How Not To Lose Your Money As A Business Owner

Starting up an online business is a herculean task, but it can make you a millionaire too – if you will be careful with what steps to follow.

Marketplaces like BuildaBazaar are giving tremendous opportunities to every business owner to scale their businesses and earn good money. However, without looking at the factors important for starting up an online business – one could dig deep into losses.

Here are some principles to follow, which certainly will help in not losing any money:

Using Search Keywords
Customers want to buy the product they want and are given a lot of options – search keywords being an important one. Getting into the mind of the customer is a good way to go about it. For example, if you want to search for “how to sell online’ – Use everything from ‘sell online, ‘online selling’, online sell, online sales, sell online in india, sell online india, etc – including typos.

Marketing On Marketplaces
Many startups expect the listing process would be immediately followed by hundreds of orders.  But, it’s very difficult to market your product on marketplaces as there is no actual interaction with customers. Go through seller help guides on each marketplace and make a detailed plan. Ninety per cent of marketing is done at the stage of listing the product.

Stay In Touch With Employees Of Marketplaces
Social media platforms, such as Facebook, LinkedIn and Twitter are there to get in touch with them. A lot of marketplaces help creative entrepreneurs increase their sales by promoting their products. Make them believe in your potential and convince them you mean business.

Sell Your Stories To Media
Aim at the bloggers for making recommendations. Make people who are influential speak about your product. The press always looks for good stories. Be persistent, but not clingy. Find journalists online and mail them your story.

Stay A Step Ahead Always
Investing in the right resources is crucial in beating competition. You have to compete with existing sellers. Many sellers on marketplaces are shopkeepers who have a set pattern and employees. Make use of the digital knowledge you have, that your competition doesn’t.

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