McDonald’s founder Ray Kroc famously said, “If you’re green you’re growing, if you’re ripe you rot.”

When it comes to running a business, growing is a balancing act between revenue, profit, and cash flow. In this Growth Levers series, I’ll be breaking down powerful levers that will boost your revenue, profit, and business value.
Just like a physical lever lifts heavy objects with minimal effort, these business levers can drive substantial growth and unlock new levels of success and sustainability. Let’s dive into 16 of the most impactful revenue growth levers and see how they can work for your business.

1. Increase Number of Leads

At the top of the marketing and sales funnel are leads, or potential customers who have shown interest in your product or service. More leads mean more opportunities to convert them into paying customers–and to get pickier about who your target market is.

There are four core ways to get leads: warm outreach to people already in your circle, cold outreach to people you don’t know and who don’t know you, content marketing, and paid advertising.

For Example: A professional services company offers a free but highly valuable downloadable resource to prospects. By capturing their contact information in exchange for the resource, the company has new leads to work through the sales funnel.


2. Increase Conversion Rate

Once you have all those extra leads, the next step is to convert more of them into customers. Improving your conversion rate can have an exponential effect on both revenue and profit.

For Example: A dental practice has new customers calling and booking appointments, but the no-show rate for the first appointment is high. The practice starts texting appointment reminders the day before and an hour before, and the no-show rate drops in half.


3. Increase Number of Transactions

Encouraging customers to buy more frequently is another effective lever. Think loyalty programs, reminders, or subscription models that pull customers back into your orbit at repeated intervals.

For Example: A coffee shop offers a punch card: buy ten coffees, get one free. Customers are motivated to return more often to earn their free drink.


4. Increase Average Transaction Value

Boosting the amount each customer spends per transaction can significantly impact revenue. This can be done through upselling, bundling products, or offering premium options.

For Example: A clothing store suggests a matching belt and scarf to go with a purchased dress, increasing the total sale value.


5. Increase Customer Lifetime Value

Customer lifetime value (CLV) is the total revenue you can expect from a customer over the course of their relationship with your business. Strategies to increase CLV include excellent customer service, personalized offers, and regular engagement.

For Example: A gym provides personalized fitness plans and regular check-ins, ensuring members stay longer and continue their memberships.


6. Increase Cross-Sell / Up-Sell

Cross-selling involves offering related products, while upselling encourages customers to purchase a higher-end version of a product.

For Example: A chiropractic clinic offers a supplement bundle in addition to regular adjustments.


7. Sell Up the Value Ladder

Offering a range of products or services at different price points can attract customers at various stages of their buying journey and encourage them to move up to higher-value offerings over time.

For Example: Red Bike Advisors offers bundled, fixed-price monthly accounting and tax services with options for additional services such as payroll and bill pay. We also have a premium virtual CFO and advisory service for companies that are actively looking to manage cashflow and grow.


8. Increase Annual Recurring Revenue

Implementing subscription models or service contracts can provide a steady, predictable income stream.

For Example: A marketing agency offers monthly retainer services, ensuring consistent revenue and ongoing client relationships. The bonus: The monthly fixed pricing is better for their clients’ cash flow too.


9. Productize Services and Value Sell

Turning services into standardized products can make them easier to sell and scale. Highlighting the value and benefits can justify higher prices.

For Example: A consulting firm packages its expertise into a series of “done for you” packages, allowing clients the peace of mind that comes with fixed pricing and clarity on the scope of work.


10. Sell to a New Demographic or Geography

Expanding your target market to include new customer segments can open up additional revenue streams.

For Example: A skincare brand rebrands a core product’s packaging to appeal specifically to teenagers, tapping into a new and growing market.


11. Acquire a Tuck-In Business

Acquiring a smaller, complementary business can provide immediate revenue growth and additional resources, as well as cross-sell opportunities.

For Example: A landscaping company buys a small garden supply store, increasing its product offerings and customer base and opening up the opportunity to cross-sell both customer lists.


12. Tap Into Centers of Influence

Partnering with influencers or industry leaders can help you reach new audiences and gain credibility.

For Example: A health food brand collaborates with a well-known fitness influencer to promote its products, boosting brand visibility and sales.


13. White Label Other Products or Services

Selling products or services created by another company under your own brand can expand your offerings without the need for development.

For Example: A dental marketing agency offers a white-labeled CRM software to its clients for an additional monthly fee, without the R&D expense of developing the software themselves.


14. Leverage Affiliate Audiences

Affiliate marketing allows you to reach new customers through partners who promote your products for a commission.

For Example: A course creator partners with bloggers and social media personalities who share affiliate links to their products, driving traffic and sales.


15. Ask for Referrals

Encouraging satisfied customers to refer others is a powerful and cost-effective way to generate new business, but in order to do it well you need to do it at regular intervals and at the right moment… preferably when your customer is the happiest they'll ever be with you.

For Example: A real estate agent offers a referral bonus to clients who bring in new buyers or sellers, leveraging their existing network to find new leads. They have operationalized the process to ask the moment the house is bought or sold, which means it happens every time they have a sale and are asking at just the right moment.


16. Increase Prices

When was the last time you raised prices? Our philosophy is that small business owners should be raising their prices at least by the cost of inflation every year–and beyond that, should actively work to increase the value of their products and services so the price can go even higher than simply inflation.

Not only does a price increase substantially improve top-line revenue, it also has an exponential effect on profit. A famous Harvard study showed that increasing price by just 1% will actually increase operating profit by 11.1%.

For Example: A plumbing company increases prices by 10% each year, but has implemented a thoughtful dispatch system that keeps customers informed every step of the way. The price increase allows the company to recruit higher-quality staff and perform the work more efficiently.

Here’s a little secret: Combining growth levers can exponentially increase revenue. For example, if you are able to increase your leads, your conversion rate, and your average order value, you’re bringing in more customers for more money without any extra resources.

Which revenue growth levers can you implement in your business this quarter?