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10 great quotes that inspire me always as a small business entrepreneur

Category: Growth Hacks

10 great quotes that inspire me always as a small business entrepreneur

10 great quotes that inspire me always as a small business entrepreneurIt isn’t easy to be an entrepreneur. Those who’ve taken up this uphill journey will tell you that it is a life changing experience. It can take you to the heights of euphoria, pits of darkness, awaken a sense of passion and sometimes drive you insane. It can do all of this on the same day!

Often, when you start living the journey, you look at fellow entrepreneurs around you – those who’ve made it, those who didn’t make it and those who are struggling just like you every day. It is then that a sense of epiphany appears and their world – the collective world of entrepreneurs – begins to make sense. You look for inspiration and motivation and most of all a sense of belonging from this world. Here are 10 legendary quotes about entrepreneurship that will make you look at your own business in a new light.

  1. The richest people in the world look for and build networks. Everyone else looks for work – Robert Kiyosaki

On most days, you want to leave the free fall of entrepreneurship and take up a job that assures a salary at the end of the month. But there is a sense of adventure in that free fall that is a lure. Those who dare take the risk sometimes receive the best rewards. It isn’t easy to be among the elite club of entrepreneurs but it’s worth it.

  1. Karen Lamb: “A year from now you will wish you had started today.”

When the entrepreneurship bug bites it also injects a bit of fear in us. That fear makes us stall and push our entrepreneurship dreams to ‘a bit later’.  A bit later when you have time; when you have money; when you can afford it. A year later when you see another entrepreneur successfully executing your idea, all you’ll have is regrets. Time and tide favours the brave. Take the risk. Fail fast if you have to so that you can learn and move on

  1. Scott Belsky, Behance: “It’s not about ideas. It’s about making ideas happen.”

Many entrepreneurs think that they have landed a goldmine with their million-dollar idea. The key here is that it isn’t the idea that investors pay for. They invest into the entrepreneurs’ ability to make the idea work. They invest into your cumulative experience, you team and your leadership in executing the idea.

  1. Mark Twain: “Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great.”

As a small business entrepreneur, everyone thinks they have the right to judge you. Advice, often unsolicited, will become a part of your life. But not all of it is great and people can be harsh. It’s best to ignore people whose advice is counterproductive. Keep you spirits high by surrounding yourself with people who share constructive criticism.

  1. Bill Gates:“Your most unhappy customers are your greatest source of learning.”

Speaking of constructive criticism, you will get your fair share when you start. And it’ll come from the end user who uses his savings to buy and try your product – a product that hasn’t got the backing of a trusted brand name. It is their criticism that’ll help you evolve faster and learn from small mistakes now rather than big mistakes later.

  1. Warren Buffett: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”

If you are an entrepreneur today, you’ll be an entrepreneur for life. What you do today, how you do it and how you treat people on your way up will all be remembered at every critical juncture in life. Be good because Karma is watching!

  1. Rocky (movie): Nobody is going to hit as hard as life, but it ain’t how hard you can hit. It’s how hard you can get hit and keep moving forward. It’s how much you can take, and keep moving forward. That’s how winning is done.”

Failure is a part of entrepreneurship. If you don’t fail, you can’t learn. And if you don’t learn, you won’t grow. If you don’t grow, you won’t succeed.

  1. No matter how educated, talented, rich or cool you believe you are, how you treat people ultimately tells all. Integrity is everything

This quote is one that all entrepreneurs should remember. Those who you meet and employ today (and even the ones you don’t) will remember how you treated them when they were ‘nothing’.

  1. Vivienne Harr, Make A Stand: “Stick with it, even on the bad days.”

Entrepreneurship will have its days. Good ones when you get orders and things look bright. Bad ones when your biggest customer walks away. You can’t have the rainbow without the rain.

  1. Albert Schweitzer: “Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful.”

This one little word – happiness – is what entrepreneurs tend to forget in the rush. And it is all that matters in what you do. Be happy – everything else will fall in place.

5 biggest hurdles in eCommerce and their solutions

5 biggest hurdles in eCommerce and their solutionsAccording to eMarketer, global B2C eCommerce is set to hit 2.3 trillion by 2018. It has made it easier for sellers anywhere in the world to sell their wares and get a fair chance to compete with the biggies in the business. It is fairly easy to set up an eCommerce website with little or no coding knowledge. Some even set up their website before they procure products to sell.

While selling within the city, state or country is common for eCommerce platforms, the true game of harnessing its power lies in catering to an international audience. In reality, your website can be accessed by anyone anywhere around the world. Shouldn’t you be able to sell to them too? From language barriers to tech issues, to fulfillment, there are quite a few things that are acting as hindrances preventing businesses from going global.

Here is a look at the top 5 reasons plaguing the eCommerce industry and solutions you can use to overcome these for your own business.

1. Speaking your customer’s language

Did you know that 60% of global consumers spend time on sites of their own native language than they do on English sites? If the site isn’t available in the local version, they might just boycott the site altogether. Language has a big implication for eCommerce websites. Not only do you need to provide an option for customers to view your site in local language, you need to run a site wide check to see none of your products or services have an offensive meaning in the local language.

Solution: Translation softwares are easily available in the market. Get your developer to embed that into your website so that the content can get easily viewed in the preferred regional language. What’s more important is that you hire a local language expert to run a content audit on the website to ensure things mean what they should and there isn’t any important message lost in translation. Nothing, however, beats humans doing the translation.

2. Tech infrastructure:

Does going international mean that you’ll need local hosting to speed things up? Having local servers for load balancing can tip the costs quite high and isn’t sometimes possible due to infrastructure limitations. Some markets require that you use Content Delivery Networks (CDNs) and geo-based load balancing servers to improve domestic site speed and reliability. So what’s the right solution?

Solution: The best solution will come from hiring a reliable turn-key vendor who provides dedicated IT resources and geo-load balancing as per what the situation demands. A client request from a particular geography can be directed either to a service node that is geographically closest to the client or to a node that has the most capacity. This allows us to optimize performance proactively.

3. Logistics and Fulfillment:

You may be all ready to ship your order overseas and even have potential clients waiting on you. In fact, according to a provider of international dispatch services, companies that ship overseas can increase their revenue by an average of 17% Fulfillment agencies are available too, more easily than before. Then what’s stopping companies from shipping internationally? A lot of times local government regulations are a problem. While some items are prohibited others need to abide by local expert laws. It is difficult for a company to keep track of each item for each country.

Solution: First, you’ll have to do the difficult task of picking out risky items and keep them out of being available in all countries. Second, you’ll have to choose the right fulfillment partner who is aware of local regulations and can even guide you to ensure you don’t violate any terms.

4. Local customer support:

So you have built a website in the local language for more sales. But is that enough? What happens when your customer reaches out to you via email or the ‘Contact us’ form on your website with a query or concern or help? Most of the time, websites are not equipped to handle this even though they have taken the effort to translate the content of the website into the local language. Most of the times, customers get back an auto-generated response, which of course does not make them happy. The risk here: Lose a hot lead or a loyal customer.

Solution: Start by having a vetted FAQ page in local language which is as detailed as possible to handle customer questions. Next, you’ll need to provide a local phone number where customers can reach you with local voice support. You’ll also need a real person replying to emails in real time.  These are people who are paying you money. So it’s best you don’t lose out because you fail to understand them clearly.

5. Preferred payment methods:

When eCommerce first launched in India, many people were apprehensive about shopping online because they didn’t think of credit cards as a secure way to transact online. Besides, digital penetration was low and not everyone had a credit card.

Solution: Though Cash on Delivery option was present earlier, it was popularized by Flipkart and soon other major eCommerce players followed suit tipping the entire eCommerce game in India. Five years after Flipkart launched this payment option, it contributed to 80% of its sales. It is important for eCommerce companies to understand nuances of the local market and provide payment options preferable to locals.

 Take away

International expansion is bound to bring whole new opportunities to eCommerce players by tapping new grounds for their products. With the right local partners who have understanding of local culture, politics, and customer expectations, it’ll be a sure shot way to build a global brand.

7 Mistakes to Avoid When Starting an Online Business

7 Mistakes to Avoid When Starting an Online Business

Starting an online business can be an exciting venture for any newcomer to the e-commerce industry. So while the thrill of setting an online shop and managing your online business with ease can make it seem like a walk in the park, it is important to refrain from committing the following mistakes that could set you back or ruin the chances of growing your business:

  1. Lack of planning:

The number one most important thing when starting an online business is having a business plan. Walking into a business venture without any action plan is risky and reckless.

  1. Paying attention to tiny details:

Little details can be very distracting from what’s important and can sidetrack your focus, this can lead to wasting valuable time.

  1. Not making money a concern:

You should always be wary and know where funding will be coming from, startups don’t profit from the beginning but experience a lot of losses. Financial plans are important.

  1. Not valuing your product or service:

If you are selling a product or a service, it is imperative to set a price that can end up gaining a good profit.

  1. Not prioritizing customer service:

Your customers are what will give you the profits you seek, ensure they have a good experience. Nobody wants to buy from the business with unimpressible customer service.

  1. Not hiring early:

Hiring early is a positive factor because it will allow you to match the skillsets and personalities and ensuring you have a solid team and company culture when the business picks up.

  1. Underestimating the focus and commitment needed:

It will take a lot of effort and focus to start your business, so you can only imagine the effort needed when running the business. Make sure your focused enough the achieve your goals, multi-tasking might not work for everyone. So dedicating the time for this is highly important for proper management.

All online businesses have the potential to succeed through hard work, dedication, smart planning and of course, the right online payment facilitator for their business. With PayTabs, we are dedicated to empowering and enabling our merchants with all the payment platforms required to accept payments and grow their business. To test the power of PayTabs’ platform, you can sign up for a free demo merchant account. For more useful tips and tricks, you can stay up to date with our posts by signing up for our blog alerts as well.

Your Revolutionary Payments Solution is now in Kuwait!

Your Revolutionary Payments Solution is now in Kuwait!

Kuwaiti merchant looking for a local and global payment solution for your online business? Look no further!

PayTabs has now launched its services in Kuwait following its efforts to expand its GCC reach. Kuwaiti merchants will now be able to enjoy a premium online payment experience using the latest technology that PayTabs offers.

Get your payments completed using local and international cards, and payment alternatives. Merchants will also be able to test out our free demo account to experience the simplicity and innovative approach PayTabs is best known for. With the support of multiple currencies, payments from anywhere in the world can be reached to your business at anytime. You can also settle all your payments in your local currency or in any currency you choose!

Furthermore, Kuwaiti merchants can enjoy our checkout services such as Express Checkout, PayPage and Recurring Payments to guarantee a truly seamless online shopping experience for your customers.

The starting process has never been simpler. All you have to do is to sign up for a free demo account, test how each function supports your business and payments, once you have been familiarized with the tools and functions, you may request to activate your account to “Go-Live” and  fully power your online business with PayTabs to start accepting payments.

Sign up today for FREE to explore the world of payments and offer your customers the best checkout experience using PayTabs. In the meantime, to keep up with the latest news and trends, you can sign up for our blog alerts here.

Your brand’s online reputation is at jeopardy! Here are 5 tips on how to safeguard it

Your brand’s online reputation is at jeopardy! Here are 5 tips on how to safeguard it

Reputation is a major component that can drive companies into major profitability or irrecoverable loss. It is highly important your company’s image meets the ideal expectations of the public and the consumers to avoid putting the brand in a vulnerable and controversial position that can put all of your hard work to waste. Not to also mention, retrieving information or opinions about any company is very simple since all it requires is a quick search on Google. Therefore, maintaining a powerful online presence for the brand is essential. Negative reviews or comments can be easily tackled by including content that is easy to share, search and is highly reliable, and that content will have a higher chance of appearing in the first page of the results. Here are 5 essential tips to keep your brand’s online reputation in-check:

  1. Create a company blog

Blogs are good with building relationships with customers instead of just increasing visibility via search engines and driving traffic to the website. It can also give you the opportunity to be placed as an industry leader with quality content.

  1. Keep your company’s website up to date

Having an up-to-date website, and a professionally written bio page not only helps legitimacy and credibility. It creates a strong impression because the company website is the first place people will visit when they research about your business.

  1. Take advantage of online reviews

Consumers find reviews highly reliable, therefore displaying recommendations and opinions on your website is a good method to create a positive expectation for the consumer. It’s important to also make sure you treat customers well online and offline. It will be reflected in the reviews.

  1. Never forget your personal brand:

Personal brand is important to in line with the company brand. This brings more influence and visibility over the search results of the business. There might be cases where your name might be more Googled than your company if it just started. So it’s important to keep in mind you have a positive image and reputation online.

  1. Utilize social media

Social media platforms rank highly in search results, and make great places to push out latest news and content. If your company is doing something interesting, use social media to let customers know about it by sharing recent press releases, or upcoming events and important announcements. It shows that your company is active and relevant.

As important as it is to focus on maintaining a reputable brand reputation online, it is also recommended to maintain certain mannerisms away from the internet such as premium customer treatment, maintaining high-quality standards with merchandise, staff behavior, and contributions to society can help boost your brand’s reputation as a whole. Companies allocate high budgets just for brand reputation and representation, and you can maintain yours without breaking the bank by following these tips! Do you think there are more ideas on how to maintain a positive brand image online? Let us know in the comments below!