Increasing Average Revenue Per Customer in a Professional Services Business
January is well on its way, but I have to confess I've never been more anxious and excited about the new year. We've set some–at least for us–pretty large goals in our business. After two years of COVID, it feels like this is going to be the year we break from the trend.
Those goals also include revenue numbers. There are lots of ways for professional services business to increase their average revenue per customer, but this is something we've never truly focussed on. This was affirmed by this tweet from Patrick Dichter. Luckily this article was already in the works and includes both the things we have been doing, as well as things I plan on doing in Q1. Have some tips to share yourself? I'd love to hear.
Learning to use Twitter
Last summer I made it a point to get active on Twitter. The primary reason for this is getting exposed to other small business owners, hoping to learn from their experiences. I'm not exactly sure how, but in the last few months things finally started to click. Several people have been sharing their insights with me through a quick @reply and I'm learning a ton. I think I've only scratched the surface here, so hoping to report back later in the year.
Being a good investor
Investors often have a bad rep across the general public. Whether they are just a minority shareholder, PE firm or large institution. I came across this beautiful video from Permanent Equity about one of their investments that showcases their relationship with the companies they acquire. Definitely worth a watch.