You put in the hours, have your business plan and orders are now starting to come through your website, Etsy store, or Amazon. Business is good. Or at least you feel that it should be. But you’re still feeling the pinch.
Online retailers and web-based businesses are susceptible to letting costs eat away at profit margins. Fortunately, this isn’t a death sentence for your company. With a little discipline and planning, you can increase profitability and prepare to scale your operations. Reap the rewards by following these 6 cost reduction strategies to increase your online business’s profitability:
Put yourself in your customer’s shoes: Would you pay the price you’re charging for your product?
Discipline reaps rewards
You have a great product and a growing customer base. Now is the time to tighten your operations and use these expense-saving tips consistently by incorporating them into your day-to-day operations.
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