How Much Time Do You Give your Ecommerce Business Before You Adapt

How Much Time Do You Give your Ecommerce Business Before You Adapt

The famous American baseball player Yogi Berra once said, “It ain’t over ‘till it’s over.” This truism has found its way into the world of business and has been reinterpreted to mean that even when things get tough, it’s not over until you’ve tried everything.

If your enterprise e-commerce site is suffering from insufficient sales, you may want to rethink your strategy. But how do you know when things have finally hit an impasse? Is it possible to change things too soon?

This is an interesting question. On one hand, you want to be agile and productive; but on the other hand, hasty decisions could bury what otherwise may have been a successful venture. Below we will discuss some of the important factors leading up to this decision and what you can do to ensure a smooth transition.

Cosmetic Changes

If your e-commerce store is struggling, you might want to examine your website through the eyes of your customers. Something as simple as a clunky and cumbersome user interface could sink your sales.Take advantage of A/B testing to see features are working and which ones are holding you back.

Remember that consumers love a clean website design. Don’t try to overcrowd your homepage with flashy sales, new product offers and distracting banner advertisements. At most, you should display just one featured product or special offering on your page. And ensure that your search bar, FAQ section, ‘about us’ and contact pages are simple to find as these are vital to the success of your e-commerce site.

Marketing Makeover

If your company is starving for sales, it might behoove you to revamp your marketing strategy. Are you taking advantage of email newsletters, on-page blog posts, SEO conversions or social media marketing? If the answer is no, you are probably missing out on large audiences of interested shoppers.

While it isn’t necessary to use all these, your business should at least be employing one or two of techniques listed here. Use social media to establish two-way conversations with your customers and encourage them to share your offers with friends and family. Entice one-time buyers to regularly check out your site for new sales and offerings with an email campaign. It might take a little practice to find the right balance, but in the end, you’ll be happy with the results.

The New You

Sometimes it’s not what you are selling, but how you are selling it. An often quoted mantra in the world of marketing is that you should be selling ‘ideas, not products.’ For example, there is a lot of competition out there when selling jewelry, but if your business sells “posh accessories for the modern woman” you might have a better chance at building a dedicated fan base or finding a specific niche.

Developing a brand identity will require a little experimentation, but do your best to incorporate the same feel in all your products and promotions.

Hitting the Reset Button

However, if none of the above methods have improved your sales, it might be time to rethink your business model. Maybe the products you are selling just aren’t appealing enough to online shoppers. In this case, it is time to hit the reset button and start over.

Some enterprise e-commerce platform providers, like Shopify, make it easy to rebuild an e-store using a straightforward template. Others might prefer to build an entirely new website before closing the previous one. It’s really up to you and your business needs.

While no one likes having to rebuild the wheel, a fresh start might be just what you need. Be sure to employ the same technique above from the get-go to put your e-commerce site on the right track.

5 Tips to Help You Start Your Own Business with only $250

5 Tips to Help You Start Your Own Business with only $250

“Chase the vision, not the money, the money will end up following you.” —Tony Hsieh, Zappos CEO

Are you perhaps considering the option of launching your own start-up? Does the thought of working in a 9-5 job make you want to stay in bed and not get up in the morning? You might be in a position where you cannot find a full-time position, or you might be a stay-at-home parent with a couple of hours per day free each day.

It doesn’t matter what your reasons for opening your own business, what is important is that you would like to start your own business. Apropos to this, the rise of the world wide web as well as the ease in which the global denizen is now able to access the internet, has and continues to make a case for pursuing an online career.

5 Tips to Help You Start Your Own Business with only $250

Launching your startup

Once you have decided to open your own business, the next important step is to decide how you are going to earn an income, and where you are going to operate your business from. Because the assumption is that you only have limited startup funding,  I believe it makes sound financial sense to start an online business of sorts from your home office. Furthermore, in my opinion, the best business to start is a company that invests in one or more of the global financial markets.

How do you go about launching a stock market investment company? As with all startups, it is important to plan your business in intimate detail; consequently, here are several tips to help you launch your financial market investment startup:

Don’t overthink thing; just start

It’s important not to spend a long time pondering about whether you should start your own business. In my opinion, you should find a starting point and just start. You can think your ideas to death and nothing will ever happen; therefore, the idea is to begin working on your startup as soon as possible.

Business plans and business models

As part of the start-up process, it’s vital to draw up a sound business plan as well as a working business model. These documents cannot be static in nature; however, they need to provide a strong foundation for your business. In other words, they are designed to guide you in the face of changing economic and market conditions.

There are many reasons why every business plan and model needs to keep on changing as time goes by; however, one of the most important grounds for a financial market investment startup business model to change is every-changing, volatile geopolitical and socio-economic conditions under which we currently reside.

Education and Research

In order to invest successfully in the global financial markets, it’s vital to find the right online trading broker to partner with. As with all niches, the rise of the information age and the ease with which people can now access the internet, have allowed for many fly-by-night brokers to open their doors for business. Thus, it is critical that you conduct a comprehensive review of all of the current online trading brokerage firms before you decide which online trading broker you are going to sign up with.

Once you have decided on a trading partner, the next step is to open an account, pay the minimum deposit, and then to work through the broker’s education center to ensure that you understand fully how to go about placing successful trades. Your broker should have a demo trading platform that will allow you to practice investing in your chosen financial markets before you progress to the live trading platform.

Trading strategies

Much is being made of the current financial market volatility; as a result, one of the most important ways of overcoming the instability in the market is to stick to your trading strategy no matter what happens to the global financial markets. Don’t change your mind halfway through a trade; otherwise, you risk losing your entire investment.

Final words

Starting an online options trading business has never been easier. You don’t even need large sums of money to start trading on the global financial markets. Conversely, you need the following: a solid understanding of how to invest in options successfully, a trading strategy which suits the current, volatile market conditions, and finally, an investment partner (broker) who you can trust to give you sound trading and financial advice.

The Right Way to Start a Business

The Right Way to Start a Business

Yes, there is a right way and a wrong way to start a business. This can be easily determined by looking at the ventures that have succeeded and ones that have failed. Due to the way that industries are now structured, it is easier than ever for individuals to launch their own company. This is why small businesses and startups are quite so prolific. At the same time, a majority of these schemes fail within a relatively short period of time. It is a startlingly low number that actually manages to stay afloat let along go on to be successful. To be a part of this exclusive group, there are a few secrets that you need to know first:

The Right Way to Start a Business

Don’t Believe the Hype

Magazines are littered with success stories of entrepreneurs who suddenly quit their job and ventured out on their own. Fast forward to several years later and you are looking at a content, prosperous millionaire. The reason that such accounts are newsworthy is because they happen so rarely. If you really want to start your own business, the last thing that you should do is quit your job. Instead, while you are earning a stable paycheck, make a point to save every last penny that you make. The longer that you can do this for, the better of you will be. This will help you to avoid the inevitable pitfall that most small businesses face – running out of money.

Don’t Quit Your Day Job

In the same vein, you will actually find it a lot better to work on your own business while still maintaining your regular job. Most people prefer not to do this as it means an incredible amount of hard work. You will spend most of your days working around the clock. The advantage of this method, however, is that you are giving yourself a safety net. Business ideas, plans, and investors do not materialize overnight. All of this takes time so you can’t really afford to give up your career while you are waiting for things to fall into place.

Make Sure Your “Good Idea” Has a Place

A common misconception is that a good idea equals profit and success. The unfortunate truth is people have good ideas every day. The real test is to determine whether they hold water in the real world. This means determining whether or not your product or service is actually something that people want. The more widespread a need is, the more likely that your idea will be profitable. Therefore, the first thing that you will need to do is to identify this need. Now, avoid only consulting with friends, families, and colleagues on this point. This information is too biased and the sample size is too small. Try to find a way to survey large and diverse groups of people. This will give you a better idea of whether you have a genuine shot at success.

Learn as Much as You Can Before You Start

If you don’t have a formal education in business or if this is your first venture, there is a lot of danger in simply figuring it out as you go along. This puts you at greater risk for falling into common pitfalls. While it may seem tedious, try to attend classes or seminars to discover how you should go about starting your business. This will be quite useful, especially when it comes to the legalities that you will need to abide by. If this is still not an option for you, try to find a mentor or a business partner that has done this all before. They will be able to set you on the right path. Make a point to learn as much as you possibly can from them.

Now, there is no foolproof way for starting a business and you will always be faced with obstacles and challenges at every turn. Nonetheless, having the right foundation will make all the difference and turn the tide in your favor.

Online Businesses You can Start with just 1000$

Online Businesses You can Start with just 1000$

You have an idea. You think of starting your own business. But you are under-confident about your plan. You do not have proper funding. So you kill your dream and welcome yourself back to reality and concentrate on your midterms.

If you are interested in starting your own business, then there are many ways through which you can achieve this. You need to research properly to find a small business idea that you are passionate about.

Let us provide you with some ideas which will help you start your own business.

Online Businesses You can Start with just 1000$

  • Start a Blog
    People who have a creative hand in writing, you can probably take your blogging activity to a whole new level. Blogging is a lifestyle-friendly business, work from home, write about your interests and share your creativity with the world. The first step being marketing and making your blog popular. Have attractive titles, use pictures, select a nice theme and write attention-grabbing headlines and content. These are the basics. How do you really establish your blog? Setup a WordPress on your blog. Install a Google Analytics Tracking to your site (Search Engine Optimization). Now, who doesn’t want to rank higher and come up on the first page of the Google search page? You can even monetize your site through affiliate marketing, i.e., by advertisements of affiliate products on your site. The most important way to publicize your site is through these social media networking sites like Facebook, Instagram, and Pinterest.
    All the best and happy blogging!
  • Buy wholesale merchandise and resell it online
    You can buy merchandise from wholesale retailers or in bulk at large discount rates and sell them individually. Reselling these products by piece online at e-commerce sites like Flipkart, eBay and Amazon can fetch you good amounts of profits. Setting up an eBay store or Amazon page is inexpensive. They charge you a minimal fee for listing the item to be put on sale and a small percentage on the final selling price.
  • Start an eLearning Business
    The main aim is to develop courses your audience will be interested in: analyzing your audience, choosing content relevant to their age and subject, keeping a close track on the latest developments in that field, using multimedia sources like animations and videos, adding assignments and HOTs questions. You can later choose yourself a Learning Management System that delivers, manages and tracks results and generates reports for online courses that can be hosted on local servers.
  • Start a Public Relations Business
    What do public relations professionals basically do? They work with the media group to get their clients’ stories in the news, coming up with new angles to show their clients’ story in an attractive manner. The skills you need- top-notch writing skills, with a sharp, creative edge for catchy press releases and stories for the magazines and newspapers. The needed equipments include a computer system, a color printer, a scanner, a fax machine, and some media contacts to start with.

Start a Consulting Business
A consultant’s job is to provide expertise in a particular field as an advisor. You may need special licensing or certification before you start operating as a consultant and some networking to build your contacts.

 

5 Ways to Protect Your Startup in it’s First Year

Protect Your Startup in it's First Year

Startups and small businesses might discount their exposure to cyber liability issues because they do not have the depth and volume of information that is maintained by larger and more established companies. Verizon’s 2013 Data Breach Investigation report, however, contradicts this perception. A key finding in that report indicates that almost two-thirds of all data breach attacks are aimed at small businesses.

For a variety of reasons, almost 90% of all startup businesses fail within their first year. A startup can control many of the causes of failure, including procuring cyber risks insurance to protect against financial losses associated with a data breach attack. Startups can enact other policies and procedures to ward off a business failure, including:

5 Ways to Protect Your Startup in it’s First Year

  1. Establish guidelines for data sharing between personal and business devices that employees use to access the startup’s network.

A startup should carefully monitor and control its data security and encryption practices when it allows employees to use their own personal devices to connect to the company’s network. Those devices can pose a significant cyber attack risk, even to larger companies that have established robust data security procedures.

  1. Enforce effective data and privacy practices.

Data and privacy practices are an extension of personal device guidelines. Startups need to regularly monitor and analyze unusual data events, control applications and email, watch for inconsistencies in cloud data storage and web applications, and protect against malware incursions. Cash-starved startups might place a low priority on these tasks, but data or privacy losses can cost far in the long run and can be the primary contributor to a startup’s failure.

  1. Perform penetration tests.

Startups that do not have the resources to devote toward elaborate cyber security measures can perform regular penetration tests to simulate potential cyber attacks and to identify weaknesses in their networks. Penetration test components might include launching a series of phishing emails to determine how much information would be divulged by careless employees, or infecting networks with malware replicants to determine whether the networks would free up confidential data or other information in response to malicious code. A number of third parties offer relatively low-cost network penetration testing services.

  1. Create a data breach response plan.

A common axiom for all startups is to hope for the best but prepare for the worst. That preparation should include a data breach response plan that the startup can implement immediately upon detecting an unauthorized incursion into its network. A good plan will revolve around three priorities: understanding the startup’s data breach risk factors; assessing the type of information that the startup collects, uses, stores, and transmits; and developing the best incident response plan that incorporates those first two priorities. With respect to the first priority, a startup’s risk factors will typically involve its people, processes, and technology. Its information can run the gamut from superficial employee, customer, or vendor data, to detailed personal or medical files. Lastly, a good incident response plan will establish procedures to determine the data breach source, to assess the scope of the damage, to formulate response and protection plans going forward, and to resolve problems that arise with victims of the breach.

  1. Invest in Cyber Risk Insurance

No amount of controls can provide absolute protection against data losses and breaches of a startup’s networks. A startup that is the victim of a successful cyber attack will likely lose its clients, expose itself to ruinous lawsuits, and be faced with the embarrassing reality of having to communicate the situation with hard-won vendors and customers who placed their trust and faith in the startup. Insurance will not rebuild these relationships, but it will give the startup a financial safety net that it can use to begin the process of re-establishing itself as a trustworthy business partner.

Franchising An Online Business

A survey really successful businesses in town can have that these are franchised businesses. Shows the company may perhaps be market tested, developed and handed toward owners or franchise holders quite silver platter.

Franchising might be a business concept and strategy which have been practiced by basically with the successful businessmen in this world. What separates these businessmen over ordinary mortals will probably be way they even can recognize a service that’s a hit with all the masses. [Read more…]