than twenty years. With his wife Teresa by his side, they dedicated their time to finding ways to grow the business. Today, nearly twenty-four years after opening the doors to their first pawn shop, the Scott’s have more than thirty locations throughout the Southeast. Growing sales is essential for businesses to find success. Here are some of the top techniques businesses can employ to grow their sales.
- Target marketing opportunities by analyzing your presence within the market. Consider targeting new markets by providing new products or services that are suited for the new markets. Take the time to do some research and market testing with your current customers to determine a new company approach in new markets.
- Get some outside perspective by hiring a consultant or expert. They will help you to create a development plan, providing you with the knowledge you need to grow and expand the business in an effective and credible way.
- Listen to what you customers are saying. Get feedback from your customers regarding possible product expansion and possibly adding new ideas to your existing line of products. Use questionnaires or focus groups to gain feedback from your customers.
- Invest time in financial planning and accounting. Spend time analyzing your current budget. This will allow you to make changes that will allow you to have enough funds to further market or business and product development. Once you’ve analyzed your budget and changed it accordingly, you can spend time on financial planning to help you put a plan in place to reach your new financial goals.
These techniques will help make sure your business development efforts are a success. Steve Scott, owner of Scott’s Pawn & Jewelry has spent more than twenty years building his single location pawn shop into more than thirty locations throughout the southeastern part of the United States.