Business Strategies for a Recession or Slow Season
Even with the impending recession or slow season, your e-commerce business could still continue to grow as long as it’s relevant and is using the right strategies.In this episode, we talk about the different strategies that you could implement in your business to help keep it afloat. It could be cutting costs, proper inventory management, finding the right supplier and partnering with suitable lenders. We’ll also talk about the market outlook so if you’d like to prepare for what’s coming, make sure you tune in till the end. Let’s get started![00:01 - 03:27] Opening SegmentDavid’s forecast on the economic dipIncorporate these tips into your processes and do it on a regular basis[03:28 - 26:16] Let’s Talk About Strategies That Work Be profit margin focusedFocus on high profit-high velocity productsRemove products that do not sellCreate a product timelineDo not be led by your emotionsIncrease your profit by taking advantage of split testingAssess your marketClassify needs versus wantsLook for wasted PPC ads spentRun an entire auditRevisit old campaignsMonthly reports and analyticsWant some Amazon refunds? Check out GETIDAPromo code: FTM400Refinance debt by utilizing different lending options to get the best rateCancel services and subscriptions that are not necessary to run the businessLiquidate slow-moving inventoryCollaboration of the marketing and inventory team is the keyBreak-even analysis[26:17 - 30:39] Closing SegmentWhat is GETIDA and why it’s the duo’s favorite softwareConnect with us!Final wordsQuotes “I think to add products into your portfolio that level it out and minimize your risk, it’ll increase the value of your business, for sure.” “At the end of the day, profit is the name of the game.” Send us a voice message and let us know how we can help you fire the man! FacebookYouTubeInstagramGETIDAEmail us --> [email protected] Leave us a review as it really helps the show! Support the show