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Selling on line – Science, Hard work or Creativity?

There are those who suggest that running an online store is a precision science that requires just the right mixture of science, hard work and Creativity to sell online.  The magif formula of A plus B plus C, to create the energy and momentum needed to produce a volcanic sales eruption.

Others claim that all you need to make money online is a spark of creativity and good old-fashioned long hours and hard work.

The bottom line is that for anyone who has never run an online store previously all of these may be the answer. However for those who have sweated it out over the years they know that successful online selling is definitely a combination of science, hard work and creativity.

So whether you’re a start-up or a seasoned pioneer you should consider and re-evaluate these five crucial factors from time to time.

How is your product different?

How can you differentiate yourself from any other retailers selling similar products online? Do you get into a pricing battle? What else about your brand, experience, offering, returns policy etc. might compel someone to buy your products? The internet is a big place and if you don’t position yourself in a unique way you may get lost in a sea of search results.

For example your organic dog food may be appealing to people who only feed their dogs organic dog food but you should be aware of how difficult and expensive it is to go after the niche market of people who share your passion. Great noble mission but is it worthy of all of your life savings and a handful of happy customers!

What is your business strategy? 

It never ceases to amaze me how many people will spend money on platforms, marketing and inventory without first determining a clear business strategy for each part of their business. How did you determine the price of your product? How are you different from your competition? How will you attract new customers and retain existing ones? What platforms/tools can you afford now, but will allow you room to grow? How can you leverage variable cost solutions to scale your business and how will you sustain your growth?

These are just some of the questions that need to be answered and based on this you can build a business plan around them and be prepared to attack the market. Once you have real-life results to prove or disprove portions of your business plan, you can re-adjust pieces of your formula until you see positive results.

Do you have the budget?

If you don’t have a realistic budget for the start-up and growth phases, the world will most likely never have the pleasure of buying what you are selling. To hit your competitive price point for the product you are selling, you must sometimes buy your inventory in bulk to drive down costs. This probably means longer delivery times, higher shipping costs and larger storage requirements.

Also will that cheap e-commerce platform you’re using give you the tools needed to really drive sales? Will there be any money left over to do the hard work of driving traffic?

So, after your business plan is in place, expect to double your budget immediately, and then have a plan for how to access more capital when needed.

Does your product suck? 

I cannot tell you how many people I meet who tell me that they don’t know why their sales are so low and all I can think of is “Hasn’t anyone who loves you told you this is a terrible product in the first place?” I occasionally have stock on hand that’s been bought in bulk, paid for in full and flown half way around the world to sit in a warehouse untouched for six months.

Yes, the Internet is a wide-open playground where ‘strange people ‘ can find ‘strange products” that still results in sales and income,  but before you spend your money on inventory and digital marketing, you need to spend money researching and determining where and whether a market for your proposed product exists. If it does, you need to determine what type of volume your product might generate, where you plan to sell them and who your competitors will be.

How much do you love to sleep?

It is not necessarily easier running an online store than it is going into your 9-to-5 job every day. I applaud the effort it will take to make it work, particularly if you are planning on doing all of it yourself.

But all of the planning and preparation to get the site up is one thing. Then you must have a plan for product sourcing, marketing, customer service, processing and fulfilling orders. And, yes, customers will get mad and expect answers when that isn’t convenient for you. You need to make sure that you factor in the costs of hiring staff, finding space that will help to grow and manage your business. You need to understand that working in your business isn’t the same as working on your business and realise that in order to have a successful business you must do both.

Sometimes, accidentally adding too much of ‘A’  such as fixed overheads results in spectacular downfalls and sometimes that strange product that you successfully sourced becomes the next big craze. These scenarios are the exception and not the norm so it’s important that you are realistic and research the best options available to you in order to execute your business plan.

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Feel free to call us on + 353 (0)51 379 755 if you'd like to ask us about our services.

We are specialists in luxury, fair trade, ethical and premium value products.  Our customised services are designed to reduce costs, increase productivity and improve your customers experience . Our team brings your brand to life.

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Global Fulfilment services

Eurobase is an e-fulfilment service business that enables ecommerce companies to deliver fast, cost effective and personalised order fulfilment to customers in Europe, while ensuring EU tax, VAT and regulatory compliance.

Our e-fulfilment service enables your e-commerce business to reduce  logistics costs and delivery lead times through batch warehousing and distribution to your sales channel partners and customers. We integrate with your order processing systems, manage your European stock levels and provide localised customer support to deliver a seamless service to your customers.

eurobase ecommerce fulfillment in europe favicon

Global Fulfilment services

Eurobase is an e-fulfilment service business that enables ecommerce companies to deliver fast, cost effective and personalised order fulfilment to customers in Europe, while ensuring EU tax, VAT and regulatory compliance.

Our e-fulfilment service enables your e-commerce business to reduce  logistics costs and delivery lead times through batch warehousing and distribution to your sales channel partners and customers. We integrate with your order processing systems, manage your European stock levels and provide localised customer support to deliver a seamless service to your customers.

Your STRATEGIC SUPPLY CHAIN, ORDER FULFILMENT PARTNER

Your STRATEGIC SUPPLY CHAIN, ORDER FULFILMENT PARTNER

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We should talk!

WE SHIP THOUSANDS OF ORDERS PER WEEK TO CONSUMERS AND BUSINESSES THROUGHOUT THE UK AND EUROPE SO IF YOU’RE LOOKING FOR A STRATEGIC OPERATIONAL PARTNER THAT WILL HELP YOU GROW, FULFIL ORDERS, AND BUILD YOUR BRAND – WE SHOULD TALK.

eurobase ecommerce fulfillment in europe favicon

We should talk!

WE SHIP THOUSANDS OF ORDERS PER WEEK TO CONSUMERS AND BUSINESSES THROUGHOUT THE UK AND EUROPE SO IF YOU’RE LOOKING FOR A STRATEGIC OPERATIONAL PARTNER THAT WILL HELP YOU GROW, FULFIL ORDERS, AND BUILD YOUR BRAND – WE SHOULD TALK.

Eurobase Fulfilment and Reverse Logistics in Europe

YOUR PARTNER IN EUROPE

Eurobase House, Unit 312, IDA Industrial Estate, Cork Rd., Waterford, Ireland, X91 EHSN

Tel:  + 353 (0)51 379 755   Email:  info@euro-base.com

Eurobase House, Unit 312, IDA Industrial Estate, Cork Rd., Waterford, Ireland, X91 EHSN

Tel:  + 353 (0)51 379 755   

Email:  info@euro-base.com