4 Ways to Improve Your Business You Might Not Have Considered

4 Ways to Improve Your Business You Might Not Have Considered

There are many ways to improve your business.

Most business owners go for the standard ones. They change their prices, pay for advertising, build a new product, invest in employee development, talk to the customers to see what they struggle with, and more.

Yes, these are things we should all be doing to get out of the rut and even see business growth. But there are some opportunities you might be missing.

Here are some smart and easy ways to improve your business that most entrepreneurs don’t consider:

1. Mystery shopping.

Why not become a mystery shopper to see what exactly your customers experience when making a purchase, using your product or service, or interacting with your employees.

Mystery shopping also gives you a chance to study your competitors and how they do business.

While doing that, make sure you let go of the entrepreneurial mindset, and try to put yourself in your clients’ place. See how you’ll be treated, how you’ll feel about the brand, what aspects of the whole thing you won’t enjoy that much.

Then, analyze the results and see what can be optimized.

2. Get the help of accountants.

Investing in professionals to take care of your finances can be one of the smartest things you do to improve your business. If you already have that, invest more resources in it and change the way you use it.

A good bookkeeper might save you hours of tedious work weekly and you won’t need to constantly worry you’re doing something wrong or fear missing a deadline.

Here’s exactly how accounts can help your business.

3. Instagram.

How to Ensure Your Cash is Secure

Instagram is the fastest growing social media platform and half a billion people are actively spending time there every single month.

What does this mean for you and your business? That you should set up an account with your brand name, create your strategy and start building a massive following by posting valuable content on a regular basis.

Use automation and scheduling tools, let your virtual assistant handle the content creation, and begin building your audience there.

You’ll see that on Instagram people are more engaged than they are on any other platform. Also, they are there 24/7 and want to see beautiful images and inspiring quotes.

So don’t make it all promotional. They want real value. Give them exactly that by sharing tips and practical advice related to issues in your niche.

Some big sites are getting most of the traffic to a landing page solely from Instagram. Others become influencers and make tens of thousands of dollars from their Instagram accounts daily.

Give this social media channel a try today and start building your little empire on it.

4. Help your employees get things done.

It’s one thing to pay for training programs, but it’s completely another to actually care about your staff and encourage productivity in the workplace.

Here are some ways you can have smart and efficient workers:

improve office design – a decluttered, eye-pleasing workspace with the right type of furniture and lighting can work wonders and make employees want to do their job well and improve their performance;

– make them share the company’s vision – in your next meeting, describe the big picture of where you see the business a few years from now. Spare no details, add emotion. Let your employees feel like they are part of all this. Then, ask them about their ideas on how to reach these goals faster. They might come up with some pretty creative ways to optimize the work process;

care about their level of happiness – you might have not considered this, but having happy employees can actually increase company profits. You can make sure they are always in a good mood and satisfied with everything at work by recognizing their accomplishments, encouraging them to grow personally, not just professionally, organizing events where you won’t talk about work but will still brainstorm ideas and discuss the market trends.

So that’s how you can take action and improve your business in no time. Of course, there are other things you can experiment with, like simply offering coupons (such as Dominos’ Buy 1, Get 1). Offers like that grab your customer’s attention.

What other ways to see progress can you think of?

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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