Introduction
Diving deep into the world of ecommerce retail, it’s essential to acknowledge the journey from being a seller to evolving into a full-fledged business owner. This progression isn’t linear, but rather a series of predictable phases each seller navigates through.
Beginnings: The Start-up Phase
Everyone starts somewhere, right?
The initial phase of this journey is all about learning. Sellers invest time in understanding the mechanics of listing products on Shopify or Amazon, focus on product research and development while building crucial relationships with suppliers. “It’s kind of like getting the feel of the game and understanding its rules, isn’t it?”
Validation: Testing the Waters
Once the groundwork is laid, the next step in the journey unfolds. The product validation phase is where sellers bring their first product to the market, aiming to “test the waters”. It’s the litmus test for a seller’s skills and the product’s viability. Success at this stage is not guaranteed, but it’s a critical learning experience nonetheless.
This phase is like a reality check for most sellers looking to grow bigger.
Building: The Brand Consolidation Phase
With a successful product, sellers enter the brand consolidation phase, launching additional products that complement their initial offering. It’s not just about adding to the product line but building a brand, perhaps unknowingly.
This phase sees sellers gradually establishing their brand, experimenting with different distribution channels and potentially exploring other marketplaces. “
It’s the beginning of something bigger, but you need to get the foundations right in order to scale.
Decision Time: Scale or Sale?
Reaching a decisive juncture, sellers now face a choice: to scale or to sell? With a successful business in hand, sellers may opt to expand or contemplate selling their venture.
This phase necessitates significant investment in software, team development and system creation, as sellers remove themselves from day-to-day operations. “
This is where the business truly takes a life of its own and the owner can step away from the day-to-day grind of business operations.
Mindset Shift: Technician to Owner
One can’t ignore the significant mindset shift during this journey.
Initially, sellers often act as technicians, mastering the technical aspects of selling online. However, as they progress, adopting a business owner’s mindset becomes crucial.
This transition is non-negotiable for those aiming to build or scale a sustainable business on the platform.
The Big Shift in Perspective
Isn’t it interesting how technicians see themselves primarily as sellers of product, aiming to earn margins by selling products, while business owners view online retail as a legitimate, scalable venture?
This shift in perspective is not just necessary but vital for long-term success of an ecommerce business. it’s all about seeing the bigger picture.
Conclusion: Embrace the Transition
Navigating through the ecommerce business journey requires a careful mindset shift from a technician to a business owner. Recognising and understanding each phase of this journey, while acknowledging the need for this crucial transition, sets the stage for sustained success in online selling. After all, it’s not just about selling products but building a business, right?
With the right mindset and approach, significant success isn’t just a dream but a very attainable reality for online sellers.
If you are looking for specialist ecommerce expertise to guide you on your business journey, Intrepid Advisory can help. Contact us today to make that next step.