When you first started your online shop, you were pulling all-nighters at home to process orders and update stock, praying that your dodgy internet connection didn’t cut out on you again – all after working an eight-hour shift elsewhere just to keep your head above water.
Now you’ve swapped your spare bedroom for a swanky office, embraced life as a fulltime high-flying entrepreneur and watched as your business climbs from strength to strength.
But there’s no sitting back and reaping the benefits of your success quite just yet, no matter how tempting that thought may be.
The hard work isn’t over if you want to maintain momentum and transform your online shop into an online retail empire.
To help you on your way to entrepreneurial stardom, we’re sharing three tips on how to boost business in 2017.
#1: take care of your finances
Keeping tax records in order, processing payments, updating budgets and profit margins – staying on top of your growing pile of finance admin is quickly becoming your most time-consuming task.
And it’s only set to get worse as you start developing your shop internationally and mind-boggling exchange rates come into play.
Opening a multi-currency offshore banking account will let you handle it all with ease, so whether your customer drops hundreds of dollars or thousands of kroner, you’ll be able to process the transaction quickly and legally.
#2: give your website a makeover
Since you’ll never get to meet your customers face-to-face, you need your website to do all the sweet-talking for you.
Customers are more aware than ever before of fraud and online hacking so making sure your shop looks professional and trustworthy is essential. It may mean forking out for an expert graphic designer or web developer to give your site a makeover, but it’ll definitely be worth it.
And don’t be stingy about regularly updating key components either, like your shopping cart software. You never want to lose out on sales because your website is slow or confusing to use.
#3: keep up with developments
The online retail industry is constantly evolving, and it’s all thanks to a steady stream of technological advancements that show no sign of slowing down.
The only way of guaranteeing your business is performing to the max is to stay on top of developments. You don’t have to buy into every single new trend or all the latest software revolutions, but keep an eye out for the ones which will most benefit you in the long run.
At the moment, that means reading up on chatbots, the future of customer support and service – they’re set to take over retail.
You’ve already done the hard part, getting your shop up and running at the same time as establishing a firm customer base, but don’t rest on your laurels going into 2017 – follow our three tips and make next year your most successful yet.