The GDPR is Coming! What It Means For You And Your Business

E-commerce allows for scalability and immense growth if you play your cards right, but this growth comes with a price! As you branch out and start selling in other countries, you need to learn how business is conducted there and most importantly, you need to follow the rules.

Enter the GDPR….

What is the GDPR?

The GDPR is an acronym which stands for General Data Protection Regulation. It is Europe’s data privacy law, and it has been fleshed out by the EU and will take effect soon. When signed into law, the GDPR will become the most comprehensive data law on the planet, it will affect all business in Europe whether small or big, and it will influence how businesses collect data from consumers, including e-commerce businesses.

Even if you don’t do business in Europe, you still need to prepare for it because you may not be based in Europe, but the GDPR will affect you if you have European customers!

How does it work?

The GDPR gives more power to the customer over their data, allowing them to access all their information, change it, delete it, correct it or even prevent organizations from accessing it. So, essentially, with the GDPR in place, you need to be more careful about how you obtain and process people’s data.

What does this all mean?

The GDPR now puts you in charge of protecting your customer’s data and will hold you accountable if anything goes wrong. There has to be transparency when you collect and process people’s data. Under the GDPR, you will need consent to access or process your customer’s data. For example, a customer in the EU might email you and demand you clear out his/her purchase history from your store, under the GDPR, you must oblige this request.

What will happen if I don’t comply with the GDPR?

There will be consequences for failure to comply with GDPR policies. The Supervisory authorities in charge of enforcing the rules could fine you 4% of your global annual turnover. Your business reputation may suffer, and you will lose customers. If you’re in doubt of this, just ask Mike Zuckerberg 🙂

When does the GDPR take effect?

The GDPR will become effective starting May 25th, 2018.

What to do before it kicks in?

To get ready for the GDPR, you need to begin to make some updates to your business:

–    Revisit your privacy policy and your customer disclosures

–    Ensure third-party apps that you use are complying with GDPR rules

–    Consider appointing a Data, protection officer

–    Consider documenting data protection impact assessments

–    Consider revisiting methods used to obtain data and ensure they comply with the GDPR

–    Ensure you obtain consent from your customers before processing any of their personal data

–    Re-evaluate your business and determine if you will be able to comply with the GDPR rules.

Because every business is different, these aren’t hard proof steps to take for the new GDPR age, but they’re practical things to do to get you ready. The best advice here will be to consult with your lawyer so that you have a full proof backing and understanding of the GDPR and how it will really affect you.

In the wake of Facebook data privacy scandal, it is only logical that even more countries will begin to tighten the rules on data privacy in order to protect their citizens. This is one of the perks of living in the 21st century, to survive; we have to keep up with the trends, even if that trend is new data laws.

 

Keep selling guys!

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Last Wall Comments

 
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 Cyril says at 23:14 et
What do you suggest for product quality inspection?
 
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 Jeff says at 21:15 et
Can i get negative feeback removed??
 
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 Claudia says at 21:16 et
yes, JEFF. please see video about feedback removal. It's pretty easy to prevent negative feedback with followup series.
 
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 Optimus says at 02:33 et
love the course pals!! my question is what are tthe best Autoreponsder services to use to build the list and followups? sry for my question
 
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 Mike says at 02:34 et
Try Aweber.com , convertkit.com , getresponse, mailchimp or icontact. I used almost all of them, pretty easy, drag and drop email creation... Make sure to watch our video about Email Mastery as well ;)
 
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 Mike says at 11:59 et
Great quetion from Nasim, i wanted to share it and then my response. "This course is really inspiring me to open my own store. Can you give me one more suggestion. From your experience which one you think is better a specific product type or mixed product stores? "
 
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 Mike says at 11:59 et
There is no specific answer to this. You know Amazon itself is "everything store" and they are very successful. At the same time a lot of shopify stores are "one product only" or "one niche only". If you target specific niche (like pugs lovers, pug owners for example) then your store should have only products for pugs, because if they see the product for bulldog, they will be frustrated and leave). I hope it helps, but there is no RIGHT or WRONG way here.

I would suggest

1. If you go with "everything store" then research top competitor everything stores and make sure to sell similar products by similar prices. This will reduce chance of failure.

2. If you go specific niche, again use competitor spy tools and find out best selling products in competitor stores and duplicate them.
 
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 Mosquit says at 12:00 et
great question, thanks mike for sharing the tips. to Nasim good luck!!
 
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 Emma says at 12:04 et
Example of great everything store is chattuz.com
Example of great niche specific store is deathwishcoffee.com
 
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 Gautam says at 04:49 et
I want to open a store selling oils and alternative health products. Will there be issues shipping to the U.S. like customs?
 
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 Violet says at 04:54 et
It's hard to say, are you shipping in mass quantities or one by one? Usually anything for personal use does not go to customs. Best advice here is to find your competitors selling same and then ask their support something like "Hi, I am from Chicago, do you ship your oils to USA and do I have to pay any taxes?" So they will help you this way :)
 
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 Gautam says at 01:59 et
I guess in mass quantities; I can use the Amazon FBA so they can tackle customs. But for shipping one by one, from your answer, it seems I will not have issues shipping to the US or Europe. In India(where I live), however, they charge customs even if it is a single item and for personal use. So, I think I should be okay. I will use the trick you mentioned too. Cheers!
 
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 lou says at 05:09 et
I asked shipping agent, here is what they say "only one by one is OK. and there is a limits (no more than 30ML). Mass import to US not allowed"
 
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 Gautam says at 01:59 et
Thank you for your answer. Helpful!
 
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Sallyann says at 14:22 et
Hi there,
On my own I have set up my Shopify website with my domain, I have Oberlo and have imported lots of products and listed them, however, i am really not sure that they are worded right in the SEO way and I have been trying social marketing but still have no sales, I've been doing this for several weeks now. so I have just discovered Sells Like Hotcakes and thought that you may be able to help me with the marketing, the conversions and eventually with Amazon FBA is this something that you can do or because I have done most of the set up myself do you think I should continue on my own? I really am struggling to get past this rut where I have done everything I should do and no sales. Please help?

thanks in desperation!
Sallyann
 
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 Mike says at 14:24 et
Hi Sallyann, it's hard to suggest anything blindly. I suggest that you post your website here http://sellslikehotcakes.co/critics.php in critics and we can all give suggestions to you!
 
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Andres says at 05:23 et
*store, or do you guys have more than one store in shopiffy?
 
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 Mia says at 05:24 et
once you have a successful store you can duplicate it into other niches!
 
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 Aria says at 05:25 et
I am opening more stores too. why limit just 1. once the stroe is up and running no need to baby sit it, just launch the next one!
 
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Oliver says at 02:38 et
Thanks Emma, I got the logo done!
 
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Jay says at 04:06 et
is this course still up to date in regards to FB ads?
 
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 Mike says at 04:06 et
Yes of course!
 
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 Natalie says at 15:15 et
works great for me
 
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 Father says at 15:15 et
yes great tips there Jay!
 
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Rodel says at 06:46 et
Could I use Alidropship plugin instead of shopify?
 
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 rick says at 06:46 et
of course you can