When you are running an e-commerce store, how do you measure your success?
New companies often face unique challenges. Specific strategies, such as identifying product strengths, adjusting pricing, or acquiring another business, have historically been used to get a small enterprise off the ground. Understanding these business strategies, and skilfully implementing them, can help entrepreneurs achieve success.
Global organisations downsize for a whole raft of reasons, and not always disconnected from the demands of shareholders. But at the SME level it’s often a financial necessity for keeping the business or department afloat. That said, it also comes with a number of sometimes unforeseen downsides that can be exacerbated by a poorly planned downsizing strategy.
To compete for the attention of today’s customer, you need to be selling far more than just a product, especially when you have so many other brands, products, and services to compete with. In-order to attain and keep this attention, brands must be creative and sell far more than a product an experience.
No matter your budget, there are always ways to increase sales and grow your business. But one of the trickiest aspects is increasing your sales when your budget is tight. Whatever the reasons are, it could be challenging to increase sales while keeping your marketing and advertising dollars under control.
The word “inventory” is something that any start-up entrepreneur hates hearing. It is by far one of the least glamorous aspects of running your business, however, at the same time, it is one of the most important. Inventory management involves lots and lots of counting, writing and searching around for things that have somehow gone missing.
Technological advances, customer expectations and especially globalization have increased the need for higher productivity. After all, most entrepreneurs must now compete with companies in countries such as China and India where labour costs are a fraction of what they are in North America and Europe.
Inventory management, it is a word hated by most operators of eCommerce stores and is by far the leading cause of headaches. If you mess it up and don’t do it properly, you can lose a whole lot of money, especially when you have products that are seasonal, can expire or are otherwise time-sensitive.