Entrepreneurs' Day was originally coined in 2010 as an outlet to show gratitude and respect to those who have made their mark on the business playing field, falling on the third Tuesday in November.
To celebrate, we explore the secrets to success by looking to some of our clients who, after beginning their stories as small start-ups with big ideas, have gone on to achieve commendable growth, shipping orders globally. Read on for our reliable tips for true online success.
Solve your own problem.
Sometimes, starting your own business can be the perfect interpretation of the age old saying, “if you want something done right, do it yourself”. Take the lead from our client, Calla Ltd. As a woman suffering from bunions for 20 years, founder Jennifer Bailey struggled to find stylish and comfortable shoes that looked high-end yet supported her feet. The perfect example of the consumer-turned-business-owner, Jennifer took matters into her own hands. She told us,
“As bunions are a common condition for women of all ages I knew that it was a problem that many other women must also encounter when buying shoes. I saw the perfect opportunity to solve my own footwear problem, help other women in the same predicament and launch a business with a unique market positioning, all at the same time”.
After meetings with designers, professional fitters and podiatry experts, she launched her own brand, Calla was born, along with Jennifer’s own line of bespoke yet beautiful shoes.
This trait of homophily- sharing a likeness and commonality with your target customer base- is also one of the greatest marketing tools. To reap the rewards of the similarities you share with your end-customers, we recommend heavily incorporating your story into your site by making your ‘About’ section strong, personable and structured around your USPs.
Make sure people back your idea.
It’s one thing to believe in your own business idea, but with 8/10 start-ups failing in their first 12 months, it’s always dangerous territory for a new business to gauge the level of demand they’ll be met with post product-launch.
Client Mous, online retailer of high-impact, Airoshock-lined phone cases found their support through crowdfunding. Developing prototype after prototype, Mous set up a crowdfunding campaign on Indiegogo, and with the idea backed by 50,000 people, the implementation of their business plan could begin, launching them to success!
Among many benefits, crowdfunding is seen as an excellent pathway to starting an ecommerce business because it reduces risk. It allows entrepreneurs to gain market validation without having to give up equity and take a product concept to the ruthlessly-competitive online marketplace. Crowdfunding also allows aspiring businesses to gather a prospective base of loyal customers through the opportunity of pre-selling that most crowdfunding platforms provide.
Have a noble cause
It is no longer seen as enough for entrepreneurs to simply aspire for profit. Coined the triple bottom line, today, there is huge value being placed by consumers on retailers that align their business strategy with profits, people and the planet.
Enter our client Moving Beans, an online business who are striving to diminish the excessive amounts of plastic and aluminium resulting from single use coffee pods. Their answer? Retailing completely biodegradable and compostable coffee pods compatible with the hugely popular Nespresso machines. While Moving Beans made their mark on the market with an exact USP that is in keeping with our efforts to reduce our global environmental impact, their business idea is also a great lane to success by making them equally unmet by competitors in their market. Since launch, Moving Beans have gone on to dispatch hundreds of orders from one of our modern fulfilment centres.
Adapt to a changing market
You’ll never survive- never mind thrive- in business if you don’t respond to the changing face of market demand. We say this out of experience. Originally set up in 1984 as Exact Abacus and specialising in ERP accounting software, we continually shifted the focus of our technology and business strategy in line with the growing prominence in eCommerce. Today, our order processing and platform integration system now underpins our foundation of fulfilment centres in which we pick, pack and dispatch orders on behalf of growing online retailers.
The benefits to an adapting business model and reactive portfolio of products and services go further than simply securing a competitive edge and increasing your bottom line. Challenging the status quo, such as innovative solutions to delivering customer service or the creation of new products, can have a huge impact on the wider industry and establish your brand as a figurehead in market change.
Optimise your visibility
In the sea of established online retailers, search volume and Google site rankings are everything, and it can be hard for ecommerce entrepreneurs to target the right traffic and drive it to their site.
Client Red Candy, overcame the issue of visibility by adopting a particularly niche focus upon setting up the business- becoming the world’s first ‘red only’ retailer of design-led products for the home.
Andrew Menzies, director at Red Candy explains, “Because of the specific nature of our product base, being that everything was red, we began jumping to the top of Google’s rankings for red clocks, red kitchen accessories, red anything really so the business was experiencing huge growth”.
To safeguard success, we recommend undergoing research to optimise your product data, making sure that terms and phrases used are based on customer search habits. Figure out what attributes of your products are most important to customers and test variations of these components off-site. Performing these tests can have huge influence over the success of new businesses because by taking out the guess-work, optimising your search-engine visibility is bound to increase traffic to your site, ultimately increasing your bottom-line figure.
With thanks to the impressive examples lead by a select few from our successful client base, we hope these tips and tricks can have fruitful impact on your new business. If you’re a growing online retailer on the search for a fulfilment technology provider to take the stress out of operations: get in touch with us today to simplify your order processing process and save yourself valuable time.
by Liz Churm on 19/11/2018