Omar Zenhom breaks down all business growth into three levers: acquiring more customers, raising prices by adding value, and getting existing customers to spend more through upsells and deeper engagement. Every growth tactic, he argues, ultimately pulls one of these three.
One of the things I love about business is that it's pretty simple and there's only 3 ways you can grow a business. Just 3. Lever 1 is the obvious one. I just need more customers, people say, but that's just one lever. Lever 2, higher prices. Most people would just ignore this lever. They just pretend it doesn't exist. No, charge more per customer. Go upmarket. And here's the secret. You could do it by just simply adding more value to your product or service. Lever 3, more Per customer, increase how much each existing customer spends with you. That's it. Those are the 3 levers. Each growth strategy in the history of business pulls one of these 3 levers.
