It seems that every day, more states and countries are legalizing marijuana for medicinal or recreational use. As cannabis commerce becomes less restricted, opportunities are growing and business is booming. The expansion of eCommerce platforms coinciding with the advent of cannabis legalization means that you have the ideal outlet for selling CBD oil and related merchandise beyond your local dispensary. If you want to start your own cannabis online store, keep reading for tips on building[...]
Looking for passive income ideas? Smart move.
Robert Kiyosaki, the businessman and author of Rich Dad Poor Dad once said, “To obtain financial freedom, one must be either a business owner, an investor, or both, generating passive income, particularly on a monthly basis.”
The business world is cold, harsh and, if you’re not careful enough, can cause your dreams to be crushed into pieces before you know it. However, it’s not doom and gloom all the time; there are also many successful businesses that have made their way from the ground up.
In this article, we will discuss the nine worst mistakes that new entrepreneurs make most often. Read through and you can save yourself and your business from making the same mistakes.
Digital products offer great opportunity for building an eCommerce business without any material inventory. Compared to physical products, they pose less hassles in terms of fulfillment. In the current eCommerce landscape, selling digital products can be a lucrative prospect for a lot of entrepreneurs, technology enthusiasts, artists, educators, freelancers, and more. Today, let’s explore different digital products and how you can sell them through your website.
With the rise of cloud technology, it’s never been easier to get an e-commerce brand off the ground without breaking the bank.
Innovative software vendors like 3dcart, Shopify, and Magento have been steadily introducing a wide array of features that go beyond simple “shopping cart” functionality, and built-in integrations with a variety of turnkey business applications and plug-ins make it easy for online retailers to add on specific functions as they’re needed.
With these built-in features[...]
Dropshipping’s rise as a money-making model is evident from the fact that more than $85 billion in sales come from dropshipping each year. Just to put that into perspective, Intel earned $79 billion in revenue in 2018.
The dropshipping model itself is very simple. You market your products online (while holding no inventory), and when a customer pays for one of your products, your supplier fulfills the order, taking care of packaging and shipping. And, therein lies the appeal of dropshipping:[...]
Starting a Business | 7 min read
Standard operating procedures (SOPs) are sequential instructions that act as a benchmark to guide the work process that employees follow. SOPs enable companies to operate their day-to-day operations in a way that’s consistent and predictable. There’s benefits of implementing SOPs for all types of businesses, however ones that require strict adherence to standardized procedures and rules will benefit the most.
SOPs are not typically implemented for businesses that thrive on creativity,[...]
Starting a Business | 5 min read
If you’re thinking about starting a subscription box service, you’ve clearly got some good entrepreneurial intuition. These businesses play to a few important facts about American consumerism: in a world of endless choices and minimal free time, convenience reigns supreme and sampling is huge. Plus, everybody loves a surprise in the mailbox, and a solid unboxing experience is almost addicting. But there are some unique challenges with this business model, which every budding entrepreneur[...]
Nothing opens doors like education, and none of it would be possible without the hard work and dedication of teachers all over the globe. World Teachers' Day is a special holiday to commemorate their devoted efforts to bring knowledge to students of all ages and to help them find their passions and craft their futures. At Shift4Shop, we're immensely thankful to the teachers in our lives who helped us discover and hone our skills, whether in marketing, writing, design, development, or any[...]
This year, eCommerce continues to be a consistently growing aspect of world commerce. But, it’s also constantly evolving; what may have been a successful product on an online store yesterday may be flopping in sales today. It’s the nature of the internet itself, and eCommerce is no different. While there’s a lot that goes into your business, from web design to marketing to management software, there’s one thing at the heart of it all: your products. If your store isn’t selling good products[...]
Procrastination is a problem that can affect anyone of all ages and in all walks of life. It's something we're all familiar with, and many people struggle with it on a daily basis. No matter the task we're supposed to be doing, the urge to put it off can be strong. But why do we procrastinate, and how can we stop it? Imagine how much more productive we could be if we can figure out how to put an end to this behavior — we could have more time for the things we love, become more successful in[...]
Starting a Business | 8 min read
Dogs have a well-deserved reputation as man's best friend. For longer than recorded history, dogs have been at our sides providing everything from security to companionship. Today, dogs continue to prove themselves as valuable (and adorable) members of society. While we can show our appreciation with treats and belly rubs, we humans have taken it a step further with the creation of National Dog Day, a holiday specifically for celebrating our canine friends.
As you can imagine, the market for[...]
If you’re running a successful online store, turning it into a marketplace platform with vendors might sound like a great next step to expand your business.
Inviting outside vendors to sell on your platform may not only help you grow your product catalog without increasing your own inventory levels, but it can also create an additional revenue stream from vendor fees for your business.
However, there are a few crucial differences when it comes to running an online marketplace compared to a[...]
Starting a Business | 7 min read
One of the most important parts of building a profitable, viable, and scalable online business is ensuring that you always manage inventory effectively. Whether you’re an ecommerce rookie or veteran, inventory management can definitely be challenging –, especially when deciding which inventory accounting method is best for you.
In this article, we’ll look at what inventory accounting methods are and why they’re important.
Finally, we’ll highlight how to make the right choices for your online[...]
Running an online store has become much more complex and professionally oriented. You need to hire different types of people and purchase software tools to create and launch your eCommerce online store effectively in 2019. You also need to take care of numerous business processes that deal with the commercial and technical aspects of your online business.
The creation of a professional-grade online eCommerce website requires highly skilled software developers, testers, and web[...]
Being a stay-at-home woman, you probably have a plethora of unique skills that you use every day for free so your family runs like a well-oiled machine. But, you might have the urge to be your own boss and start your own business, perhaps using those skills or exploring a hobby that you love. Don’t worry, you’re not alone: according to SmallBizTrends, 72% of home-based startup businesses are run by women.
Thankfully, in this day and age it’s easier than ever to start your own home business.[...]
Mothers already have a lot to do, but that doesn't mean you can't start your own business! While there are plenty of obstacles inherent in running a business while raising kids, millions of moms around the world are successfully balancing motherhood with entrepreneurship, and carry the proud title of Mom-preneur. But how do they manage to do it all?
In celebration of Mothers' Day this year, we reached out to Mom-preneurs in all types of eCommerce industries to learn their stories and find[...]
Starting a business is an exciting, time-consuming process, and one that should be done with thought and care. As you probably know, you can’t exactly create a business from nothing. You need resources to flesh out your business model, invest in employees and equipment and legitimize your company so that it’s operating legally.
A study from the Ewing Marion Kauffman Foundation estimates the average cost of starting a new business at $30,000, but the U.S. Small Business Administration (SBA)[...]
When you invite someone to your home for the first time, you have to tell them how to find you. The easiest way to do this would be to simply give them your address. From there they can navigate directly to your home.
Similarly, a domain is your website's address. It’s how visitors will find their way to your website. Selecting your domain is an important step, as not only will it affect how easily your customers find you, but it can also help improve SEO for your brand.
Starting a Business | 43 min read
If you're getting ready to launch a startup, you're probably experiencing a great many things. A huge rush of excitement, anticipation, and probably some stress and uncertainty. After all, 80% of small businesses fail, and the initial steps you take pre- and post-launch are crucial to your long-term success. All too often, making a mistake can lead to backtracking that most businesses just can't afford. Starting a business always involves tons of decision-making, and to make the best[...]