Why your small business could fail

The explosion of eCommerce over the past decade has become something of a double-edged sword for small business.

Low barriers to entry mean you can begin trading almost instantly, but the same is true for potential rival enterprises. Standing out in such a crowded environment is the key to success. This often hinges on a proactive understanding of the multitude of new tools on offer but your new small business could still fail.

Of course, this doesn’t mean that all business owners have to instantly become an expert in social media interaction or SEO tactics. But it does pay to have a general understanding of the opportunities for growth on offer. Here are a few reasons your small business could fail.

The social media problem

A certain sarcastic red-haired fast food mascot has shown the world how an active and engaged social media team can drive brand recognition globally. But that incredible potential for growth has its own risks (just ask the British singer who started their #susanalbumparty campaign).

For the niche or new business owner, the various platforms and cultures can initially be bewildering. The common wisdom is to have manned accounts available constantly, but this may simply be unfeasible for small operations. Instead, try a combination of getting to grips with a single site and an eCommerce website builder.

Play with numbers

All online shoppers have experienced second thoughts when getting to checkout and seeing a sizeable rise in price thanks to shipping. It is an immediate, tangible reason to simply walk away from the transaction. Offering free shipping over a certain price or working it into base costs helps ease the customer experience and translates interest into return shoppers.

Start a family

When creating an online brand, one of the more challenging issues is accurately convincing potential customers of a product’s merits with logo create tools. Due to the physical inability of interacting with an item, reviews and photos often have to fill the gap.

Thankfully, happy shoppers are willing to share their experience via social media. Starting an automatic tracker can provide notifications when your product is mentioned. Either sharing these positive messages or working them into your own materials is a simple way to show an impartial opinion. This also provides a sense of community and appreciation between your customer base and your brand without spending a penny.

Don’t go alone

The immediate impulse for eCommerce business owners is usually to try and tackle everything at once. However, this approach actually dilutes your ability. If you can lead people and understand a market, then do so. Thankfully, a large group of freelancers can pick up the rest. It’s a buyers market for skill-based casual work, so shop around and don’t be afraid to cancel contracts.

Listen

Everyone thinks they have the perfect gap in the market. But eCommerce is a fast learning curve driven by the masses. Trends come and go in minutes, so listen to what others have to say. Set up one of thousands of social media monitors (many of which offer free trials) to see what your customers are saying.