You probably have heard the adage that errors are not real errors unless you learn nothing from them. While this is indeed true, errors, real or imagined can be highly expensive to your establishment. This article will supply a little advice and a preemptive look at the major errors to dodge when shaping an online presence. Becoming a Gold Member with Rhinomart will offer you exclusive discounts on new products, lucrative benefits for your broadening company and splendid industry insider suggestions like those below from our eBooks.
• First Order of Business: Trash internet “turnkey-itis.”
Numerous citizens suffer from the delusion that once they skip onto the web and start their online business, they will earn capital each and every time that they turn on their computer. Don’t fall under this misconception. Jump starting your company or “turning the key” will open the door to e-commerce but it certainly won’t help you stay on top.
Avoid sites that offer ready-made websites. This type of cookie-cutter approach provides you no control over merchandise costs and reduces your company to a general store rather than a niche driven, high demand retailer. Making your own personalized and branded website along with specialized wholesale merchandise, knowledge of what products retail and a high response rate to your customers are what give you the real edge.
• Second Order of Business: All products for everyone--don’t be that guy!
To the uninitiated, it might seem like a great concept to be a kind of catch-all or general store for all the merchandise that everyone wants. It’s not. Don’t be that guy (or girl)! Some may even take the initiative to capitalize on a huge fad that is presently in great demand and stock their online stores to their virtual ceilings with it. Working in a certain good will yield more results than stocking up on a fad that in as little as two weeks or two months if you’re fortunate, no one will want. Just because online space is is inexpensive doesn’t mean you have to market everything under the sun to generate fantastic money. Shelf space is costly when it comes to brick and mortar stores and this rings true for internet stores as well. Virtual shelf space taken up by merchandise that are not retailing lowers your store’s attraction and this in turn costs you sales. Cut the fat and push on with particular products that market!
• The Third Order of Business: Not getting faked out.
Beware, the internet is chalked full of counterfeit merchandise. Once you decide what types of products you desire to source, it’s vital that you find a trustworthy supplier. Everything online from handbags, to designer goods, fragrances, music and more are often basically outright fakes. Many counterfeit products yield from overseas, so if you choose to source overseas be confident you’re operating with a trustworthy seller.
• Concluding Order of Business: Forget bogus retail claims.
Once you’ve determined your wholesale price for your goods according to the volume you are able to negotiate with your wholesale merchant, you must learn your retail price. In order to avoid being the victim of an unrealistic claim do your research, look around and see how much a specific good is advertising for at a selection of venues. Claiming that you’re retailing an item for drastically less than at a department store for example when this is untrue can only get you into trouble.
Anxious for more key tips? You can discover these and much more in our eBooks! Members of our Gold membership program have complete access to these eBooks and our mammoth stock of products.
