How do you take your business from $1M to $10M? From $10M to $100M? Adrien Levinger (CEO at FAVsolution) and Russell Walraven (CMO at SellersFi) connect for an interactive discussion on the steps a brand or business needs to take in order to achieve that next level of success.
Doing what is necessary to take your business to the next level can be daunting (and expensive).
Often, it means a mindset shift from just selling products to providing an overall customer experience. This is reflected in everything from your products to your packaging to your loyalty programs to your website infrastructure.
Unlock Your E-commerce Potential
If you’re more of a reader than a watcher, catch up with our TL;DR recap of the live webinar below.
- When starting an online DTC store, many brands will build themselves. Once they hit a roadblock, they’ll outsource to someone to fix that particular obstacle. If another obstacle comes up, they bring in another person to fix it. This often results in a Frankenstein’s monster-esque website, making scaling difficult. The recommendation: Take a step back and clean up your website and infrastructure.
- Brand owners and decision makers often make these decisions based off of gut feeling or emotion. The recommendation: Remove both of these from the equation, and make decisions based off of actionable data.
- No one can be an expert at many things. Thus, proceed with caution when you interact with businesses that claim expertise in marketing, development, P&L, etc. The recommendation: Work with someone you trust who is transparent in bringing in additional resources.
- All platforms and online marketplaces were not created equal. Expanding your business to one of these other platforms does not mean doing the same thing everywhere. The recommendation: Find a product feed tool that allows you to customize to different marketplaces to ensure your message is getting across in the right way.
Adreien’s Two Key Takeaways:
- Keep it simple. Don’t get too big for your boots too quickly and try to do too many things at once.
- Make decisions based on data, not on gut instinct.
Don’t be afraid to grow your e-commerce business! At the end of the day, take your time and do it right. Outsource to the experts that can help in areas where you don’t succeed.
You’ll need capital, which is where SellersFi comes in. With no business use restrictions on how you use your funds, you can hire companies like FAVsolution, or work with any of our other preferred providers to unlock your e-commerce potential.
