There’s a lot of information online about how to get your ecommerce store up and running, but when your store is functional, the advice begins to dry up. There seems to be the assumption that if you have got your store off the ground and are selling well, there’s nothing more for you to learn.
As the owner of an online store, you’re likely to be well aware of any gaps in your knowledge; you’re only just beginning to learn effectively. Negotiating the hurdles to get off the ground is tough; but deciding your next steps is far trickier. You have a good base to build off, a strong idea, and an ever-growing number of regular customers– but what comes next?
To try and fill the advice gap, let’s take that next step and ponder the best ways to launch your store to the next level. Hopefully one of these will suit your business, and ensure that your ecommerce empire is able to flourish the way you have always dreamed it would.
OPTION ONE: Expand Your Product Range
If your store sells skincare products, for example, then there is a finite number of products you can sell in that niche. However, you can move into a related niche and expand your product range to entice new customers. For a skincare store, your best related niche would be something to do with makeup or beauty.
There’s a natural expansion point for every store, no matter how esoteric your product range. You sell baby clothes? Sell products designed to help sore skin– those babies might get nappy rash, after all. Or if you’re selling tools for construction businesses, you can branch out into selling safety gear. There’s always a way to expand that’s related to your existing niche– and it can open up a whole new world of business to you.
OPTION TWO: Selling To Overseas Markets
Many ecommerce owners believe that sending products overseas is incredibly difficult and — if we’re being honest — there’s some truth to that. However, it’s an obstacle you’re going to want to navigate around, and thus give your business the chance to explore new markets.
Sending items overseas successfully is all about diligence and research. It’s about knowing the aircraft carrier you’re going to work with; everything from their safety record when it comes to transporting heavy goods to the quality of the material handling roller bearings on their conveyor belt. It’s about knowing all you need to know about different import taxes for each country you intend to sell to, and how you can ensure your compliance. More than anything else, when sending products overseas, it’s about compliance with regulations and standards for each country. If you don’t mind doing your research, then you could open up your customer base, and expand your profits as a result.
OPTION THREE: Sell The Business
You’ve done the hard part; taken a store from an idea to a genuine business opportunity. If you’re no longer as invested in the store as you once were, then you can always consider selling it. You can leave your store in the hands of a capable buyer, and use the money you earn from the sale to fund a new venture.
One of the options above should help to take your online store to the next level– so which one do you think might work for you?