With a global audience and a wealth of opportunity, entrepreneurs looking to build a business will focus on becoming an eCommerce entrepreneur.
Online businesses are attractive due to the potential to start with a low budget, run your operations remotely and reach targeted audiences around the world. Although, becoming a motivated eCommerce entrepreneur can be easier said than done.
Developing positive habits is essential if you expect to be better than the competition. You will be competing with enterprises of all sizes operating in most markets. Focusing on the following habits can separate you from the rest, allowing your business to grow and thrive.'Your habits will determine your success.' Jack CanfieldClick To Tweet
Be More Productive By Using Systems
As an eCommerce entrepreneur, productivity can become an issue. The best entrepreneurs are typically self-starters, willing to begin projects without procrastinating. You may not always see results at the beginning of a new venture, so you need to be willing to invest your time for the long-term rewards.
You can work with a system like the Pomodoro Technique, using 25 minute slots of time for intense work. Additionally, it is worth getting a project management tool like Basecamp or Asana for working in teams and ensuring projects are completed on time.
Focus on Measurable Goals, Smart Goals
Goal setting is integral to the success of an eCommerce business. Without goal tracking, your success is impossible and you can easily get off course. In order to be effective, the goals you set need to be specific, measurable, actionable, realistic and timely. Here is an article on how to set smart goals. Once you have decided on your goals, continue to track and analyze the results.
Vague success goals will not create accountability making it difficult to plot a clear path forward. Depending on your business needs, you can set goals based on revenue, customer acquisition, social media followers, website visitors and related factors.
Look for Ways to Increase Income Per Sale
It is common for eCommerce entrepreneurs to focus on acquiring new customers. They may put all of their energy in to driving traffic to an offer or converting a sale. This is normally at the heart of a new business. However, you can grow a business quickly by increasing the income per sale.
Selling one video or service is great, however, selling a related course or series of sessions is even better. With Yondo, you can easily switch from a single video sale to a course of services or videos. The more time a customer is engaged with your business, the stronger the loyalty. The goal will be to continue to find new customers but you can spend more time acquiring them when you have greater revenue from the subsequent sale.
Delegate Tasks That Are A Struggle
Most eCommerce entrepreneurs have an area of expertise. It is rare for someone to have skills in all areas of running a business. An important habit to create is to get comfortable with delegating responsibility. It takes a certain knowledge as a business owner to know when someone else can do a better job at certain tasks.
Whether you have a team of employees or you outsource the work, there are many skilled individuals who can perform tasks quickly and effectively. Many entrepreneurs are perfectionists, but delegation is vital if you hope to scale up your operations.
Automate Repetitive Tasks
You will also find many tasks within your business repeated frequently. For an eCommerce entrepreneur, simple tasks can take up a great deal of time. Logging into accounts, checking stats across various platforms or following up with emails to clients in different stages of the sales cycle will need to be done.
The time taken on these tasks will add up. A surprising amount of your day can be eaten up on minor duties. If a task is basic and repetitive, it can almost certainly be automated or streamlined. In today’s world of technology, there are many way to automate repetitive tasks. For example, Mailchimp can help you create an email campaign to streamline your client communication. Creating automation can free up time for you to focus on more productive areas of the business.
Remove Yourself from the Business
A constant problem for an eCommerce entrepreneur is the need to be present within operations at all times. Building a business will require a lot of effort, but it is wise to step away from things at times.
Make it a habit to have distractions that take your mind off work. It’s necessary to allow yourself the chance to unwind and recharge your batteries. While putting in the hours may seem like the best option, you can gradually burn yourself out and lose perspective of your business.
Become Comfortable with Failure
Getting comfortable with failure might sound strange when you are trying to build a successful business. However, it is inevitable that you will experience failures in the process of reaching your goals.
These failures might be small. Such as, an ad campaign that doesn’t become profitable. You could also experience bigger failures such as a product line that doesn’t have enough demand. A good habit is to not get too attached to any particular concept or aspect of your business. It’s a good idea to take an analytical approach to your operations and be flexible to change if needed. Failure can be a good sign to make adjustments to the plan.
There are always opportunities for eCommerce entrepreneurs to generate income. However, limited numbers will achieve great success. Developing useful habits that allow you to thrive is one of the best ways to ensure you reach the goals you have set for yourself. There are many factors that will play a part in your success. They can include employing good staff, selling desirable products or services and crafting marketing plans that resonate. However, start with your habits and everything else will fall in to place.