“They were missing some of the tools to make themselves successful,” said J.M. Field Marketing’s New Business Development Manager, Michael Sandweiss about Ecommerce startup failures.
Fort Lauderdale, FL (PRWEB) April 25, 2014
Recent research conducted online by various Ecommerce trend reports has predicted an increase in Ecommerce sales across the board by 20%. This yearly increase will top Ecommerce sales a little over 1.5 trillion within the world market. With such figures and emerging B2C online purchasing trends, the time poses a large opportunity for many entrepreneurs with a startup Ecommerce company idea.
Though, alarming rates of startup failure in the first three years of business operation, a combined 95%, has turned away many with a new idea or innovation from the market. On a better note, the research findings allow for a positive impact on success within the Ecommerce industry, leveling off the competition. The prime reason for startup failure, with a staggering 46% from the startups polled in the year 2013, contributed their lack of success to incompetence. The most notable issues related to incompetence were the lack of knowledge on product pricing, financing and experience in record-keeping.
These startup failures, in examination, were made without the proper planning and tools. From the words of J.M. Field Marketing's New Business Development Manager, Michael Sandweiss, “They were missing some of the tools to make themselves successful.”
Many startup Ecommerce companies are new to the business world. They have the ideas but often do not possess the same business acumen. When starting up, it is important for entrepreneurs to keep in mind their skill sets and understand that they cannot do it all.
“There might be one great at sales, one great at math and the other is a programmer," Michael Sandweiss goes on to say. Each does not necessarily possess the same skill set as the other. There needs to be unity among the bunch and a standardized approach that would assist each member on the team with their best qualities to bring to the table in making the startup succeed. This allows for a balance of management and responsibility among the key business players.
J.M. Field Marketing’s location in the Southwest region within the United States has been an advantage to international and domestic startups. Ecommerce industries, first and foremost, need to have a location to store their main product inventory. For many international clients looking to expand into the Latin American markets, Miami and the South Florida region allows for Ecommerce shipping and fulfillment in the domestic, South American and Caribbean markets. After deciding a location, an Ecommerce startup’s most important priority is business operation.
An Ecommerce startup should consider the type of software platform they will utilize to implement and carry out a large portion of their online business operations. J.M. Field Marketing has experienced clients from all different types of industries set foot in their office. Client ideas have ranged from scrapbooking Ecommerce to composite hoses. “We have seen it all,” says Director of Fulfillment Services Ryan Schoeneck. In developing these types of startups and any company for that matter, J.M. Field Marketing utilizes their proprietary Ecommerce software platform. The varying of Ecommerce industry is few and far between. It is important that software is adaptable and can customize the reports and information given to what is most valuable to that company. The Ecommerce software platform should sync directly into the product inventory and be available across sources, whether clients want to access these reports and tools from a mobile device or a computer. Work can be done anywhere. This feature comes with the territory in the Ecommerce industry, since sales can occur anywhere at any time and may not be during normal business hours.
The Ecommerce startup should also consider and notice important reports essential to business that are provided by the Ecommerce software platforms. Decreasing hours of work, a simple report could be the make or break for that company. The Ecommerce software should do most of the analysis. It is left to the hands of the business partners to interpret and implement the data.
Planning a startup is risky business for anyone, but with proper planning, execution and an Ecommerce software platform that manages much of the company’s operations, there is a large opportunity for increased success. It is important to take careful consideration into all of these factors and track down what accommodates the specific startup and industry.
About J.M. Field Marketing
J.M. Field Marketing offers a seamless integration of marketing solutions, from design and printed collateral to marketing materials, product fulfillment, web-based inventory management, data collection, inventory systems, and call center services. The company’s mission is to work as a direct extension of its clients’ brand – providing the services every business needs to help increase revenue in today’s competitive market. With over 205,000 square feet in storage capacity, J.M. Field Marketing’s pick and pack services provide assistance and advantages to our clients in materials production, online order processing, and web-based inventory management.
J.M. Field Marketing’s clients include the banking industry, travel industry, entertainment industry, security industry, hair care products, and more.