Be an Entrepreneur without quitting your full-time Job !

“Chasing two rabbits and catching none” is a passe. For those who like to play it double, the market is up for the show .Part-time entrepreneurship opens the avenues for those who do not want to take the risk of losing full time salary but also have the fire to start something of their own.Be it to supplement the income ,to pursue the passion or simply out of economic necessity, this gamut comprise of 15-20% of American workforce.

Launching part-time entrepreneurship is the ultimate avant-garde for those who can handle the pressure of setting up a company while juggling well on the current one. However, the perks of being a part-time entrepreneur are sufficient to lure the vexed full-timers:

  • It opens the chambers to fulfil the skills that might not be tapped in the full-time job.
  • Limited risks as compared to full-time plunging.
  • Reduced pressure to generate revenue and roll cash flow because the income from full-time job will manage the income.
  • Luxury to revise business models and less cascading effect of errors.
  • Slow growth pace is allowed to understand the dynamics of the market.

For those who decide to keep their current job up and indulge in complementary kicks as well,here are some recommendations to make the part-time business worth a shot :

  1. Channelize your time.

Building a start-up is no child’s play, be it full or part time. Constant dedication, hard work and positivity are required to make both ends meet. Set a schedule to keep your current job and part-time venture separate. Frame your day in a way which caters to the current workload and contributes to your start-up as well.

 

  1. Find a trustworthy co-founder

Sharing workload with partner can be less strenuous and draining than handling the entire process single-handedly. A co-founder can help formulate ideas, debate towards better decisions and share workload so that a balance is maintained between both the worlds. Finding the one who also is a part-time entrepreneur will strike a fortune.

 

  1. Come clean with employer’s policies.

Many companies make their employees sign a non-compete agreement which states that the employee cannot utilise their job skills for anyone but the employer. Go through your company’s policies before jumping into the venture so that the legal eggs are in a row.

 

  1. Smart selection of business idea

Study the market well.Many part-time businesses invest in an emerging fad with cut-throat competition and end up being a drop in the ocean.Doing business part-time gives one the independence to play with risky yet hopeful options. Utilising your proclivity towards the choice of your idea is the apt goose to chase.

 

  1. Cast the future of the venture

It is easy for part-timers to pull the shutters and call it quits, but that does not mean one has too. Timely review the progress and future of your start-up and forecast the standing of your company in the coming years. There shall be a time when one can probably think of converting it to a full-time venture. Weigh your priorities and pursue smartly.

Part time entrepreneurship is a win-win situation.There is perpetual risks of family negligence, feeling of entrapment and limitation but the feeling of security triumphs all. It is a new kind of empowering experience which provides a direction to a self-sustaining business.

 

How to start selling Electronics Online ?

People splurge on Electronics these days. With fewer overheads than a physical store, E-commerce sites are able to sell online at good margins yet attractive prices. Listed are few things you need to take care of before you start selling online:

 

MAKE A PLAN:

The first step is, decide what type of electronics you want to sell as there are a lot of varieties. Differentiate your business by pursuing a niche market strategy, beginning with an honest assessment of your core competencies.

MAP YOUR GROWTH:

Try going with surveys to know what a customer needs and study your competitors, this helps in measuring your growth potential.

GET A DOMAIN NAME:

A web Domain is like your address. Choose your web address so your customers know where to find you. Once you get your domain registered you can start working on your brand creative’s and branding .

USER-FRIENDLY SITE:

A Customer may search for a particular product, use categories and subcategories to give them a hassle free shopping experience. A clean UI which concentrates more on your products is always a good option. Ensure you make your product the center of attention. Make sure your Add to Cart button is given at most importance because at the end  it will ensure conversions .

INFORMATION:
Before investing in electronics research is what every buyer does. Unlike clothes or accessories electronics are pricey and an investment. Ensure your website has necessary tables and neatly displayed bullet points giving information about the features of each product .

PAYMENTS GATEWAY:

Electronics are generally on the higher side  and most buyers would rather prefer to pay online, give them the option for the same.  Cash on Delivery for a laptop or mobile may not be as convenient so don’t forget to integrate a good and reliable payment gateway.

AFTER SALES SERVICES:

After sales services could be crucial to your business especially when you are selling electronics. More often than not clients may not know how to setup the product (Even when they have a manual to refer to). In such cases, you can have a live chat option on your website or have necessary FAQs below products to reach out to your clients thus giving them a sense of surety in your product and introducing a trust factor without them even realizing

ACCESSORIES:

Offer your customers with free accessories like free Oven Mittens on buying an Oven or free cookbooks on the purchase of kitchen appliances. Combo offers at lower rates could work well. Because who does not like a little extra every once in awhile?

SEASONAL OFFERS:

Take advantage of the present situation but plan in advance! People tend to buy products like Air Coolers in summers. Christmas may see a spike in OTG sales. Give your buyer’s an incentive to buy from you in the form of freebies or discounts.

STAY CONNECTED:

Use email marketing to stay connected with your customer’s. Send them emails asking for their feedback on the products. Send them a thank you note. Interact and stay connected!

STAY UPDATED:

Always ensure you keep your customers updated about new products and offers. Nurture your relationship with them and make sure to always keep building on the trust factor. Because once they believe your products are genuine they won’t bat an eye to buy from you the next time!

7 Ways to ensure you never lose a customer

Customer retention is a serious issue to be managed with due diligence. Here are some ways ,following which one can ensure not to lose a customer.

1.   Changing  Employees :  

It’s tempting to assume long-term customers love your brand. More often than not they love your employees.Customers don’t buy from companies. They buy from people,your people. Since relationships are the lifeblood of a small business, don’t rotate salespeople, customer service reps, or key contacts unless you have to. Do everything possible to protect and foster the relationships your employees forge.

2. Making problem resolution painful :

Policies and guidelines are great for ensuring that employees comply, but a customer with a problem doesn’t care about your policies. He/she just wants his/her problem fixed. Let employees use complaint-resolution policies as guidelines rather than rules. Give employees the freedom to make judgment calls. Resolving a customer problem or complaint can help your business establish an even stronger customer relationship when you give employees the freedom to make that happen.

3. Influence With Social Proof: 

How does social proof impact your client retention rates? It’s actually very simple. If your client gets the feeling that your other clients aren’t happy, they’re more likely to become dissatisfied themselves. This can happen even if they’ve received good service up until that point. For this reason it’s a good idea to promote all the positive feedback you receive on social media channels. You should also be vigilant for negative comments. If a client has complained about you, try to take the conversation offline as quickly as possible. Respond kindly (be understanding, but also try to make their experience sound like an anomaly). Then try to resolve the issue through private correspondence.

4. Establish a VIP Club Exclusivity: It is a powerful motivator: 

Psychologically we’re drawn to things that make us feel special, or part of an elite group. If clients feel they have achieved a certain ‘rank’ and reached an upper level of privilege, they’re more likely to stay with your company. While it does depend on your industry, it’s often possible to establish some kind of VIP Club to encourage returning customers. In eCommerce this is generally done by creating customer accounts and awarding loyalty points for each purchase, but there are plenty of ways for different businesses to replicate the exclusivity experience. For example, at a creative agency you might offer a discount to your recurring clients, and give them a prime spot in your marketing collateral. You could offer a ‘referral rewards’ club, and send them gift baskets or shout them to a restaurant when they introduce you to
clients.

5. H.E.A.R.D :

This wonderful strategy can be used by pretty much anyone who interacts with clients or customers on a professional basis.
Hear : And listen. Let the customer tell their full story, without interruption.
Empathise : Create an emotional connection. Use phrases so they customer knows that you understand their feelings, e.g. “I completely get it, I would feel the same way.”
Apologise : Sometimes a genuine apology is all that’s needed. Never underestimate the power of this. Be sincere and take ownership of your mistakes.
Resolve : It’s critical that you address problems quickly, and offer compensation if needed. Give your employees the authority to make corrective decisions.
Diagnose : Put blame or guilt aside, and get to the bottom of why the problem occurred. Do your best to fix the process so it doesn’t happen again. Use this approach to turn any negative client experiences into happy ones- an absolutely essential skill for improving retention.

6. Share Things of Interest:

You know your clients, you’ve built relationships with them. Hopefully you understand a little about their personal lives, including their interests and tastes. Now you can leverage this information to form a stronger relationship with them. Your client sells handcrafted soaps but she’s been struggling to build her social media audience. You see an awesome Marketo article with step-by-step suggestions. Why not add a link to that the next time you email her? Passing on pieces of information that aren’t directly related to your services is a nice ,simple way of strengthening your relationship with your client. It shows that you care about them as a person,not just a business number. It also demonstrated selflessness.

7.Know your customer:

Anxiously wondering if your clients are happy with your services? There’s a simple solution – just ask them. Real feedback from clients is one of the most valuable things you can attain. If you don’t have channels or tools for gauging their opinions it’s time to create some.

There are several ways to achieve this, without causing inconvenience to your client or resorting to cumbersome paper questionnaires. Instead, send out an anonymous email survey periodically, promote a feedback form on your website, or create a social media poll. Use the digital tools at your disposal to make the process as quick and effortless as possible.

How to Start Making and Selling Footwear Online

It’s now simple to wow online shoppers with your chic shoe collection online. Be it Sneakers or Summer sandals, they roadmap to starting a Shoe Business is now here.  Opening one requires planning and preparation but shoes are a great way to start a lucrative business.

Here’s how you can get started-

1.Target a niche: For instance, you can sell orthopedic shoes, designer women’s shoes, customized sneakers or even formal leather shoes. Understand what is it that you are passionate about selling and go for it.

2.Write a business plan: which should include the type of shoes you want to sell and draw up a retail business plan including margins and scope of growth.

3.Domain name and Hosting: Your domain name is the shop where customers are going to visit to shop for their shoe needs. So get that in place once your theme is decided.

4.Design your online store: Styledge.in offers a wide range of templates to create an online shoe store that’s fast, easy to use and highly marketable. What’s more is that it’s an end to end platform where you can set up your online shoe store and run it in the most convenient way.

5.Obtain your merchandise: Obtain your shoe store merchandise through wholesalers and distributors. Manufacturers often offer discounts and deals on bulk orders. Once you have the inventory sorted by shoe size, you’re ready to go. With Styledge store management you can keep tack of your entire catalog.

6.Keep Your Customers Happy: With doorstep delivery. With the fully automated and integrated logistics platform you can manage deliveries at cost effective and efficient ways.

Styledge offers your business an end to end E-commerce solution that handles website designing, inventory management and logistics management. Check our services out at www.styledge.in