$5000 to $30,000 per month - eCommerce Progress

[devine]

Control is important. One of my smaller brand websites has had a 24% price increase due to the current exchange rate. My supplier put my costs up significantly, now I have to raise all my prices and risk losing sales, but more importantly I can no longer offer my trade account margin and a lot of my customers are trade. Not able to gain product direct, lesson learnt. Unsure how to make the most of this situation now. I can only think of adding more content, more value and more accessories. It's unfortunate, but my other niche site far outperforms this so it's not going to ruin me.

How many products do you have?

Start with discounts:
$59 now ($71 full price).

I would attempt (it's thin ice) to increase the price for fewer products + additional % to slightly cover the lack of margins on other products. Then increase the price for what's left.

I would also offer specials and introduce new products to provide the alternative.

There are countless ways to smoothly increase prices without loosing customers.

 

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[Niptuck MD]

thanks

 

[bbrrookie]

Awesome progress! Looking forward to more success and more content.

Im sure youre gearing up for the holidays now. Best of luck!

 

[Chazmania]

Great thread man! I'm bookmarking and will be going back through it asap.

 

[Tom.V]

Another month over and.....

$103,000 in May! (margin target also met)

Finally.

A lot learnt this month, will put it into a post at some point.

Next target is $140k /mo and to do this consistently. A lot of things going on at the moment....

Hell yeah! Now you're in the big leagues. Before you know it you'll be cruising past $500k. Rep +

 

[Zefty]

Thanks alot man. I learn a lot from this thread.

 

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[LifeDreamn]

How do you like Klaviya? I just looked into it and it sounds great. I like the free trial along with the ability to scale to a very large contact list. Also, it seems like this system is geared more toward ecommerce compared to other systems like drip, convertkit, etc...

What has your experience been like so far? And would you recommend it for any and all ecom sites?

 

[Champion]

Hey, can you give us an update how your business is doing today?

 

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[biophase]

Hey, can you give us an update how your business is doing today?

His last update was 4 days ago?

 

[LifeDreamn]

I've barely got it implemented yet on the main site, but in trials it appears very good, way better than MailCheat(Chimp) at least!

Will be completing this on the main site shortly and after a few months should be able to give a better insight.

Awesome, I'm thinking about trying it. I got nothing to lose with a free trial period that alone beats convertkits trial. Especially with an abandoned cart. This alone can pay for the next tier after a few successful cart recoveries.

Thanks

 

[Champion]

Not much different to four days ago on my last update but we did have a big meeting today where we've started addressing logistics issues and streamlining the business.

Went quite well, our warehouse is packing way too slow but it was taken well and we're implementing a series of improvements to speed things up.

In the meeting I also discovered that my staff really want a new fridge, our small fridge stresses them out?! I've bought a new refrigerator, problem solved, more room for sandwiches?! haha. No one needs to stress out about bloody fridges.

But goes to show that you should have regular meetings and let people tell you their issues, big or small. Some things are easily resolved before something ridiculous escalates into an actual issue. Plus it keeps them happy

And if you meant in terms of turnover then last month we were at just over $80,000 revenue again.. pretty static, still struggling to break the $100,000 + mark. But I think with all the improvements we'll soon start smashing that.

Haha man, this is so inspiring and cool to hear from you talking about the business!

To see how it was started in January 2016 and today you're at where you're at.

Thanks for the inspiration and motivation you provide around here.

Best,
Champion

 

[Champion]

His last update was 4 days ago?

Didnt see it

 

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[Monkeycom]

Personal

• Need to find a work-life balance. Working too much really does affect everything negatively. Next year I really need to find some hobbies and improve my health. I'm always tired and achey and have a few health issues that I need to get resolved next year.

Dont underestimate that. It came back to my face hardly after the sale of my business.

 

[SparksCW]

Having a nightmare with business lately. Sales are down, traffic is down, everything's down.

Biggest thing I can say is never put too much effort into one product line or one brand, all of our efforts have been into one brand and now that brand is selling to a lot of resellers and our sales are down 50% on last year.

Unfortunately we've not spent any time building up other winning product lines so we're heavily reliant on these sales. Along with a few very bad decisions with website platforms and developers all in all we're officially "finding it a bit hard".

We're desperately trying to build up other product areas, but as we've been neglecting everything else it's going to be a case of trying to get sales back up before we run of cash.

The race is on.

 

[Paul David]

Great news well done!