What to Expect on Your First Year of Online Business
BUSINESS TIPS | May 26, 2021
The internet has revolutionized how we, as a society, live our lives. From transportation to communication, this marvelous advancement in technology made the world smaller and more accessible. This statement rings truest when it comes to retail and commerce.
Like the internet, eCommerce has shifted consumer behaviors in a rather drastic way. People now have access to products that weren’t available to them mere years ago. Consumers are able to vet merchandise and shop without having to leave the house.
eCommerce is the wave of the future. However, as far as owning an online store is concerned, the struggles of an eCommerce operation during its first year aren’t all that different from the issues brick-and-mortar stores face.
As they say, knowing the enemy is half the battle won. Below are a few realities to expect during the first year of your online business:
It Will Be Stressful
Launching a new business is stressful. Even before the official opening day, there are plenty of things that can fall through the cracks. More than the tasks, feeling anxious about the success of your online store can be debilitating. It is unpleasant to think about whether or not customers would visit the eCommerce website you labored on.
Worrying is a reality especially during the first year of your online business. A good way to cope with the stress is to create checklists that can help you stay on track.
Expect to Do a Little Bit of Everything
Most eCommerce businesses start small with the owner at the helm of everything. During the first year, expect to do a little bit of everything for your store.
You have to be mindful of the aspects of your business you are willing to outsource. It is best to hinge on the things you know you are well-adept to and outsource the aspects of your business you are uneasy about. In eCommerce, your website plays a big role in attracting new customers and building brand loyalty. If you aren’t well-versed in coding, web design, and branding, it is best to leave it to the pros.
There Will Be Unhappy Customers
Despite your diligence, not all customers would be pleased with the kind of products and customer service that you provide. Even before your grand launch, deliberate on how you intend to handle complaints, bad reviews, and returns. Create a written policy and enforce this policy amongst your small operation.
The First Year is All About Shaping The Future of Your Business
Surviving your first year is tough. Most of the statistics are stacked against your favor. Nevertheless, each difficulty is an opportunity to shape your business into the powerhouse you see it becoming. The first year is the time to learn and absorb as much of the eCommerce world as you can. You can make mistakes, you just have to learn from them.
When it comes to running an eCommerce operation, it is important to remember that it is more about the journey than the destination. It is a marathon and not a sprint. Every new year is a chance to grow and improve upon the last. At the end of the day, surviving the first year of business is already a feat; things are only poised to get better through experience.
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