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| How to Fund Your Business Start-Up? Posted: 27 Jul 2019 12:26 PM PDT  Few ways in which one can fund their start-up business: 1. Factoring should be considered:This is the most important thing that should be considered. A company sells its receivables to get cash up-front and that too at a discount rate. It is very frequently used by companies with poor credit or by businesses such as apparel manufacturers that have to fill orders, but it is a too expensive method to raise funds as the company selling the receivables generally pays the fees which eventually is a percentage of a total amount.Here is an example that if one pays 2% fee to get funds 30 days in advance, then it is equivalent to an annual interest rate of about 24%, and that is a big reason why a business goes down and the reputation becomes worse over the years. 2. One should get a Bank Loan:Although the rules of the bank lending standards have got much stricter, there are still many banks that give additional funds for small businesses. The loan is definitely one of the most efficient ways to fund a start-up business.Even the credit score plays a very vital role in applying for a loan, but that doesn't matter because some businesses having a bad credit score can still get qualified for a loan. One can always take a loan from lenders, like the ones reviewed here: https://letmebank.com/no-credit-check-personal-loans/. Check them and choose the best loan facilitators. 3. Using a Credit Card for raising funds:It is an utter risky job to use a credit card to fund your business because if you fall behind on your payment, then there is a high chance that the credit score gets whacked, and on the other hand, if one pays just the minimum each month, a hole will also be created where one can never get out of, but responsible use can ensure that one gets out of the occasional jam and even extend the accounts payable period to increase the cash flow.4. Crowdfunding:This practice can be an absolutely fun and effective way to raise money for a relatively low cost yet creative project. For example, if you set a goal for the amount of money one likes to raise over a period of time, then all of that person's friends and family will use the internet to pledge money.5. Accelerator or Incubator:Accelerators and Incubators have sprung all across the country. These comprise of two parts, namely one being the communal workspace and another is for the mentorship development centers. While partnering with some amazing people, young businesses can get a great start here.It has some downsides as they are mainly focused on heavy tech businesses. Thus, one needs to struggle hard to find that perfect one for their company. Conclusion:These are a few basic ways in which one can fund their start-up and fulfill their dreams of starting their own business. It doesn't only give them the motivation but also enough enthusiasm to move forward with their business.           |
| 4 Dropshipping Tips to Skyrocket Your Ecommerce Sales Posted: 27 Jul 2019 11:50 AM PDT  Running a dropshipping business offers some advantages that other business models do not have. With dropshipping, you don't need to worry about your product inventory, fulfillment, and managing returns (among other things). For the most part, you only need to focus on finding products and marketing/selling them. If you want to know how to take your dropshipping sales to the high heavens, then check out these five dropshipping tips to skyrocket your ecommerce sales. 1. Automate Your Business ProcessesAutomating your processes allows you more freedom to work on other aspects of your dropshipping business.Not only that, but it also helps streamline your business, making it a lot less painless for you to run your ecommerce store. With ecommerce solutions like Oberlo, integrating products to your ecommerce store from suppliers can be easier and quicker with its automation features. When browsing in Oberlo for products that you can sell, all you need to do is click on the "Add to Import List" button on the products that you want.  The product information, along with its marketing materials, will then be imported to your Shopify store. You can also use the Oberlo Google Chrome extension to import products from the Aliexpress website by clicking on the import icon.  Once the product details are added to your import list, you have the option to edit the information such as the descriptions, variants, and images on the import list page or your Shopify store. These automation features can streamline your product integration process, which, in turn, can help you sell, scale, and grow your dropshipping business easier and faster. Aside from these features, Oberlo gives its users its unyielding support by sharing a comprehensive guide on dropshipping that can answer their users' burning questions about the business model. 2. Employ Retargeting TechniquesThere are elements in your audiences' buyers' journey that could make it challenging for you to convert your first-time website visitors to click your "Buy now" buttons. (e.g., competition, distraction, product price comparison, etc.)That's why retargeting is important. Retargeting can be an excellent ecommerce marketing strategy to recapture those who previously visited your ecommerce website without buying or acting on your conversion goal. One way of retargeting your visitors is by displaying relevant ads based on their previous interactions with your website on social media, other websites, and more. A good strategy to recapture your website visitors with ads is to use online tools like Google Adwords to implement a remarketing campaign. The Google Adwords solution allows you to create a remarketing campaign to recapture your audience when they browse YouTube, Android apps, and websites that are included in Google Adsense or the Google Display Network. Here are several ways you can use Google Adwords to remarket:
Retargeting allows you to recapture your seemingly "lost" audience by reminding them of their initial interest in your products and luring them back to your store to complete their purchase. 3. Improve Customer ServiceIf you want to succeed in your dropshipping business, then you need to stand out and dominate your competitors.One way of doing this is by providing excellent customer service. The kind of customer service you offer can affect your customers' experience with your brand, which makes it essential for you to provide them with a seamless experience. It can also be a way to understand your dissatisfied customers, the issues they have with your products or services, why they stopped buying from you and help you learn what to improve on to address these concerns. An excellent strategy to improve your customer service is by using contact forms on your ecommerce website. With online tools like Jotform, you can create your contact forms from scratch or use the templates that you can embed on your ecommerce website. The tool offers drag-and-drop features to build and customize your contact forms.  You can also modify the form's settings like the language, create conditional logic, integrate third-party apps like PayPal, and even add a "Thank You" page once your customers submit the form.  The tool also offers different options for you to publish your contact form either through direct links, embedding it on your ecommerce site, or through third-party apps and software. Contact forms can make it more efficient and easier for your customers to leave you messages without having to look up your contact details and open their email accounts, allowing for seamless customer experience. Providing excellent customer service can help you retain customers, build your brand's reputation, receive fewer complaints, and establish trust between you and your customers. Remember that aside from providing your customers with quality products, their experience buying from you can also affect their decision to purchase again and bring you more sales. 4. Increase Organic Traffic Through BlogsA good bit of dropshippers are now relying solely on paid ads, that they forget how crucial it still is to publish helpful content.By publishing blog posts that address your audiences' pain points and their needs, you become an authority in your niche, making it easier for your audience to trust your brand. Publishing blog posts is also an excellent strategy to optimize your ecommerce site for the search engines so you can rank for keywords that can bring you targeted traffic. For example, by using online tools like Wordtracker, you can check out what topics people are searching for.  The tool can give you information such as the keywords' average search volume, the number of web pages where the keywords appear on both the backlink text and title tags, plus the organic competition for the keyword. The tool can also show you related keywords which you can add to your keyword search. Doing this can tell you which keywords people search for, gain insights on what topics you can create your blogs and other content based on the keywords, and determine which keywords to use for your SEO strategy. Think of it this way. When your blog posts are keyword optimized, the higher your chances are in ranking in the Search Engine Results Pages (SERPs). The better your ranking is, the more qualified traffic you can get from the search engines. Driving traffic to your blog isn't the only SEO strategy you can use to get more sales, however, it's certainly an effective approach that even seasoned dropshippers take the time to use. Final ThoughtsThere isn't a one-size-fits-all approach to succeed in dropshipping.Depending on the dynamics of your business, your marketing/selling workflow can be as intricate or as simple as it can be. Even having said that, however, the points above are tried and tested to have worked. If you are keen on seeing the sales figures of your dropshipping business go up, then take the time to implement the tips now. Cheers!     |
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