Bettering oneself has been one of the most popular topics of advice for centuries, if not all of humankind. It’s one of the reasons we’ve evolved to be such sophisticated creatures, that never-ending desire to always perform at a higher level than the day before. For some, this trait is an inherent part of their personality but for others, it’s a skill that needs to be learned. If you fall into the latter category, RepricerExpress has sifted through all the junk out there and distilled it into seven tips on transforming yourself into a successful ecommerce business merchant.
1. Spend Less Than You Earn
It’s one of the most basic business rules out there: operate in the black, not the red. And yet, why do so many merchants conduct business as though this philosophy doesn’t exist? To be moving forward, revenue has to exceed costs so you’re left with that tidy little bubble called profit.
2. Calculate What Your Return on Investment Should Be
Sure, you can operate your business with just a handful of coins in your wallet, but what consumer in their right mind would pick a street lemonade stand over a slickly-run professional business? You’re going to have to spend money to make money and the only question is, Are you spending it efficiently? Figure out the kind of growth you want and what you need to spend to get there, and then don’t swallow too hard about forking over the cash.
3. Have a Map of Short- and Long-Term Goals
Being a successful ecommerce business merchant means having the ability to balance the past, present and future equally; to do that, you’ll need to compile a list of short- and long-term goals to get you there. Identify what you want to accomplish on a day-to-day or month-to-month schedule, as well as yearly or biyearly. Having your goals written out in black and white means you’re always thinking of them.
4. Be Flexible Enough to Deviate From the Plan
Jumping off the previous point, it’s good to have goals but you don’t want to stick with them so rigidly, you might end up missing out on an opportunity that drops itself in your lap. If it’s suddenly raining little gold nuggets from the sky, be malleable enough to break away from your plans and take a little detour. Just make sure to keep your eye on the end goal and rework your route so you end up at your destination.
5. Be As Honest As Possible
It’s like Abraham Lincoln once said: ‘You can fool all the people some of the time and some of the people all the time, but you cannot fool all the people all the time.’ Earning the trust and respect of your buyers is something that’s build on a foundation of honesty and transparency and really, it’ll work out better for you in the long run if you just stick to telling the truth. If an order is late, don’t tell them it’s because a herd of stampeding elephants got in the way. Your buyers are too smart for that and they won’t appreciate being bs-ed.
6. Check In With Your Consumers to Get Feedback
Rare is the person who can exist in a vacuum and be able to self-monitor themselves to success. Most of us need to live in a world of checks and balances where we’re regularly given feedback on our performance. Your buyers have plenty of opinions on how you’re doing, so reach out to them and ask — and then use what they say to improve.
Find the Positive In Every Negative
We don’t mean for you to go all Pollyanna on your business, but rather to see how you can twist a lousy situation into something more beneficial. After all, to paraphrase the saying, There are always three versions of what happened: the positive way, the negative way, and the actual way. Which one are you going to choose? Even if it’s something like a scathing customer review, use that to examine yourself and what you need to improve on to make it to the next level. The second you stop learning in life is the second life’s over.
RepricerExpress knows it’s not easy to take an objective look at yourself, identify the areas that need changing, and then go out there and do it. But while you’re focused on becoming an even more successful ecommerce business merchant, we want to give you something that’ll make your life easier: a free taste of our repricing software. When you sign up today for your 15-day free trial, you’ll have one less are to focus on when it comes to becoming more successful.
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