Things to Consider Before Starting an eCommerce Business

Launching an eCommerce businesses can be great way to get your start in business, due in large part, to the low overhead costs. Of course, costs can vary depending on your industry but you will find that an online business is often much easier to manage and will require less startup cash, compared with brick and mortar ventures. If you are currently thinking about starting your an eCommerce business, whether that’s to sell physical or digital goods, subscriptions or anything else, have a look at some of the points below to determine if it’s something you can manage.

Start Up and Running Costs

Even though the start up costs of an eCommerce business can be small, you’ll still want to make a business plan and list everything you’ll need. One of the biggest advantages of eCommerce businesses is that they can be started from the comfort of your own home, and as the business grows you can then think about office and warehouse premises depending on your requirements. Some start up costs involved when starting a new business online are outlined below.

• Business registration (you will need to choose one of the different types of business entities)
• Website design and development
• Web hosting and maintenance
• Marketing and advertising
• Inventory and storage
• Business phone & utilities
• Office supplies

Of course, there will be more to consider and your level of seriousness will determine how much you choose to invest initially. You may even want to hire a small unit that is close to a post office so you can easily pack and post goods with ease.

Finding Suppliers

One of the hardest things to do when starting a business in the world of eCommerce is finding a reliable supplier that can provide you with the products you want to sell. The supplier needs to be reliable for a start, but they will also need to be cheap enough for you to be able to make a profit. This is when a big investment is handy because you will be able to buy products in bulk which will give you much bigger discounts, thus making you more profit.

Customer Support Methods

You will need to be able to provide the best support to your customers to make sure your business is a success. You will need to think about this step carefully, because you’ll want to be able to provide support via a variety of methods. Phone support is a good start, but you will also want to consider email support, and a support ticketing system for customers to take advantage of. Providing a variety of support methods will do you many favors, but it will also take a lot of time out of your day responding to requests, so you may eventually have to hire someone to help out.

The above points are just some of the many points to consider before diving in and starting your eCommerce business. It will be a lot of hard work, but if you start with a good business plan and set yourself monthly targets, there is no reason why you can’t profit from a successful eCommerce store.

The post Things to Consider Before Starting an eCommerce Business appeared first on Blogtrepreneur — For Busy Entrepreneurs.

Blogtrepreneur – For Busy Entrepreneurs

Things to Consider Before Starting an eCommerce Business

Key Things to Consider When Choosing an Office Space

Choosing an office space is both a blessing and a curse. On the one hand, there are all the opportunities your new space offers for growth, cost savings and culture development; on the other, there are all the worries and challenges to be tackled before moving day.

To help you overcome the daunting and focus on the inspiring, we’ve put together this list of key questions to ask when choosing your new office space.

1. The Location

Is it convenient for staff and clients?

The most important factor when picking your location is convenience for employees and clients. If your offices are tricky to find, difficult to get to or simply miles away from key staff members, you risk losing customers or valuable members of your team. To avoid this, give employees a say in selecting an area, and make sure you’re easily accessible to top clients.

How good are the transport links?

Picking an area with good transport links is one way to ensure you’re easy to reach. An office within walking or cycling distance of an underground, train or bus station is a great start; however, be sure to also check local timetables and the popularity of these routes. It can be helpful to map out the daily journey of a few employees – how comfortable would you be with their commute?

If most of your staff drive to work, take a look at local traffic patterns during commuting hours. Endless traffic jams will be an ongoing stress for you and your team.

Is the area safe?

Can employees and clients walk safely to and from your offices? It might be tempting to take a cheaper space in a rougher part of town, but it could affect the happiness of employees who walk to work each day, or even leave a poor impression on clients arriving for face-to-face meetings. There are plenty of free interactive crime maps online to help build up a picture of potential locations.

What’s on offer locally?

It’s always a good idea to have a wander around the neighbourhood, either in person or using Google Maps. Find out what the area has to offer to get a fuller sense of what it’ll be like to work there every day. Are there a few great places to grab some lunch? Is there a gym nearby? Do you pass a supermarket on the way to the station? All of these local amenities and more will have a real impact on the lives of your employees.

What impression will it give?

It’s no secret that image is important, so ask yourself what impression the area will leave on potential clients and new hires. Cutting costs is smart, but not if the resulting space undersells your capability. Equally, lavish overspending could leave clients questioning your business acumen.

Try investigating the offices of local businesses of similar size, ideally in your industry, to set realistic goals on the type of buildings and location you should be aiming for.

2. The Building

What’s the condition of the building?

Whether you’re buying or renting, ensuring the building is in satisfactory condition will save you a lot of hassle in the future. If you’re renting, checking the condition of the building can also reveal whether your landlord takes maintenance seriously. Ask existing tenants if they feel well looked after or arrange a viewing at short notice to dig deeper into the service you can expect.

Is it secure?

Whether it’s confidential information or expensive equipment, losses from theft can be a real setback. What’s more, in most cases, security is simple to get right. Make sure doors and windows provide reasonable protection, and find out what other measures, such as alarms, CCTV or security personnel, are in place. If you have special requirements, check that these can be met.

What common areas and services are available?

When renting alongside others, some common areas are usually unavoidable, others might be desirable. Find out what’s provided, how much it will cost and whether these areas are included in the stated floor area beforehand. If the office is serviced, be sure to clarify precisely what’s included, so you can ensure you’re getting your money’s worth.

How is the infrastructure?

For many companies, office infrastructure is now as important as floor space. Top of the list is the cost, quality and reliability of your internet connection. If there’s already a connection in place, find out its real speed using a free online broadband test. Also, check telephone connections, including the easily forgotten but ever important mobile signal, and postal services, especially whether there’s easy access for your favoured courier.

For some, another vital concern is the building’s green credentials. In this case, you’ll want to evaluate construction methods and materials, energy efficiency, waste disposal procedures and more.

Is it accessible?

Firstly, if you’re renting, make sure your office space will be open and available whenever you need it. Secondly, check the building meets legal requirements for disabled access, and any special requirements of your own staff.

3. The Space

Is it big enough?

An absolutely critical question without an easy answer. The rule of thumb suggests you’ll need anywhere from about 125 ft² to 300 ft² per employee, depending on the type of office you intend to build. Of course, a space filled with large private offices and conference rooms will take you to the upper end of that range. An open office or cubicle environment will minimise the space needed per employee. If you’re searching in London, try this office space calculator for a quick estimate.

It’s also important to factor in growth alongside the length of your lease – will you be hiring more people before the end of the year? On top of all this, don’t neglect other vital areas, like file rooms, storage rooms or space for employee lockers.

Is the layout right for your business?

It’s not just the amount of space that counts; it’s how you’ll use it. Can you visualise a layout that will work for your business? The trick here is to spend some time at each possible location. If you’re still struggling, try using an online floor planner like Room Sketcher, or simply mark up a layout with tape, newspapers or whatever’s to hand.

How much freedom will you have?

Before getting too carried away with your dream layout, it’s best to find out just how much freedom you’ll have to change the décor. Using the space to support brand identity or company culture may be high up your list of priorities, but it’ll be a struggle if you can’t paint the walls. If you’re given free reign, are there any conditions set on how to leave the space once the lease is complete?

Is the ambience right?

What researchers call ‘ambient factors’ are consistently shown to have a clear impact on employee happiness and productivity. These commonly include everything from temperature and air quality to noise levels and lighting. Essentially, those factors that go unnoticed until there’s something wrong, at which point they become an inescapable nuisance.

Is there room to grow?

As obvious as it might seem, this is an easy one to miss. It’s extremely frustrating to create the perfect office only to be forced to move a short time later. If you hope to grow, think ahead.

4. The Cost

Is the property good value?

It’s often difficult to judge a fair market value for commercial property. You might be able to estimate the price of a residential property in your local area, but the factors affecting office rents are more complicated. Information is the key to making an informed decision. If you’re searching through a property agency, ask them for information on similar deals in the area – it’s their job to know the market. Otherwise, researching similar properties online will give you a basic grasp of the area, and how your offer compares.

Are there any hidden costs?

Firstly, be aware of the various floor area measuring practices – GEA, GIA, NIA or the newly standardised IPMS – as confusion here may lead to some nasty surprises. Next, find out the business rates in your location, check which utilities are covered by your rent and if there are other building service charges. Finally, take account of any one off costs, such as legal

Key Things to Consider When Choosing an Office Space

Five Things I Learned In Five Years

According to the US Department of labor—the average tenure at at job for 2014 is 4.6 years. In less than a month, I’ll be celebrating five years at Edelman, so I thought it would be a good time to reflect in what can be learned in five years, not just on the job but in life as well. I’m a big believer that looking back can help you look forward, so here are are a few things I’ve learned over the past five years. 

Mentorship Comes In Many Forms
The traditional image of a mentor is someone who takes you under their wing, puts time aside for you, and imparts wisdom—often a more senior person who you view as established or experienced in areas you yourself seek experience in. But mentorship is really another way of thinking about relationships, and growing from them in the process. I can think of several relationships I’ve established in the past five years both with people senior to me and junior alike, where I learn and grow from. As a result, I’ve come to view mentorship, both giving and receiving it a bit differently. It’s a mindset about relationships more than a formal arrangement. 

Travel Requires Discipline 
I do my fair share of traveling. Not as much as some of my colleagues or peers outside of my company but also more than others. One thing I’ve learned over the years is that it requires discipline. Sleep, food, drinks, work and even socialization—they can all be overdone or just the opposite. Business travel requires a certain level of discipline and balance as it represents a state of living, that isn’t the same thing as your everyday life (unless you indeed travel every day) and stresses like flight delays can sometimes threaten to throw the balance off. I’ve found that all things in moderation help keep the road from getting the best of me.

The Enterprise Adapts (And That’s How It Should Be)
Five years ago, tablets weren’t even introduced in the market and when they first arrived—they weren’t seen as viable work devices. Today, it’s a different story and the same goes for mobile devices of all shapes and sizes. We’ve moved beyond work happening on desktops and laptops, and our IT and infrastructure has had to adapt whether they wanted to or not. A lot of technology change happens in five years. 

We Are A Collection of Our Experiences 
When we have new experiences, we grow. My biggest professional growth spurts in the past five years either happened from taking on a challenge that was a stretch from my core competencies, jumping on a project or engagement doing something I had not done before. Once we do it—whether we «succeed» or not, we learn from the experience. And learning is growing. 

You Have To Make Time For Yourself
The higher you move up in an organization, the more people expect you to give of yourself. Giving is a noble thing and many of the great leaders I know are generous with their time, knowledge and attention. But nobody is going to help you make the time for yourself to replenish your well. I’ve learned to block out some time on the calendar so I can catch my breath—on weekends, I’ll huddle in my office or a coffee shop. In the past five years especially, I’ve learned that time is precious and should be treated as such. 

Five years is half a decade—no doubt that I’ve still much to learn, but it’s definitely more fun learning by being surrounded by great people who strive to do great things. 

Related articles

Developing a successful mentorship program

Societal: The Third Dimension Of Modern Day Brand Building

Three Things Consumers Want From Brands Today: Responsiveness, Involvement and Conviction

Brandshare: Is The Value Exchange Between Brands and Consumers a Myth?

Responsive Brand: Chevrolet’s #Technologyandstuff

Logic+Emotion

Five Things I Learned In Five Years