5 TIPS TO KEEP YOUR ONLINE BUSINESS IN THE BLACK

5 TIPS TO KEEP YOUR ONLINE BUSINESS IN THE BLACK

It’s never been easier to create a successful online business. Online businesses are booming as people take advantage of low pricing, quick and easy shopping, and fast deliveries. If you’ve started or are planning on creating your own business, consider the following tips to keep your business in the black in a competitive market.

  1. OUTSOURCE

Don’t fool yourself into saving a few bucks short-term by doing everything yourself; outsourcing IT tasks and labour can save money and time for your business. Companies and contractors specialize in server management, online marketing, warehouse management and more which means they have all the right tools and skills to do a better and more efficient job. If you do decide to outsource areas of your business, consider investing in a project management tool, as this will allow you to ensure everyone can effectively communicate, even from different locations. MS Project has been shown to increase productivity for both internal and external teams, but there’s also Slack, Monday, TeamWork and scores of other suitable options.

  1. SEO

Your website needs to be Search Engine Optimized. That includes optimizing webpages you own, to creating a social media presence, and more. For low monthly fees you can have a professional manage your SEO for you, giving you measurable traffic to your website and increase in profit.

  1. MONEY MANAGEMENT

It’s important to remember that money management is key to success. If you don’t have any money management software, Mint.com has some great free tools, including an online budgeting tool that you can use for both your business and your personal finances.

  1. SOCIALIZE

Your business should have a great presence in social media, including at least one Facebook page, Twitter account, and be listed on Google Places. Be active by offering promotions and discounts, posting funny and relevant pictures, and generally keeping customers up to date on your business.

  1. PRICING

Most people think their prices need to be the lowest around. Really you just need to have reasonable prices and offer great incentives to your customers. Give them great customer service, free swag or shipping with purchases, and keep your content fresh.

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