Are These Bad Habits Ruining your E-commerce Business?

Hello!

It’s another great week again.

Today, let us look at bad habits preventing you from succeeding. Habits are routine behaviors which are repeated continuously. They usually have a bad connotation to them. Although there can be good and bad habits; we will look at the bad stuff first 🙂 As an entrepreneur and an individual, certain habits make up our personality and consequently these routines can affect our business, relationships and personal lives. Everyone wants to succeed, but this isn’t always the case. An accumulation of decisions and poor habits which aren’t corrected are to blame. Let’s look at some of the bad habits that can inhibit success when it comes to the e-commerce business.

1. Failure to Create Business Policy and Strategy

Going into anything without a plan is a terrible idea! This is just an offspring of another terrible habit –laziness. The policy and strategy of your business is one important ingredient for success. This is the reason we suggest you write a good business plan; no matter how small you think your business is, it wouldn’t hurt to do a bit of strategy and planning. A business plan is a helpful roadmap to track the progress of your business and swiftly identify deficiencies. This is truly necessary if you intend to scale your business and grow. Failure to create a well thought-out business strategy/plan is the perfect recipe for disaster.

 2. Scattered Concentration

In the e-commerce business, there are a plethora of things one needs to have in mind, for the smooth running of your business.  This may cause you to scatter your energy in different directions and end up not achieving much. It is the sole reason why we insist you learn how to prioritize and put your biggest needs first, or else you will end up not gaining any important ground in any area.  There’s a reason they say “the Jack of all trades is the master of none.”

 3. Overconcentration

You may also be plagued with the issue of concentrating too much on only one problem to the detriment of other areas of your business. It is the opposite of our previous point, and it isn’t good as well. You should be able to strike a balance in your business, so that all areas are well handled, ensuring you avoid deficiencies.

4. Dishonesty

You must ensure your e-commerce business is centered on the values of integrity and trust. In the bid to impress potential customers, a lot of sellers often fall into the bad habit of over-promising and lying to the customers; your dishonesty will only lead to mistrust and you are guaranteed those buyers won’t be coming back! Commit your resources to the goal of keeping your promises to your customers and retaining your integrity. This will attract more buyers to your brand and keep your existing customers loyal. Be honest with yourself and your customers about your services and products.

The faster you detect and stop these issues, the greater the possibility of you being able to drive your business to your dream destination of success and profits. I hope this helps you revaluate your e-commerce business this week so that you can position yourself for better results.

A lot of great things are still happening on the WALL. For specific advice, tips and tricks for your Amazon and Shopify business, sign up and roll with the experts on our GREAT WALL here.

Have a great week ahead!

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Last Wall Comments

 
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 Sandra says at 22:59 et
Good morning, I'm Sandra from Spain.. I have been following your course for 3 weeks and must say SUPER WORK! VERY HELPFUL AND DETAILED even for tech newbie like me.. Keep up great work!
 
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 Ethan says at 21:01 et
i look to scale up my business and get more help.. where to find assistants?
 
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 Evan says at 21:01 et
Check great filipinos workershere onlinejobs.ph and assistant on Upwork, freelancer.com and fiverr!
 
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 daniel says at 21:27 et
What do I need to have to sell in EUROPE?? in pan european seller central
 
Claudia says at 21:27 et
Business registration in an EU country or company in EU, VAT registration in every country where your inventory is held, (usually its UK, Germany, France, Italy, Spain, Poland, and the Czech Republic) Also need CE certification. then you do in future also Annual income tax filings in your EU registered country, Monthly VAT filings in your registered countries, Annual, quarterly, or monthly filings of your activities with Interstat (the frequency depends on your sales volumes), A continuous customs bond for Schengen countries.
Continuous customs bonds for non-Schengen countries (basically the UK). There are companys that handle all that paperwork like FBA-Hero, check resources sections..
 
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 Victor says at 21:36 et
What app allows to share reviews on facebook?
 
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 Evan says at 21:36 et
Check www.yotpo.com, Judge.me, Stamped.io (recommended) also SocialShopWave - lets collect more ratings and reviews by giving your customers a beautiful, simple, mobile-first reviewing experience. You can embed reviews into blogs, facebook etc
 
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 freedom says at 21:48 et
How to automate my FB social media posting?
 
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 jo says at 21:48 et
Try buffer.com to schedule, publish and analyze all your posts in one place
 
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 Caleb says at 00:54 et
Very excited to meet many of you guys at Traffic and Conversion summit in san diego!! You are crushing it!
 
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 Samuel says at 00:55 et
TLC2017 rocks.. rian dies and perry belcher on fire. By the way Perry is also doing sourcing from CHINA! this topic is on FIRE !!! he is doing 20 million with his strategic knife sales this year and expanding.
 
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 Ted says at 00:56 et
True, ecommerce is growing really fast. It's a golden time to start!
 
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Leslie says at 14:32 et
Thanks Diego. I did think of that. Easier to change niche than fight the crocodiles.
 
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Jan says at 01:27 et
Hey guys, how valid are the estimated sales per month in the best seller finder?
 
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 Uncle Sam says at 01:28 et
They are pretty good, you must understand that real numbers only amazon knows, all the tools can use the estimates based on the BSR approximation!
 
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Jan says at 22:47 et
Hey guys, thanks for the great course! Dont know how to say, but I have a strong thinking within myself, that it is too late to start. I know that this will probably be only a belief. Any ideas for helping me with this issue?
I am also looking for products but it's really hard to find something with the criterias the course is telling me.
What about you guys? Are you thinking similar or I am the only one here? :)
 
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Claudia says at 22:51 et
hi Jan and welcome. "is it too late" is the common fear of everyone that is getting started. What you really fear is "is it too much competition? what if my product does not fit all the criteria"? The truth is, there will be never an ideal product that fits ALL criteria. Criteria is an indication for you in which direction to look, but it does not mean that you must find ideal product that fits ALL criterias at the same time. This will never be the case.

This year is amazing time to start ecommerce, because so many new tools are developed and released and with new amazon review policies it's getting harder for low quality sellers just to buy tons of 5 star reviews and flood the market like it was last year. So i think it's getting even easier for people to stand out when most of those low quality sellers are banned for incentivize reviewes.

The great place to start looking for ideas is "Niche finder tool". http://sellslikehotcakes.co/niche_finder.php for example who know that baby towels or corner flags might be a great idea to sell? This will give you great ideas on how to find a product!
 
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 casey says at 22:52 et
Great points there... is it too late to learn new languange? too late to start a business? You set your own limits. Maybe late for you, but i will start my 4th product this year and i dont look back. more business for me :)
 
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 Mike says at 01:39 et
The right time is NOW. Amazon is BOOMING. Jeff Bezos becomes second richest person On The Forbes 400. The gold rush time is NOW.
 
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Jan says at 00:04 et
You are all right guys. Deep inside myself I know that it could and will work. For no other reason I signed to the course! Thanks a lot for your input!
 
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Ivan says at 13:07 et
Prompt what is to be done, how it works? I am from Russia and I do not know much English.
 
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Claudia says at 13:08 et
hi Ivan and welcome. Follow the course here http://sellslikehotcakes.co/videos.php - each lesson has a transcription that you can read if you have hard time understanding spoken english!
 
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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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 Mike says at 05:03 et
Hi guys, several new videos were added to the course on product selection and shopify apps! Enjoy!
 
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Clay says at 16:29 et
How current is the information on the FBA fees and top sellers/total sales? I have another product that I am using and there is a big varience between the numbers.
 
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 Mike says at 16:31 et
Its auto updating Clay. It will be alwayas a varience as there is no right or wrong way to calculate it, the real numbers only Amazon know.. What we or Jungle scout do is just approximation based on BSR to get an educated guess on sales
 
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dilini says at 19:04 et
hi, i am sri lankan. In sri lanka it is not allowed paypal and stripe still. for that i can use local intrenational payment gateway. But is there any option by opening amrican bank account to connect to world wide accept IPG? Thanks..
 
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 Kylie says at 19:13 et
also search for local facebook groups, there must be people from sri lanka doing shopify and you can join them as well to get some local advice!