So you’ve started a business recently? Good, because that means you’ve taken a real step towards your dream. Congratulations. But let us tell you that starting a business isn’t merely about finally bringing your ideas into reality. There may be things that you fail to take into account and that may eventually lead to doom.
For our business owner friends, we’ve rounded up 5 of the important things you might’ve forgotten. Keep reading so you can fix it before it’s too late.
1. Separating Income
Especially if you’re doing small business, you’ll be tempted to use the money you earn from it for personal expenses. It’s not wrong. You need income and that’s why you start your business in the first place. But if you don’t properly separate your income, you may end up with no money left to keep your business going.
Instead of using your money uncontrollably, reward yourself with a salary. Out of your total income in a week or month, take a certain percent of it for yourself. The rest should return to your business and can only be used to grow it.
2. Unforeseen Costs
Taxes, hosting renewal fees, and severance pay are examples of costs that you may not pay attention to upon starting your business. But they exist and could financially affect your business in the big way. That’s why setting up an emergency fund is important, so you can cover those unexpected expenses without ruining your finances.
Your business needs marketing and as we’ve previously said, marketing can be expensive. But luckily, there are cheap and even free marketing strategies too [link ke article 5 marketing ideas]. Make sure you read the tips we’ve listed.
4. Digital Presence
Online is a new way of doing businesses. With the current pandemic still limiting our offline activities, more and more businesses are building and improving their online presence. But doing online business isn’t simply offering your products or services through the internet.
To look more reliable and stand out from your competitors, you need user-friendly website, catchy visuals for social media posts, and a customer support team among others. These things will cost you much to create. If you’re not used to it already, you may have a lot to learn about online business. So if going online is what you wish, we warn you: have extra time, energy, and money prepared.
5. Order Management
Getting orders and making sales are exciting. But preparing the orders, packing, and shipping them can be annoying. Especially if you have so many orders around the same time. Instead of coming up with new strategies to build your business, you may end up spending more time managing these orders.
You don’t like how that sounds? We don’t either. So, in order to allow you to work more on the important parts of your business, 8Commerce offers complete fulfillment services that include picking, packing, and shipping your orders.
8Commerce utilizes Sales Channel Integration, a smart platform that simplifies your business by integrating orders and inventories from multiple marketplaces. This platform enables you to keep track on hundreds and even thousands of your goods. All data and information will be shown real-time, so it’s easier for you to monitor your stocks and set up new strategies to blow up your business.
Interested in making your business this simple? Click here to get more details from our team.