Growing your Business
As an experienced seller, you have scaled through the initial process of listing your products which entails the product description and also taking photos. You have also advertised on the different social networks making sure everyone you know and everyone they know in turn are familiar with your store. If you have taken all these steps and have done it right, then you should have a wave of customers storming your store. At this stage you should be more involved with growing your store to accommodate this flow of customers.
Two steps you must adopt to grow are:
You Must Reinvest to Grow
This is one of the initial steps you must take to ensure your business thrives. If your initial investment is 1000 naira and you make 1500 naira, you are left with only 500 naira to either pay yourself or reinvest. It is critical to set goals and reinvest your profits back into your business until you achieve those goals. While you need to pay yourself, initially having adequate inventory and sourcing additional products is more important. Disbursing your profits should only be done when you are able to restock comfortably.
Automate to Grow
Most people think that you need to grow your business before you can automate your business. However, you cannot grow your business when you are weighed down with repetitive tasks that you have no time to think, let alone source for new products to increase your sales.
Bottom line, unless you automate, your business will not grow.
Look up services that provide automation tools for sellers also look out for the types of automation that can serve as your “second” employee, such as automating tracking numbers, sharing inventory across marketplaces, automating feedback and customer communications.