Business Growth Strategies You Can Use When You're Broke

It's becoming more and more common to hear business owners balk at investing in their businesses because of the cost. "I just don't have the money," they say. Okay, fair enough. The recession has eaten away at profits, and many folks are up to their eyeballs in debt.

But the reality is this: You've got to figure out how to grow your business fast -- or face the ugly alternative of closing up shop. And since I'm guessing you want to stay in business, let me share with you some business growth strategies that can be implemented with almost no money out of pocket.

Strategy #1: Start Using the Marketing Resources You Already Have

Have you ever bought something you didn't use? Yep, me too. And what I've found is that many entrepreneurs have hundreds if not thousands of dollars worth of untapped marketing resources sitting unopened on their bookshelves.

Do you realize how much potential revenue you're sitting on right now? Value doesn't come from owning tools and information, but rather from actually using it.

Strategy #2: Master "The Art of the Hustle"

Do you need to grow your monthly revenue by 20% this month? Then you need to take massive action. Don't waste time reading all the negative news or worrying about how you're going to pay your bills. That doesn't do you any good. You need to focus on what you can do today to create profit -- and start doing it.

* Look up past customers and clients... and call them. Sincerely thank them for their business. Offer them something special -- a coupon, a free gift, a discount -- to get them to buy with you again.

* Write good old-fashioned thank you notes and send them to prospects and customers.

* Create one-page sales flyers and see if you can place them at neighboring businesses.

There are literally hundreds of inexpensive techniques and strategies you can use to jump-start sales. The only thing that's required is some creativity and a little sweat equity.

Strategy #3: Referrals, Referrals, Referrals!

One of the best, most inexpensive ways to find new customers is through referrals. After all, your current customers probably know a few people who like similar things and buy similar products.

So why don't more entrepreneurs ask for referrals? Frankly, they're afraid. They're embarrassed. Something holds them back. My advice is to simply ignore how you feel and start using referrals as soon as possible. Once you see the new customers coming in, you'll actually be eager to implement a formal referral program.

All three of these business growth strategies can be implemented immediately with almost no money out of pocket. Implement one of them today and see how quickly you can generate new sales in your business.

Did you enjoy this article? Then run right over to Ryan Healy's Business Growth Strategies blog to get your weekly fix of profit-exploding business and sales advice. Even better, you can get his free "Conversion Booster Checklist" PDF right on his blog when you provide your name and primary email. Don't reprint this exact article. Instead, reprint a free unique content version of this same article.