5 Quick Tips for Your New Online Business
1. Brainstorm & Seek
Think about what consumers are looking for and actually buying. It’s good to follow the trend, but know that it’s always better to be ahead of the trend. (Easier said than done.)
Being in the trend quickly is a smart move, but remember to calculate and research how long this trend will last.
Spend a good chunk of time researching, collection and going over data. (First, find ways to collect date. Article coming soon!)
If there’s competition, seek what stands out about your product or service.
2. Detailed and Systematic Plan
Plan for setbacks. Why? Because anything can happen so it’s better to expect it to happen. Have a Plan B, C, D, and maybe all the way to Z.
Example. We’ve seen orders back ordered so companies may offer special discounts.
3. Budget Wisely, Seriously
Overestimate costs. It allows for more room, more flexibility when you have to deal with issues. Like number two, financial components also involve having backup plans and financial room.
Find perks for having a business. Find ways to save or to receive rewards for your business. Doesn’t hurt to ask (for discounts).
4. Aim for Improvement – Always have a Target
Set goals, short-term and long-term. We’ve seen a few clients who don’t set business goals and sort of “go with the flow,” which isn’t always bad, but thinking about methods to improve may lead to increase in ROI, marketing results, etc. Always come up with things to improve on. Get feedback from customers/clients, colleagues, team members, etc.
Surround yourself with “smart” people. What’s the definition of “smart?” We don’t know. You decide as a business owner, but we hope that you, as a business owner, have the knowledge to know who to hire as a team member or employee. Book smart or street smart, or all of the above.
We state this because, most of the time, it can be likely to grow your business if you have a strong team.