What are the only three ways to grow any business?

There are only three ways to grow a business: One, get new customers (measured by new sales). Two, increase revenue per customer (measured by Average Order Value or AOV). Three, get repeat business from existing customers. Most people focus only on getting new customers, but all three are important levers. Early on, getting new customers is most critical, but as you grow, increasing AOV and getting repeat business become equally important.

---

Asked by synthesized from teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2021-01-06