Many people have made the shift to online business out of necessity or at least they were given an urgent nudge thanks to a certain virus we needn’t mention. Some quickly scrambled to get their business online just to stay solvent at a time when everything was locked down. Others began experimenting, learning how to sell products online from home as a side-hustle, not knowing whether their idea had legs, and thus not making any long-term commitments.

Well, now we’ve entered a new phase. Everything is reopening and yet consumer behavior is predicted to stay more or less the same. It’s time to level up your business by transforming your quick-fix solution into a sustainable business model so you can stay competitive.

How to shore up your home-run business

    1. Acknowledge that you will never be Amazon – and that’s a good thing

    Time to face the facts: there will always be a seller out there who can sell a similar product to yours for cheaper and deliver it faster. And the chances are that seller is Amazon. Making it your goal to compete with these major sellers is never the answer.

    Find what makes you different from other sellers, and market yourself around that. As a smaller enterprise than Amazon, you can excel in excellent, personalized customer service, for example. Are you a small, family-run business? Do you sell unique products? Are you a black-owned or minority-owned business?

    Reporting to Washington Post, Justin Moore, general manager of Uncle Bobbie’s Coffee and Books in Philadelphia, noticed that the people who have kept their business afloat are consciously choosing to support independent businesses.“Customers are going out of their way to not only purchase books from independent bookstores themselves but to encourage their friends and colleagues to do it as well. It’s been very much a community-led initiative.”

    Make sure your business language reflects what makes you unique and invite your customers to be part of your community.

    2. Build relationships with your customers

    Speaking of inviting them into your community, don’t let the digital divide get in the way of creating relationships with new customers. Though it might feel less natural than face-to-face interaction, customers still appreciate the personal touch. For small businesses, this is much easier. Send a customized note or drop a message to let them know you’ve received their order, and don’t forget to leverage social media to have one-on-one conversations.

    Mid-sized businesses need to be a bit more creative, but you can still go a long way by creating a virtual environment that speaks directly to your customer’s needs. Using the correct business language (through custom web design and copy) you can make your customers feel as though they are being spoken to directly.

    3. Set your prices fairly

    Selling products online from home is a great way to keep your overheads low. Even so, online sales tend to be less profitable. Fulfillment and delivery costs, returns, and exchanges can all be a drain cutting into your margins. Make sure that you price your products fairly to compensate for this.

    If you want to keep your prices competitive, find other ways to cut the costs of running your business. Can you manage your workflow better and put systems in place to minimize company expenditure? Make the necessary changes to improve efficiency and make your home-run business sustainable in the long term.

The quick fixes you’ve made to your business have kept you afloat so far, but you need the help of a business mechanic to make sure it can withstand the long-haul journey ahead. Discover what necessary steps you need to take to elevate your business to the next level. At jdp, we’ll put a handcrafted plan in place to set you on course towards your business goals. Get in touch for your free consultation now.