Monthly Archives: February 2021

Looking To Scale Your Ecommerce Business: Here Are 5 Things You Need To Do

Every business wants to grow once it starts. In the beginning, you are not concerned about the growth factor. All you want to do is get the product done, find out the customers, assemble your team and get to work. You do not give a lot of thought to growing or scaling up. You leave that for a later day.

However, there comes a point in every businesses’ history where it has hit a growth wall. There are then just two options before it-

  1. Invest to scale up the operations, workforce, revenues, products, and services
  2. Be comfortable with what you have and see your advantage slowly diminish away

In this article, we speak to experts at Common Thread Collective, a leading firm helping Ecommerce businesses with scalability. We ask them about some steps and strategies to help online store owners with scaling up their enterprises.

List of 5 Things you need to know for Scaling up your Ecommerce Store

1.Scaling up through Awareness Generation and Marketing-

You have probably hit a growth wall because you have reached target audiences within a geographical territory. This means that to scale up, you need to reach out to customers in a new geographical area.

This is very a strategic marketing campaign that can help you grow. All you need to do is generate awareness about your brand, its products, and services. You also need to show how your existing customers are benefitting from your business. Awareness helps in scalability.

2.Using Automation and Freeing up more time for your Team Members-

Technology can help boost your scalability in a major way. Automating manual processes will allow you to free up the time and energy of your team members. The same can then be directed towards growing the business, improving products, and creating newer models of innovation.

Most of the big Ecommerce businesses are going in for rapid automation, including using robots at warehouses (Amazon, Walmart, eBay, etc). While smaller platforms might not have the resources to invest in life-size robots, there is always plenty of AI-enabled tools to help.

3.Look at Outsourcing Different Aspects of your Business-

Do you think Apple could have become the size it is today by doing its manufacturing? The answer is no. Apple outsources its manufacturing to companies like Foxconn. This allows it the time to create newer and better products and innovate to make it a market leader.

Similarly, Ecommerce companies should look to outsource areas of their business, like the packaging. While this might add to the expenditure, imagine the time, effort, and energy you would be saving. All this can then be used to scale up the business in different areas.

4.Secure Funding, Investments, and Financial Assets-

If you want to fuel your expansion and scale it higher, you need the fuel to do so. In very simple terms, you need a lot of money for all the processes, structures, and growth strategies. This means that if you do not have your assets, you need to look for investors to help you.

Many ecommerce start-ups hold funding rounds and disinvest their shares by bringing on board investors. This allows them to get the cash inflow required to fuel further expansion. Without adequate finances, you can bid goodbye to your chances of scaling up your online store.

5.Plan Every Step of the Scaling Up Process-

There are three words that you need to take into consideration when scaling up- plan, plan, and plan! Every step that you take concerning scalability needs to be thought through at multiple levels. This includes thinking about technology, the tools to use as well as customer relationships.

Planning will ensure that you are not found wanting when it comes to taking tough decisions, be it in raising funds or innovating on a new product. Most of the top ecommerce businesses concentrate on creating a growth division that looks specifically on issues like this.

The Bottom Line

Scalability is not very easy to attain. Most Ecommerce companies without proper guidance and strategies fail. However, if you follow the five things mentioned in the blog article, you will have a much better chance of scaling your Ecommerce business than your competitors.

 

Limitless Possibilities

Mоѕt people hate what they dо for a living, but ԛuіttіng isn’t an орtіоn. Whаt a mіѕеrаblе еxіѕtеnсе tо ѕреnd mоrе thаn hаlf уоur waking lіfе doing ѕоmеthіng you hate…

Few реорlе gеt to decide еxасtlу where they wаnt to lіvе аnd rаіѕе a family.

Mоѕt реорlе dіе hаvіng ѕееn lеѕѕ than 1% оf thе wоrld. Whеrе wоuld you love tо visit, but саn’t currently аffоrd tо?

Evеn bеfоrе thе раndеmіс thеrе wеrе people wеrе drоwnіng іn dеbt.. now with the раndеmіс, a hесk оf a lоt оf реорlе аrе оut of work, and a majority оf ѕmаll businesses hаvе to consider thеіr fate. Stоrеfrоntѕ closed fоr whо knows how lоng.

Maybe уоur situation isn’t ԛuіtе аѕ bаd, реrhарѕ уоur buѕіnеѕѕ іѕ dоіng ѕоrt of OK, but уоu’rе still living mоnth tо month.

Whаt wоuld you give tо hаvе соmрlеtе peace оf mіnd?

Juѕt imagine being аblе tо buу a new еxреnѕіvе саr whеn уоu are tired оf thе one you drіvе. Imаgіnе hаvіng at lеаѕt ѕіx mоnthѕ of income all ѕаvеd fоr a rainy day… and juѕt іmаgіnе thаt уоu hаd a choice to work or nоt!

Whаt wоuld уоu give to have complete реасе of mind?

Sаdlу, mоѕt реорlе wіll never know what іt fееlѕ lіkе.

Hоwеvеr,thеrе are people іn thеѕе difficult tіmеѕ whо are finding life rather еаѕіеr thаn thе mаjоrіtу.

Amazon Oрроrtunіtу-Tо Infіnіtу And Bеуоnd.

Amаzоn has сrеаtеd the Bіggеѕt mоnеу-mаkіng opportunity fоr еvеrуdау реорlе just lіkе уоu аnd mе… Our gеnеrаtіоn hаѕ nеvеr ѕееn аn орроrtunіtу lіkе this bеfоrе

Amаzоn is еxреrіеnсіng staggering grоwth. I аm ѕurе you will hаvе hеаrd that they are lооkіng to hіrе аn аddіtіоnаl 1000,000 workers thіѕ year

Onе іntеrеѕtіng fact уоu might аlrеаdу know іѕ thаt 50% оf Amаzоn’ѕ рrоfіt doesn’t gо tо Jеff Bеzоѕ. Amаzоn sellers аrе thе оnеѕ thаt are getting thе bіg сhесkѕ. Thіѕ mеаnѕ that you too саn grow уоur buѕіnеѕѕ as fast аѕ Amаzоn

4 Ways to Ensure Your Business is Always Relevant

Change is the only constant in both business and life. Indeed, while certain successful companies may seem perfectly positioned for the future, the fact is that technology and consumer behaviour can change the business landscape rapidly. Consider how quickly large companies like Blockbuster and Toys ‘R Us faltered in recent years and it’s easy to see that even the biggest businesses are susceptible to problematic changes. With that in mind, today we’ll explain how ambitious business leaders can ensure their organization always remains relevant. Check out our top four tips on the subject here:

Embrace New Technologies

No one can predict exactly what the next big tech breakthrough will be. After all, few people in 2005 would’ve predicted that by 2015, smartphones would become almost ubiquitous. However, business leaders can anticipate new tech breakthroughs and prepare their team for them. On that note, it’s always important to invest in training and development to educate your staff and to help them adapt to new technologies in the workplace. Remember, if your company fails to embrace new technologies, someone else will.

Engage with Consumers

People are not static. They develop new tastes, new preferences, they experience new problems, and they need companies to change in order to satisfy their needs. As such, business leaders should strive to promote strong customer outreach efforts. Surveys, direct mail marketing questionnaires, and even in-person interviews can provide professionals with vital insights they need to stay in touch with their customer base. Don’t ever assume you know everything there is to know about your customers.

Develop New Products & Services

It’s no surprise that some of the longest-lasting companies have managed to change their products and services dramatically over the course of their existence. Indeed, while businesses should strive to maintain consistent quality service, the types of products and services they offer should change based on the needs of their customers.

Keep Things Fresh

New employees, new locations, new branded material –– all of these things can help a company stay relevant and competitive in a fast-changing market. It’s particularly important for business leaders to surround themselves with capable professionals who can offer fresh perspectives. Hiring talented new employees and giving them license to make positive changes is crucial to long-term business success. No one person will ever have all the right answers. So be sure to assemble a team around you that will keep you thinking outside of the box.

Conclusion

While it’s not possible to predict the future, you can use these tips to guarantee your business doesn’t make the same mistakes other companies have in the past!

 

Ready To Change Professions? Here Are Three Musts To Make That Happen

Decades ago, it was common for workers to remain with one company from the first day until their retirement party. This practice, though, is far from regular anymore. The versatility of the educational world and the market’s design has made it possible for people to move about, shifting their goals and interests. For those feeling stuck in a job they don’t love, it may be time to find a new path. That shift is possible, albeit somewhat hard at first. Be sure to do the following things to make the transition possible.

1. Research What the Field Requires

What is it going to take to get into this to work? For example, business leaders looking to enter the educational field should seek out an educational program. Look for something that fits various states and places. Grand Canyon University accreditation team is a prime example of an online institution that serves several geographic regions. The degree here works with other state laws. It’s important to know that the degree is acceptable for your location.

2. Make Room in Your Schedule

Get ready to be busy. After all, you can’t stop working your day job to go back to college. Look over your schedule and determine how many classes you can take at one time without being overwhelmed. Find a college, online or in-person, that suits these needs. Pencil everything in to be sure you stay on top of everything.

3. Plan for Increased Spending

Courses cost money. Evaluate the monthly budget and speak with people in the financial office. If a stumbling block arises and you need to stop, make sure the classes can transfer later on. Grand Canyon University accreditation, for instance, is a flexible institution. Its accreditation works with other colleges. Nothing is lost when a break happens.

Dare to reach your dreams. It’s okay to change what you do. Just be sure to know what is expected of you and work hard for it.

The Benefits of Traveling Solo

Spending time alone has a lot of benefits, but it isn’t always easy to feel confident enough to do this anywhere other than at home. For a lot of people, the idea of dining by themselves in a restaurant makes them feel awkward and uncomfortable, let alone going on a weekend break or a longer solo trip. Yes, sometimes being alone can feel isolating and boring—but once you start getting used to it, you’ll notice how liberating it can be to have the confidence to be the person who has sat alone in a busy café or wandered the city streets with only the skyscrapers and rushing crowds for company. If you have always liked the idea of going away by yourself, but haven’t felt brave enough to do it, here are a few benefits to solo travel that might help you give it a try.

Freedom

Going traveling alone is great because you don’t have to make allowances for what someone else wants out of the vacation. You get to choose the destination, you get to choose what sights to see, you get to choose the restaurant every night, and you get to decide what dates are best for you to travel on. It’s entirely up to you what kind of trip you want to have—making it the perfect escape.

Time for Reflection

Sometimes it’s important to take stock and reflect on life in order to help you get a better idea of who and where you are. It can be difficult to do this when you’re caught up in the routine of daily life, and even though going on holiday with someone else is a good chance to step back from the usual hustle and bustle, that other person can still serve as a distraction from truly reflecting on your world. Going on a trip alone can allow you the opportunity to think about what you want in life, how to achieve it, and how to be grateful for what you do have.

The Opportunity to Meet New People

Just because you’re traveling alone doesn’t mean you can’t socialize with anyone during your trip. You might meet people in a local bar or café one afternoon, or perhaps you could even go on an organized tour where you can bond with fellow travelers? It could be the perfect opportunity to make new friends from all over the world. You can find out about the best spots to hang out at your destination or more information on tour opportunities via sites such as Mr Hudson Explores, or similar travel blogs that have been written about your destination.

Improves Your Self-esteem

It takes a lot of confidence to be able to go away to somewhere new alone, but doing so could do a lot to help boost your self-esteem. Becoming more comfortable with spending time by yourself in public places will help you enjoy life more when you return, and perhaps encourage you to make more time to spend by yourself rather than feeling the pressure to always engage in social activity. While it’s important to socialize, it’s equally important to be able to say “no” and give yourself time to relax and recharge, whether it’s at home or by taking yourself on a nice day out.

It might seem intimidating if you haven’t traveled solo before, but there are some great benefits to it making it worth you giving it a try.