Ecommerce merchants choose their industry sectors for many reasons. That’s half the fun of coming up with, and executing on, a business idea.
Sometimes your choice furthers a life-long passion, while other times it’s as simple as recognizing and filling a market need. Being first off-the-block is often a winning strategy for a sprint, but not so much in a marathon.
Of course, meeting market needs in the long-term isn’t really a simple affair. Long-term business viability falls more into the marathon category. What’s required are several layers of expertise — Some related to the chosen product or service, along with know-how in managing your business.
For example, a passion for healthy eating and good cooking may lead you to open a meal prep business. You’ll love the first stage, when serving delicious and nutritious food made with your own hands proves super-rewarding.
But for how long will that “hands-on” approach serve the business well, given your ambitions and the blossoming market in your chosen niche?
As your business grows, reaching out to others who possess the knowledge and skills — the expertise — you need isn’t always easy. But it might be the best option to support the growth ambitions you harbor.
Using the meal prep sector as a proxy for all ecommerce shops, let’s take a look at an example of tough decisions one merchant made while managing business growth. The business lessons demonstrated in the story remain universal, proving useful to all ambitious ecommerce merchants.
Another lesson to consider while in the growth phase of your business: Leveraging expert payment solutions helps online shops grow.
True Rapid Growth Story Shares Lessons for All
Business principles remain true for all merchants, regardless of the chosen sector. eCommerce may be relatively new, but the quest to launch and grow a business persists in all industries. Like the story of a couple whose meal prep business growth lessons will resonate with all small business owners.
Danielle Hrzic told the story to HuffPost. The Hrzics built a meal prep business to improve the quality of school lunches available in Chicago. Gourmet Gorilla began by producing meals and snacks for three area schools. Now they serve schools throughout Northern Illinois and Wisconsin.
As more schools and parents joined the service, the business outgrew their initial kitchen space, and also the ability for the Hrzics to remain “hands-on” with meal production. As Hrzic says, “Small business owners often feel the need to be a part of every aspect of the business.” Letting go can be hard.
But Danielle learned that she had to pull herself away from the business, “…to work on it instead of in it” — and the business expanded rapidly.
Merchants keen to launch their own payment prep businesses will find useful information on the sector here, including info on the types of expert payment solutions needed in the sector.
Become Expert on Business Growth
It’s one thing to work in a business, and quite another to own and manage one. Launching and running an ecommerce business, regardless of sector, takes a lot of energy and passion for what you do.
Some online merchants open up shop following business careers, but many don’t have the first clue about doing the books, ordering and managing inventory, or supervising employees. And without stellar funding and steady cash flow, hiring the expertise just isn’t possible.
Do you know about the standard business growth curve? From start-up to survival to success at various levels, and all the way up to mega-successful large corporations — five growth stages get you there.
Start-ups challenge even the best and brightest new merchants. Passion for your business only takes you so far, when cash flow makes or breaks the business. It’s financial survival that moves the company up the curve. And expert payment solutions help ensure financial success.
Reaching out to experts to help your company grow — and letting go when necessary — reflect mature resolve as an owner. Our featured story didn’t highlight payments, but it’s clear that selling to schools requires B2B payments expertise, and directly to parents means B2C payments.
Do other eCommerce merchants know enough about payments, to get past start-up and survival, then on to success? Like why a landing a merchant account reflects your best interests, and how to protect your payments from fraud? If not, payments may be an area in need of expert assistance.
Expert Payment Solutions Help eCommerce Shops Grow
No matter where your business falls on the growth curve, you need expert payment solutions to help you grow. To find payment solutions that will both save your money and give you peace of mind, look no further than PayArc.
Our mission is to bridge the gap between online merchants and payment solutions — for all types and sizes of merchants.
PayArc’s industry leading payment processing solution gives you all the tools you need to start accepting payments online, while lowering your risk to fraud and giving you some of the lowest rates in the industry.
We leverage strong industry relationships — developed over decades in the payments industry — to help you land an individual merchant account so you can start processing payments quickly and securely.
Take the headache out of credit card processing, so you can process with confidence. PayArc wants to act as your payments advisor and consultant, not only your processor.
You have a business to run. Our business is to help you run it better.
Give us a shout today.