Let’s be honest – coming up with a successful business can be a difficult job in the present competitive landscape. From online stores to service industries, almost every domain is facing a troublesome time to generate profitable results.
Therefore, if you are also the owner of an online business, then you might encounter all kinds of adversities along the way. That’s why I have come up with some smart tips in this post that would help you overcome adversity with your online store.
While starting an online business is comparatively easier, sustaining it can be extremely tough. Do you know that around 90% of online businesses fail in their first 120 days only? Even if your business is among the top 10% of the lot, it might encounter unexpected hurdles along the way, including the following:
- Unable to find the right products that would sustain in the market.
- Overspending on marketing budgets and not focusing on other verticals.
- Underestimating competitors and losing your target audience to them.
- Not generating enough traffic or attaining leads to sell your products.
- Facing unwanted obstacles in the shipping and order fulfillment process.
- Not implementing a future-proof business strategy that doesn’t allow your company to grow.
- Picking wrong technologies or not hiring the right people.
As you can see, there can be so many factors that can bring an unwanted negative impact to your online business. While there could be several factors out there, you can consider the following things in mind to overcome any adversity with your business.
Tip 1: Always Research Before Taking a Major Step
It doesn’t matter if you are starting a new business or would like to expand into different verticals, you should always make data-driven decisions. To do that, you should do extensive research regarding your business strategy, customer behavior, investment planning, and so on.
Ideally, by having in-depth insights, you can easily avoid unexpected hurdles related to your online business and can take better decisions as well.
Tip 2: Maintain a Positive Attitude
It is a known fact that our perception and attitude can have a direct impact on our actions. If you stay negative and would be too afraid to face obstacles, then you would find it hard to grow in life.
That’s why you should always look at the glass being half full and venture into your online business with a positive mindset.
Tip 3: Understand the Lifecycle of Your Customers
To make any business profitable, you would need to have the support of your customers. Ideally, most businesses fail as they don’t understand their customers and can’t meet their growing requirements.
Therefore, to overcome adversity related to customer retention or lead generation, you need to shift your mindset. From brand awareness to evaluation and purchasing to loyalty, there are plenty of things you need to work on to attract and retain your customers.
Tip 4: Keep an Eye on Your Competitors
If you want to be ahead of your competitors, then you should be aware of their action plans and how their products are doing. It is a vital part of the business strategy of any successful online business that should not be avoided.
Thankfully, with the power of social media tools, it has become easier than ever to keep an eye on your competitors. For instance, you can take the assistance of any social media listening tool to perform in-depth competitor analysis and can also explore their targeted keywords.
Tip 5: Get to Know the Market and Your USPs
Apart from competitive analysis, you should also do extensive research regarding the ongoing market. Let’s say you want to sell pet food online and you realize that the industry is already saturated. Thus, you should come up with some unique selling points that would make your product stand out from the crowd.
In this case, having organic or healthy ingredients could be one of the major factors in your pet food brand that can make it unique. To identify the USP of your brand, you should think about what your customers want and how you can provide it. At the same time, it should be something different from existing competitors in the market.
Tip 6: Be Social and Make use of Your Network
In case you are just starting out with your online business, then you should make the most of your network. For example, if you have just started an online store, then chances are that your friends and family members would be your first few customers.
Consider attending networking events (local and online) so that you can meet other entrepreneurs and grab opportunities to expand your business. Apart from that, social media platforms like LinkedIn, Twitter, and Facebook are some of the best places for networking.
Tip 7: Seek Help from Others
You might already know that facing adversities can be inevitable but overcoming it would depend on our actions. Ideally, it is not possible to be an expert in every field and you can seek assistance from others.
One of the best ways to overcome adversity in your business is by getting the help of other industry-specific experts. You can consider hiring professionals or be in touch with a consulting firm to get more valuable insights and solve all sorts of problems in a better way.
Tip 8: Use Modern Technology and Automatic Features
Most businesses fail in the long run as their technology becomes outdated. If you don’t want to make the same mistake, then consider coming up with a future-proof business strategy.
For instance, if you own a dropshipping online business, then you can consider using high-end tools like Shopify and DSers. DSers has advanced features like automatic tracking of your orders and supplier optimizer that would not only save your time but will also make your business ready for tomorrow.
Tip 9: Follow an Omnichannel Approach
Do you know most of the businesses fail because they become stagnant and don’t evolve with time? To overcome adversity and get profitable results with your online business, I would highly recommend having an omnichannel presence.
This means, apart from having an active online store, you should also focus on other channels. For example, you can consider selling your products directly via social media channels like Facebook and Instagram. You can also explore physical channels for selling your products to expand the reach of your brand.
Tip 10: Understand that Adversities are a Part of Running a Business
Last, but most importantly, you should understand that it is impossible to completely avoid facing adversities in your business and life alike. From Steve Jobs to Walt Disney and Elon Musk to Bill Gates, almost every famous entrepreneur has faced some or other kind of adversity in their business. Therefore, the key is not to avoid facing a hard time, but to have a contingency plan in advance.
Remember, sometimes obstacles can help us attain success in life and your adversities can end up being the most powerful lesson in your business.
Having the right products and using the best-in-class technology are some of the most important factors that you should follow in your business strategy. Therefore, to work on these components, you should consider using DSers, which is the official AliExpress dropshipping tool. From finding the right products to managing your store – you can do it all in one place with DSers.
Get Started Now to Grow Your Online Business with the Best AliExpress Dropshipping Tool - DSers!
· Since DSers has a wide range of thousands of products listed in various categories, you are sure to pick the best things to sell on your online store.
· Furthermore, DSers offers an inbuilt Supplier Optimizer feature that will let you handpick the best-rated suppliers for any product.
· You can seamlessly integrate DSers with all the major eCommerce platforms like Shopify, WooCommerce, and Wix.
· With features like automatic order status updates and automatic syncing of tracking numbers, you can make your managing experience a whole lot smoother.
· Besides that, DSers offers several other features to manage your store like bulk purchasing, variant mapping, bundle products, stock management, and more.
The ball is in your court now! As you can see, with the right will and by following a foolproof business strategy, you can easily sustain a thriving online business. Just make sure to keep an eye on your competitors and add a valuable experience to your customers so that they would keep coming back.
Another smart way to overcome adversity in your business is by using resourceful tools like DSers that would let you manage your dropshipping business like a pro.