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Long Term Business Success

     There are businesses all over the world that have lasted for hundreds of years. But, there are also some businesses that are gone in a few years. What's the difference between them?

Stores

     If you want to stay in business, you must take personal responsibility for the protection of your website. This is a no brainer. Even so, a number of people are relying on someone else to handle their websites. A blog is a common example. Almost every blogger puts content on free blog websites and has no backup. When the free blog site is gone, the content will also be gone. You shouldn't put your life in the hands of free services.

     Moreover, you should sell your products on your own website, although you can sell your products on online marketplaces (i.e. amazon or ebay). Selling products entirely on those marketplaces makes your life depend on them. One small decision they innocently make could end your business. To be independent, you have to generate sales on your own website, and sales on each marketplace should be less than 5% of your entire sales.

Lists

     Acquiring new customers costs way more than keeping existing customers. This means that you need to have a customer list. This is one of the basic must-haves of running a business. On top of that, for online businesses, creating your own email list is crucial. These days, there are different ways to keep in touch with customers, like facebook and twitter. However, you can have 100% control of your own email list. You can contact your customers without being interfered with by a third party's policies.

Value

     Dirty marketing tricks can sell useless products, but those tricks only work for a short time. If you want to make sales continuously, you should sell products or services that actually do something good for consumers. People come back to your store because they see the value in your products, not because you make profits by selling cheap stuff. Double-check if your products are truly serving your customers.

© July, 2016