Here are the 5 deadly mistakes for building Ecommerce business:
1.If you loose money on your customer acquisition, you've got a BIG problem. One of the reasons you have high costs is because you haven't cracked your strategy. Part of it is math. The other part is creating a custom strategy that’s sensible on business terms, ensuring you make profit on each net new customer. This ensures your business is sustainable.
2.If you don't have a system to measure your funnel you have a problem. Because without a way to know what’s broken -- how will you know if your making progress or going deeper into a hole? Without a system there’s no way to pinpoint issues. Systems help us know what’s going on under the hood. The other part is course correction, repairing broken things and validating functionality.
3.If you are without goals to move your business forward you have a problem. Without goals there's no clarity about the results you and your business need. This is the first step to defining the strategy to move things forward to get to these goals. It’s how people make the shift from running around in circles to getting laser focussed on the right things to create impact and results they know. This is how you create the abundance in life you want.
4.If you are without good traffic to your shop your business will go no where. Because when the wrong people visit your shop, who don’t value your products, guess what happens? You don’t get sales. And before long, without customers and profits, your business will hit the wall.
5.If you’re missing a healthy sales conversion ratio you have a problem. Because when sales don’t covert, your products stay on the shelf. They collect dust instead of delighting customers. One part of your problem is with messaging and story telling -- you know educating about how your product is different from the other guys. Another part is with your pricing to ensure a ton of value in today’s market.
SO if you have these problems you need to FIX this pronto - so you can win this season.
When you fix this it’s easier to have the cash your business needs and be in a state of bliss where everything is wonderful. And then you are peaceful and happy.
So if you are feeling stuck and it seems like there's no path, just know something.
You have a choice -- you can do something to build your business.
Because when you make the choice to take positive action, your business will work better.
Noah Koff's mission is to build 8-Figure Ecommerce businesses. He has founded and built multiple companies from the ground up including Redwood, MGen and Earth Project. His wisdom comes from decades working for respected agencies and product companies big and small. Noah's roots extend from global business hubs; San Francisco, New York City and London, where he's worked across diverse organizations and sectors.