How to Grow Your Online Business by Hiring the Right Team

How to Grow Your Online Business by Hiring the Right Team

This is a guest post by Thea, a career counselor and a digital marketing enthusiast.

Growing an online business is a dream for a lot of people.

With all of the changes going on right now in the economy, an online business offers the freedom and flexibility that many people desire.

If you are ready to take the next step and start your own venture, there are a lot of aspects that you need to take into consideration. Not only are there financial considerations to make, but there are hiring decisions as well.

If you are going to grow your business to the best it can be, hiring the right team is essential.

Here are some tips on how to hire the best team members possible.

Hire Potential.

One of the biggest things to consider in business is the type of person you want to hire.

With all of the changes going on in business, you need to hire the right team for your company. There are a lot of people who struggle in this decision. Many of the people who have the highest potential in business do not have a lot of experience in this area.

The balance between skill and potential is always something that you will have to look at. When it comes down to it, you can always train skill but not potential.

Be Open to Different Backgrounds.

Some business owners will only hire workers with a certain background. When you are open to many backgrounds, you are able to develop your business in the best way possible.

With how fast the economy is moving today, it is going to look much different in five or ten years.

Having a diverse team with many backgrounds allows you to take your business to a new level and adapt quickly.

Don’t just look at where a person came from when hiring them. Look at their potential and where they can fit into your business.

Dollar General’s application process is a great example of this. The company is open to people of various backgrounds, especially veterans who may not have a lot of business experience.

Hire Different Types of People.

hire the right people

Hiring different types of people in your business is critical to success. Diverse people allow different ways of thinking to come into your business.

With a lot of business owners, they only want people who are just like them. This is the wrong approach to take in business, but this is especially true in online business.

With an online company, your workers can work from anywhere in the world. Look at this diversity as an advantage that you can have over your current competition. Not only will you have the ability to rely on their experience, but they may be able to help you get into new markets as well.

Never Rush Your Decision.

As a business owner, there are a lot of things that you have to get done on a daily basis. With so many important issues to sort through, hiring a new person can seem like a low priority.

Plenty of entrepreneurs end up rushing the decision at the last minute and then regretting it later. This is never the right approach to take.

Hiring a person in your business to create the right team is one of the most important decisions that you can make to grow your business to where it can potentially go in the future. With this decision, you need to stop and think about what you really want in a position.

Pay Fairly.

Some businessmen only view workers as an expense that can be cut at any time. In the past few years, more attention has been paid to how much workers make in an industry.

If you want to hire people who will do the job well, you need to have a fair compensation structure based on what is going on in your business. The more you pay, the higher retention you will have in your business.

Replacing workers is always expensive, and you can have a lot of cost savings by hiring and retaining the best team members possible.

Overall, running an online business is a lot of hard work. However, hiring team members can help you take things to a new level in terms of growth. If you follow the tips above, you can start to have success with the people who you bring on your team.

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Becoming an Online Merchant: 4 Tips to Find the Perfect Product to Sell

Becoming an Online Merchant: 4 Tips to Find the Perfect Product to Sell

E-commerce is a booming industry and will only continue to grow in the coming years. That’s why it’s not so surprising that there are plenty of people who want even just a small slice of the proverbial pie.

But whether or not you are looking to establish a full-blown online store or would simply want to supplement your income by buying and selling items on the side, you have to pick a product to sell that would, well, sell.

With the right marketing strategy, one can argue that anything and everything can be sold online. However, the real challenge is finding a product that is conducive to success. How do you find that product? Here are a few pointers.

Finding The Ideal Product to Sell

1. Target Hobbyists and Collectors

You’ll be surprised by just how much money hobbyists and collectors are willing to spend to fuel their passions.

If you have a knack for finding rare items, you’ll be a big hit with collectors. Whether they’re interested in action figures and toys, lapel pins, first edition books, stickers, sports cards, or even antique dinnerware. Just make sure that everything is legitimate.

Meanwhile, there is no shortage of hobbies on which people willingly invest their time and money.

Some of the more popular ones include biking, fishing, knitting and crocheting, calligraphy, model building (including radio-controlled vehicles), and handicrafts. Look for a leisure pursuit where you can act as the product-based solution and you’ll easily enamor yourself to these customers.

2. Something Hard to Find or Can’t be Bought Locally

There are some things that can be easily found in a local grocery store or a specialty shop — say gardening or baking supplies. But what about specialty foods, magician’s accessories, eco-friendly products, and fandom items?

Most likely, people will go online to find these. You can enlist the help of Google Trends and Google Keyword Tool to get a glimpse of what kinds of products people are searching for online and use the results as a guide to pick a niche product to sell.

You can also try to sell products that can’t be bought or difficult to procure locally, like Japanese Kitkats, the “three-story” alfajor Oreos, or Asian beauty products. The latter, in particular, is a good place to start since a lot of products are only available in select countries or regions but are available through wholesale Asian cosmetics websites. Do the hard work of sourcing these products (and offer them at reasonable prices) and see just how much your customers will love you.

3. Star with The Accessories Before The Big-Ticket Items

When people buy big-ticket items such as 4K TVs, high-end smartphones, and gaming laptops, they buy them only once. Their next purchase of these kinds of products will probably be in the next two to three years.

These are big investments, after all, and people are much more reluctant to spend huge amounts so often. However, accessories are much more common purchases and people are relatively more agreeable to spending more often on these items. Especially when they’re meant to increase the performance or ensure the longer life of the bigger product.

Think about HDMI cables and switchers for TVs, charging cables and power banks as well as cases and protectors for smartphones, and gaming accessories like a mouse, a keyboard, and a good pair of headphones.

If you already sell the big-ticket items, then it’s a wise decision to add the accessories to your online catalog. If you’ve yet to choose what to sell on your online shop and/or you have a limited capital, you should consider selling these kinds of accessories first.

4. Consumables Mean Customers That Keep Coming Back

Consumables mean that you will have a steady customer base and a rather reliable revenue stream. What’s more, when people need to order products from you regularly, it’s much easier to build a loyal customer base.

Think about specialty cooking ingredients (Himalayan pink salt, anyone?), supplies for arts and crafts, and even cosmetics. Just make sure you’re able to deliver each and every time, since you don’t know when your customers will run out of their stock or order in bulk in advance.

Of course, choosing which product to sell is just one part of a thriving online business, since you should also take into consideration the demand, potential competition, and reliable suppliers, among others. However, it’s also undeniable that finding a saleable item is a huge contributor to your business success. Good luck on your journey as an online entrepreneur!

If you're into ecommerce, you might be wondering what product to sell on your online store. Here are 4 great ideas that are sure to make you money and bring you loyal customers: #ecommerce #onlinestore #makemoneyonline #sidehustle