I’m a Melbourne mum of 2 cheeky teenage boys and 2 super-cute puppies. And I know what it means to juggle motherhood and this crazy thing called life with running a profitable business you love.
I’ve struggled with it at times. But I’ve also succeeded. In a BIG way.
Today, I’m going to share with you my favourite 10 fast-track ways to streamline and increase your business productivity in your product-based business.
I have got really handy tips and tools that I want to share with you. Some platforms that I love using and that my product clients use every day will help you to not just explode your sales, but also feel like you’ve got some white space as well and have some time with your family and catch up with friends, get a massage or take a yoga class. Getting the balance is equally as important as having success and profitability in your business.
I can’t tell you just how many times I’ve spoken with clients about margins and sometimes, unfortunately, a lot of them are really far off where they should be. Always do your numbers and work out your profits using a profitability calculator.
If you are really curious as to why you don’t feel like you’re making any profit, first look at your margins. Make sure you know your true costs and build up the margin enough so that you have enough room to sell B2B wholesale and to online customers at full retail price. Remember it’s much easier to offer a lower price to your customers than to raise it.
That is really important that you know what you are able to sell and that you are able to accommodate your inventory. Keep selling it, keep plugging it, keep pushing it and treat that product like it’s your golden goose that you are putting in the hours and the dollars behind it to turn it into a higher, more attractive draw card into your business. When you have that best seller, that product can really help lift your sales.
This is also really important. There are some great platforms around. The one that I personally use is called Trello wherein you can set up boards, you can collaborate with your key staff members, your team, and anything that’s going to help you to be more productive and not forget to follow up.
If you are pitching and you’ve sent out information or samples to a retail store, you need to be organised and have a system that you can use to track your inventory and make sure that you have got a great way to interact with your customers.
With Trello, you can also set up a task or project board and create reminders in your calendar so everything stays organized. In that system, you can also integrate key buying times and key campaigns. If you are releasing a new product or you have a limited edition range and want to start promoting, I would recommend setting up six weeks in that timeframe for a product launch.
Collaborate in order to be able to grow. I’m really a big advocate for connections with like-minded women that you are pitching and showcasing what it is that you do, how you help people and who your ideal client is. My niche is working with product-based business owners across Australia and in other countries. But they are all female creatives. They are all like-minded and they are all wanting help to scale to over a million dollars. Know your niche and then know who the best people are to collaborate with.
The best way to do that is to identify who your customers are and to align yourself with another business that could potentially work nicely for you so that you can cross-promote within the same network of followers that have the same interests.
Find someone that you can both support and lift each other up because business can be isolating and small businesses can be really tough so it is really important to have a tribe, a community, or a village around you that really helps to push and do cross-promotion, share the mailing list and share the followers.
My favourite app on Shopify is called SELLY, this is a fabulous app. If you are looking at adding an upsell app to your Shopify store, I highly recommend this one. It’s where you can upsell the cart if you have got collections. I had a past client who was very successful using it and that sold beautiful wellness tea for women’s health on subscription. She also sold upsells at the cart but since it was consumable and the customers would be using it over 30 days, the app suggests that if you add two more, you’ll get a 15% savings so people will do that in order to not run out and it’s saving on shipping as well.
Another great reason to bundle up is to increase your average customer spend especially if you are running paid ads like Facebook, Google, or Instagram. Your average order value should be around $80 to cover your costs of the ad so aim for creating fantastic bundles. You can either create them as a product, but I really love the upsells at the cart because a lot of the time people will have FOMO.
The important thing is to really set the dates and the timelines with your planning and do this every quarter so that you can gauge what it is that your targets are, what it is that you are forecasting for your sales or for your stockers so that you can recognize those milestones. When you recognize and hit the milestones, celebrate, recognize, and celebrate and do something that is rewarding that feels good to you. Like I said earlier, a small business can be a tough place. It can be isolating, it can be challenging, and it can really test your mental health.
It’s also imperative to surround yourself with other like-minded business operators that understand what it is you are going through and what they’re going through so that you can all support each other. It’s important to be able to thrive in business, find your community, find your peer group, and work with other business owners. Work with somebody who’s already been there and walked in your shoes so that you can get help immediately.
Set clear goals and break them down into projects and then tasks so that you are breaking things into bite-size pieces. It’s important to map out and make sure that you can set clear deadlines and look at how you can gauge your best return on investments so that you have a way to measure the results be it in sales, be it an outcome of a campaign, or a new product launch.
My all-time favourite e-commerce platform for all businesses.
Great for keeping up with team management, project management, and looking after your sales pipeline.
Quick messenger tool that I have on my phone and my laptop because day-to-day communication is important.
Voice messaging app like a walkie-talkie. You can leave voice-to-voice messages, and that’s how I communicate on a daily basis with my clients.
For a solid accounting package with regards to Shopify apps.
A portal that allows you to give access to potential stockers to access the backend and get their wholesale tools and pricing so they can place an order directly with you.
A lookbook is a blend of a product catalogue and an e-zine. It includes high-quality photos displaying a select grouping of your new items.
It is a tool for product marketing and wholesale pricing. It’s used to display basic, yet important information about the product.
It includes a wholesale to retail pricing spreadsheet, manufacturing offshore and corporate gift hampers pricing.
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