Enterprise: Busting common small business hurdles to help your company grow online
| 21st March 2019
Despite the uncertainty within of the UK economic climate, small businesses throughout the UK can access more opportunities online for business growth than ever before by enhancing supply chain management processes.
There are, however, numerous hurdles SMEs must negotiate on a daily basis in order to keep moving forward within such a competitive environment especially online.
Targeted marketing campaigns, efficient product development and overcoming issues with distribution are just a few key examples.
However, solutions for extensive growth online exists – it’s just a matter of knowing where to look for information to help companies with their decision-making processes when it comes to achieving aims and objectives.
These are some of the most effective ways to gain a winning edge when trading online while still ensuring that quality is never sacrificed for growth.
Taking control with powerful e-commerce platforms
Owners need to leverage powerful and flexible e-commerce solutions if they hope to achieve success. The unfortunate fact of the matter is that all platforms are created equally. This can present somewhat of a quandary. For example, what characteristics signal a worthwhile provider?
If we think about buildings, for example, those without proper structural supports, even the most impressive properties will be reduced to nothing more than heaps of rubble. This same analogy can be applied within the online business community.
The main purpose of an e-commerce platform is to provide solutions as opposed to problems. This is also why basic packages might not be sufficient in order to address the day-to-day needs of the modern business. In other words, you get what you pay for!
There are many variables that some responsive e-commerce platforms offer:
- The agility required to adapt to different business models
- An intuitive and user-friendly design
- Excellent levels of customer support
- Secure and flexible payment gateways
- Real-time monitoring and reporting.
Although the price of an e-commerce platform is not necessarily indicative of its usefulness, it is normally a good indicator. Still, flexibility should also be present here.
No enterprise should be forced to exceed its budget simply to accommodate their online sales requirements. Therefore, business owners should look for bundles which offer a number of different pricing packages and, ideally, a free trial period before any type of firm commitment is required.
E-commerce solutions are powerful options and yet, they may not be equipped with the right utilities and tools in order to tackle other real-world situations such as shipping.
This is why companies should also take a look at how small business ventures are being transformed by a supply chain management concept known as ‘drop-shipping’.
Drop shipping services: An entirely new way to do business
Take a moment to think about some of the main challenges to overcome when starting a small online business.
One of the most profound and confusing can involve tackling shipping requirements. A handful of potentially problematic areas can include: Sending products in bulk; International shipping solutions; inventory tracking; handling queries, complaints and potential returns as well as knowing the applicable tax rates.
Not only can addressing these factors be frustrating, but any mistakes could also be quite costly. This is when drop shipping can connect the proverbial dots.
Drop shipping involves the use of a third-party supplier. These suppliers offer hundreds and even thousands of products to the seller.
Depending upon the scope of the retail site in question, the correct items can be quickly chosen and advertised. Should a sale take place, the supplier is immediately notified that the product needs to be shipped. Issues such as delivery times and VAT are therefore no longer concerns that the seller needs to address. Thus, more time can be devoted to other core competencies such as sales and marketing strategies.
It should also be stressed that the headaches often present when managing in-house inventory can be avoided entirely. Both time and money are therefore saved.
While larger organisations might be able to tackle these subjects, the fact of the matter is that small start-up firms might not have the manpower or experience that is required. So, drop shipping will provide an extra sense of balance to your operations.
Is drop shipping the right choice for your business?
Ask yourself a few questions: Are you looking to improve delivery times, or have customers complaining about receiving products well after the intended arrival date?
Have you been struggling with issues such as international tax rates or currency conversions? Do you need to ship products in bulk to a burgeoning market?
If so, then you could very well benefit from the features that drop-shipping has to offer.
Developing a sound business plan is critical if you hope to take your current operations to the next level. Of course, drop shipping and e-commerce platforms are only two segments of the larger picture. They are nonetheless powerful utilities to explore in greater detail.