As everyone is well aware, building up a successful Ecommerce business isn’t something that just happens. It takes work. Unfortunately, about 99% of people will fail with Shopify and it’s because the majority of them are making the same mistakes. Let’s break down the top 3 mistakes so that you don’t become a part of that statistic.
1. Preparing For Failure From Day 1
A large portion of your success comes down to the approach you have when starting. Let’s be honest, starting your own company isn’t necessarily easy. But if you go into this process only focused on, “How long until I make money or get a positive *ROI?” then your mindset isn’t where it needs to be. You need to be going into this journey with an open-minded approach. Learning should be your leading focus, while money is the peripheral issue. If you’re not failing, you’re not innovating. The average entrepreneur fails 3 times before achieving success. You shouldn’t expect to make sales from your first promotions. If you do then great, but as long as you don’t expect it you won’t be disappointed. If you become disappointed then your motivation will drop and you won’t be as optimistic as before.
2. Focus Ratio
For obvious reasons, people like to focus on the tasks that are easier to do. Building the online story is often seen as an easier aspect, whereas getting customers to actually purchase is a bit more difficult. Below is a simplified breakdown of what your time ratio should look like broken between sales, hot products, and store optimization.
- 50% on Sales: This includes launching new Facebook ads, looking at your Google analytics, and understanding your data.
- 25% on Hot Products: This focuses on assessing demand and ultimately finding a unique product that will keep customers’ attention.
- 25% on Store Optimization: This is where many people spend 80% of their time, which isn’t necessary. Apps like Timerly and RocketMessage make store optimization a much quicker and easier process.
(For more on this check out Seth Smith’s Youtube)
3. Quitting Early
Unfortunately, this is extremely common. Even if you’re unsuccessful with sales, make sure that you’re successful with understanding your data and how the market works. You may have to adapt and change your products or other aspects of your business, all while keeping those same successful techniques and strategies.
For any entrepreneur, you will have a larger number of failures than winners. But if someone else can start a successful business, then so can you. No sustainable and scalable business is built overnight. Failing is not quitting, but quitting is failing. Continue learning, understand those successful marketing strategies, all while keeping a healthy mindset so that you can become a part of that successful 1%.
Click here for more information on avoiding these Ecommerce mistakes.
-The Kamozi Team
*ROI = Return on Investment