So you are in the early stages of your new online store, you know your market and are beginning to advertise, and evolve. But how do you know that your business will scale well once you gain momentum?
If you’re focusing on the customers, then obviously this is important, but it’s also important to how you setup your business for scalability. If you alter your focus in this way, you’ll be able to delegate or outsource tasks which will enable you to move away from operating daily tasks. And by implementing processes, procedures and efficiencies within the business, you’ll put yourself and business in the best position to scale well.
Set your Processes
Firstly focus on looking at all the processes you currently do and write down how you do them.
These could be anywhere from finding new products, marketing, to inventory replenishment and customer service processes. Looking at how you currently operate,think about what you currently do and ways in which you could make it better. Implement any changes to these and update your processes accordingly.
Understand the Procedures
Within your process, you’ll need to understand all the different permutations of how process would need to change based upon needs of customers, market changes and supply-chain issues etc. You’ll again find ways in which you could service customers and again look at getting your procedures working even tighter.
So you’ve implemented efficiencies throughout your processes and procedures, but there are still additional gains to be made through other areas of the business as time may be very limited too. If you get some dedicated resources to fulfil your outlined processes and procedures in the form of Virtual Assistants or employees, you’ll instantly get a time boost for yourself to move to bigger and more important tasks.
Other efficiencies could be gained through automating processes which you currently implement manually such as sending an email campaign to a small group of customers and so you could setup a list, set dates for these to automatically send out, so you’re not tied to the desk for certain times of the day either.
Working and making money online involves managing and maintaining your transactions as they’ll be the reason why your business continues into the future. Get an experienced e-commerce accountant who understands your type of business and is able to create the best workflow for the business finances. The time and money saved here will have a big compound effect in savings throughout your business moving forward and will result in cost-savings multiples as your business is able to scale at any pace required for the future. By implementing many of these and other ideas, you can work towards a bigger and better online store.
The best time to start is now.