Do you have an eCommerce business that you want to grow? You need to keep track of a lot of things, but that can seem hard. Here's what to focus on to grow your online business.
1. Use an Accounting Program
As your online business grows, you need to keep track of how much money you make. You can use a program like QuickBooks and input your income whenever you receive a payment. Then, when you have to pay yourself or other expenses, you can note those in your accounting program. If you find you don't have enough time, you can outsource your accounting, but you can do it yourself when you start.
Accounting software can seem expensive, but it's worth the investment to stay on top of your finances.
2. Manage Your Taxes
You should also set up a way to manage and pay your business taxes. Some accounting programs let you do this within their software, so you won't need something separate. For example, QuickBooks lets you track how much taxes you'll owe each quarter, so you can know how much money to set aside. Not paying taxes may not seem like a big deal. But if you make a lot, you could face some serious consequences.
Even if you don't have a ton of revenue, you do need to stay on top of taxes. That way, you can keep growing your business.
3. Choose the Right Software
You should also consider what software you use to run your website and online business. WordPress, Squarespace and Wix are a few popular choices among online business owners. Consider how technical you want to get with your online store and how much you can afford to run the store. Then, you can settle on a website host that offers what you need for your budget.
If you sell digital products or use software to design physical products, you should also stay up-to-date with that. Make sure you remember how to use those programs so that you can create new products in the future.
4. Batch Your Tasks
As your business grows, you won't be able to operate the same way as when you start your business. At this point, you should consider batching your tasks and perhaps automating certain things, like runbook automation. Batching and automation can save you time because you won't have to jump between tasks as often. So manage your marketing during the morning, for example. Then, use your afternoons to pack and ship orders.
Batching tasks can be hard at first, but it will get easier. Once you get in the habit, you won't have to waste time switching between tasks, but you can still keep track of everything.
5. Get a Stable Internet Connection
You can't keep track of a business you can't access. If possible, upgrade to the fastest internet plan available. That way, you can always access your eCommerce business and website. While you may not be able to avoid an internet outage, you should get as stable a connection as you can.
Stable internet will allow you to access your business and track it each day. Then, it won't be as big of a deal when you do have a short internet outage.
6. Hire an Assistant
As your business gets even bigger, it can get to be hard to do things yourself. So you might find that you need to hire some help. You can start by hiring an assistant who can do some of the tracking for you. They can handle your accounting and bookkeeping or manage your social media. Or they can manage all of the basics and report back to you. You can have weekly meetings so that you always know what's going on.
Then, your assistant can ask questions, and you can make sure they're doing what you need them to do.
Running an eCommerce business can be an excellent venture, but you need to keep track of everything. As your company grows, consider batching your tasks or even hiring help to make your business even more successful.