Taking Your Ecommerce Business to the Next Level
07/04/2017 | Share:
Firstly, in order to take your ecommerce business to the next level, you need to decide what next level actually means to you. It could be moving your base of operations from your home to a commercial premises, taking on extra staff or even looking to exit. So with those scenarios in mind, lets take a look at a few ways you could take your ecommerce business to the next level.
Your business needs more room to grow
Due to the never ending flow of boxes, paperwork, and delivery vans. Running your ecommerce business from home can be a lot for you, your family and your neighbours to deal with. So if you are looking for more room, here are a couple of options for you to consider…
Work from a smart office and use the services of an order fulfilment company like us! We’ll take care of things for you and you won’t have to worry about the costs associated with renting a large industrial unit including business rates, company insurance and utility costs. Plus from our convenient and cost effective Northern base, we’ll pack your customer’s products in the same way you would and track everything for you too!
However if you’ve got your heart set on moving to a large commercial unit because the price looks good, here are few things for you to consider…
Can you reach the property by local transport including rail travel? As your company grows not all of your employees will drive and may even take hybrid journeys, for example cycling to a train station, riding the train and then cycling to the building.
Is the building being offered at good price because of any environmental issues you need to consider, like when was the last time it flooded? Plus in the cold winter months how likely are you to see a gritter or will the outside space become a skating rink?
Is there ample free parking? You might be happy with one designated space, but a lack of free parking can add considerable costs to an employees commute.
Will staff want to work there and more importantly want to keep working there? Does the building have suitable kitchen facilities, is there somewhere to sit down and eat lunch or is there just one pokey sandwich shop near by?
Finally you should sleep on your decision before going ahead, as the majority of entrepreneurs don’t make any long term property deals without allowing their unconscious mind to process it first.
You’re looking to employ more people
It’s easy to double your workforce, when you’re the only one that works there. So here are a couple of things to consider when looking to increase your team.
Provided you’re willing to invest the time and training, a good fit and enthusiasm is cheaper than experience.
Your employees will never love your business like you do, but that does not mean they can’t take care of your baby. So learn to let go a little in quieter periods and have a key member of your team handle the reigns (under your supervision of course). This way you’ll be able to take a well deserved holiday and get the opportunity to relax.
Are you looking to exit?
Maybe your circumstances have changed or your ecommerce business is not providing the lifestyle you expected or it’s really taken off and you appreciate you are not the person to lead it forward. Your ecommerce business will have value, with the general rule of thumb being around 4 times annual profit for a well run ecommerce business with loyal customer base. So if you are thinking of exiting, consider approaching your main competitor, you know, the one who considers you a thorn in their side.
Alternatively your exit strategy could be to build up your business in order to annoy your competitor by targeting their customer base via some strategic marketing and wait for them to approach you. You might be surprised what they are prepared to offer.
So there you have it, by understanding what next level means to you and your ecommerce business, you’ll be able to drive your company in the right direction for you.
