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This Is Why Everyone Is Going For E-commerce Business

This Is Why Everyone Is Going For E-commerce Business

In the past, if you wanted to start a dot-com company, investors would shy away from you. They assumed you would fail. In the early days of the Internet, many dot-com companies did just that. They spiked with great sales in the beginning then promptly nose-dived and are no longer in business. Today, however, the exact opposite is happening. If you aren’t online, you are doomed to fail. The companies that are based solely online are taking the world by storm and are successful. E-commerce is a subset of this trend, but it is becoming more and more common every day. Here are some reasons why small business owners embrace e-commerce.

Your Store Will Go Everywhere

If you have a brick-and-mortar shop, you have a limited number of people who can come through your store. Even if you are open 24 hours, you can’t reach as many people as you can with an E-commerce site. Also, you have global customers, but with a physical store, you only have access to customers in the local area.

Your Shoppers Will Enjoy Convenience 

If you are sales expert you know that customers want to be able to buy whatever they want with a click of the button. With an online store they don’t have to worry about whether the store is open. They don’t have to worry if they are wearing clothes or their pajamas. They can have their purchases sent directly to their doorstep.

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Your Overhead is Low

When you own a store, you have to pay employees, electric, water, rent and insurance. You don’t have any of those expenses with an E-commerce site. You have to pay for the site, logistics and possibly warehouse employees. You might also have to pay for the company that ships your goods, but these costs are considerably less than if you had a store.

Your Products Can Sell Cheaper

You can afford to lower your price, which attracts more customers. You still will make a huge profit, but the margins are lower. You would make up in volume what you lose in store sales. And, in stores, you have to mark up your prices so high because of overhead and other factors, such as theft. You don’t have to worry about theft with an E-commerce site. Online sales allow you to be creative with your specials and discounts too.

You Can Benefit From Affiliate Marketing

What if you had an E-commerce site and were asked to put some of your products on someone else’s site as well? You would rake in tremendous sales. Even with the small commission you would pay the other person, you would get twice the number of customers. And, you can offer to pick up other people’s products for your site with a small fee. You will help the other company which will help you. Everyone wins.

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Your Store Is Like A Supermarket

If you shop in a supermarket, you can buy almost everything. At stores like Target you can get everything. This means people can take their time, browse the shelves and pick what they need without ever having to go to another store. The same is true in E-commerce, but the selling space isn’t limited by the physical space of a store. You can find whatever you need on an e-commerce shopping site from clothes to automotive products. Your customers will spend more time shopping on your site, which equates to more sales.

You’ll Benefit From The Big Mobile Buying Trend

In the latest trend in E-commerce, business owners are focusing on mobile marketing because smart phones are driving sales in retail. People are using their phones to shop, tell friends about their finds and looking up reviews on products or services. This trend is assisting the growth of E-commerce’s popularity. People would rather hit a button on their phones to buy something than to drive to the store. Businesses are eating up the profits and making their sites better.

Your Shoppers Can Buy Online, Return To Store

If you take notice of customers behavior nowadays, many people enjoy having the option of buying a product online and picking it up in a store/ returning it to a store. This is all about convenience. People don’t have to wait two weeks to receive their products. And, if they don’t like it, they don’t have to worry about the merchandise return requirements.

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Your Shoppers Will Find the Unique Products They Want

If you want to buy something specific, such as an antique dinner plate, you will have more options online than at a local mall. You might not even be able find what you are looking for at a physical antique store.

You’ll Be Able To Offer Discounts and Deals 

If you own a store, you can offer a sale to draw customers to your place of business, but every other store is doing the same thing. Today, shoppers check online for discounts and deals. They search for the store with the best sale and go there.

However, remember that when you are building your E-commerce site, you want to work with companies who understand the industry as you definitely don’t want a website that will crash.

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Featured photo credit: local needs in a global e-commerce rollout via diginomica.com

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Last Updated on October 16, 2018

How to Quit Your Job That You Hate and Start Doing What You Love

How to Quit Your Job That You Hate and Start Doing What You Love

Everyone of us has a plan in our head that was taken over by family responsibilities, social pressure or sheep mentality. This made us a slave to instant gratification and started killing our plan and dreams.

There is a way to revive your plans and dreams and live a happier life. No amount of salary can exceed your desire to do something that you are really passionate about.

If you hate your job and have thought about leaving your job, here’s how to quit your job and start doing what you love:

1. Identify if you really want to quit to follow your passion

There could be many possible reasons to figure out why you are discouraged to go to work and start thinking about how to quitting your job. Figure out the reasons or signs that make you feel that you should really quit your job.

If these reasons are not related to your office environment or your ultimate goal is to pay your bills from your job, you should consider getting a new job in the same field. It’s better to be an experienced receptionist than to live a dream that is not yours.

2. Start with the side hustle and keep it going

Work after you get back home and build up your product or service enough to gain confidence to quit your job.

Build the website, write down the business plan, design your product, make marketing collaterals or do whatever it takes for you to start working full time on your new venture before quitting your current job.

You could also consider part-time working opportunities if your current job sucks a lot of your energy. This way you could save your energy and dedicate more time to your side hustle.

Ensure that you don’t quit until your new venture really demands your full time dedication. You might lose interest in your new venture if you fall short of survival money.

3. Save enough to pay your bills

If you need to pursue your passion, you need your monthly bills to be taken care of, without any worries. You must cut down on unnecessary expenses and squeeze in those extra bucks on your savings while you are at your current job. You should forget those weekend parties and social outings unless they’re meant for networking.

It makes no sense to quit your job without having any savings. Your new venture will not start paying you immediately. Starting a recurring deposit account is a good idea to start off with. Put aside a considerable amount every month as soon as you get your paycheque and forget about that money until you quit your job.

4. Write down your goals

It is important to have visual proof and a daily reminder of why you quit your job and started a new hustle.

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Write down your goals and read them at least once a week. If you are a forgetful person, create cell phone or desktop wallpapers of your goals and set them until you achieve them. Visual proof keeps you on track.

These goals are the bigger picture of what you wish to achieve in your pursuit to doing what you love.

For example, if you are wish to design the best dresses in the whole state, write it down. If you wish to fly to Mars, write it down. If you really wish to give up your career for something, it better be worth remembering everyday. Show it to yourself daily.

5. Make a plan

Write down a plan of action for the next 12 months. It’s like writing down an elaborate execution plan in your calendar. This could be a daily, weekly or monthly to-do list of your tasks to achieve your goals.

Learn how to make a plan if that’s not your area of expertise. Ensure that you know what you’re going to do next and not run like a headless chicken after two months of working for yourself.

Review the plan time and again to track your progress. This will give you a clear picture of your performance and your shortcomings.

Also, have a backup plan. Even great planners and strategists fail before achieving success. Ensure that you have a second plan if your first one does not work out as you predicted.

6. Get professional advice

Talk to experienced people in the field you want to venture out. Go to networking events and connect with people in your industry. Most people will help you out with good advice and good contacts.

Get professional courses in part time colleges. It could be great to network and the teachers can be of great help to understand more about the industry. They will help you analyse your plan and connect you to influential people.

7. Prepare yourself to put a resignation

Prepare yourself mentally to quit your job after you’ve realized the potential and prepared yourself to take a deep dive into your new profession.

Leave on a friendly note. Don’t make enemies with your bosses. These connections could help you further in your profession.

Don’t burn the bridges. It’s better to have a face-to-face conversation with your boss or reporting manager than sending a surprise mail.

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Tell them sincerely about your new venture and why it is important for you. Serve the notice period completely and work till the last day. Complete all your tasks as you would on a regular day. This will maintain your respect and keep your relationships intact.

8. Be prepared to get your hands dirty

As an entrepreneur, you have to do everything that’s needed to keep your work going.

You have to perform all the tasks needed to keep your new venture going. You have to be a janitor, an administrator, an accountant, a designer or a salesperson all at once.

There would be a point of time where you will have to perform tasks that aren’t your favourite. Be ready to perform such tasks without cringing.

9. Have no baggage

Don’t have a debt! Clear all your loans, debts and pending commitments before starting off. You want to fully concentrate on your new activity and not be bent down by loading your shoulders with any burden.

You would want to enjoy your freedom to work incessantly. No distractions whatsoever are allowed to come close to you when you are fully involved in the rhythm of development. Shun away materialism!

10. Don’t be in two minds

It’s good to analyze the best and the worst possibilities in your head, but it’s not at all good to doubt yourself.

Move ahead with confidence. It’s your life, your plan and your rules. Nothing and nobody can stop you from doing what you wish to do.

The more you start getting noticed, the more people will point fingers at you. Don’t let them affect you and create doubts in your head. As William Shakespeare said,

“Our doubts are traitors, and make us lose the good we oft might win, by fearing to attempt.”

11. Learn to handle failure

You are going to be a loser and it’s a good thing! If you fail and lose, you will learn to not repeat your mistakes and make yourself stronger with every punch you throw out.

It takes time till you start losing. The key is to not be demotivated by failure. The more the failure, the more closer you are to success.

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12. Try your hands at investing in stock market or cryptocurrency

It’s a good way to keep your side income rolling in. While you are busy building your dream project, you could invest your money in the stock market or cryptocurrency and let it grow while you sleep.

As Warren Buffet famously quoted,

“If you don’t find a way to make money while you sleep, you will work until you die.”

Find a good stock broker who has enough experience to not lose your money. Stop immediately if you are losing a lot of money. Don’t burn away your money.

13. Keep a healthy routine

It’s easy to forget about your health when you are working on something that you’re really passionate about. Set reminders about your health routine.

Exercise! Most successful people start their day early and take time out to exercise at least thrice a week. It helps you give more energy and time to your work.

Always remember that you started your new venture to be happier. Bad health will not let you enjoy your success.

Join yoga classes or learn meditation from youtube. Avoid sitting too long at one place for more than 15 minutes at a stretch, take breaks. take a walk, especially up-down the staircase as much as you can to skip age related joint pains and muscle atrophies.[1]

14. Enjoy your days off

Taking a break helps your creativity and clears your mind from clutter. You need your days off to come back afresh and take on your tasks. You can’t be working 24/7.

Remember that being able to take your days off is one of the beneficial quirks of an entrepreneurial journey. You can have a routine designed by yourself, for yourself.

Take your days off when you are too stressed and can’t think straight. Self-discipline might sound simple but practice takes ages. Schedule down time for yourself.

15. Take these steps to quit your job without burning bridges

Resume.io has this infographic about the steps you should take after you’ve decided to quit your job:[2]

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    16. Remember why you quit your job

    Lastly, remember why you quit your job and started doing what you love. There would be bad days that will make you regret your decision, but don’t let them dominate the reason why you took the plunge.

    Your soul wasn’t happy with what you were doing. Your new venture is what you always wanted to do.

    Never forget that.

    If nothing works out, you could still go back to any job you want, but at least, you’d be spared from regrets and constantly arriving “What if?” question in your head.

    So, start now and live without any regrets.

    Execution matters more than thought. Turn your dream into a reality starting today. Start small and grow big.

    Besides, it’s never too late to do what you want to do. Here’s the proof:

    How to Start Over and Reboot Your Life When It Seems Too Late

    Featured photo credit: Pexels via pexels.com

    Reference

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