With my millions of years of experience I have put together few important things to consider to build a successful On-line Business:
1. Strategic Planning
- Go back to Pen and Paper and Carry Out long term planning
- Work things out in periods of three months, put targets, put tools to achieve it and measure
- Give space for U-turn in case things don’t go right
2. Multi Channel Operations
- Allow Sales channels like eBay, Amazon, PlayTrade along with your own operations
- They help to pay your bills
- Use them as new Customer Acquisition tool
3. Reputation Management
- Incorporate Customer Reviews & show them on the first point of contact
- Use independent Review sites like Review Centre & Trust Pilot ( FREE with limited privilege)
4. Usable Website
- Get some one good to create a website which is user friendly
- Get some folks you know together and test the website from START to FINISH of buying cycle
- Plan a periodic website Audit
5. Customer Service
- Keep customers happy no matter what it takes
- Losing one customer means
# of Lost Customer x Avg Order Value x Order Recurrence/month x 10 years ( for example)
- Even if you lose few pounds to put things right do it, your customer will pay it back with repeat orders
6. Operation Management
- Keep some important Records like # of Customer Complaints, # of Returns, Order Dispatch Time that helps you to better understand how your operations is going on and correct them in time
- Get yourself involved at least twice a month even if it packing orders. A successful boss is the one who understands every aspect of business.
