Post by account_disabled on Feb 20, 2024 4:29:22 GMT
The majority of the heavy lifting for you. While these add costs that drive down the average net profit they also make your business far more attractive. Creating standard operating procedures SOPs SOPs should outline the entire process of a specific function of the business and should be good enough that if you handed them off to someone they could do the job percent as well as you. You should always be in a position where youre working ON your business and not IN. . Dig a deeper moat At Empire Flippers were always asking people if they built a deep enough moat around their business.
A deep moat means your business is harder to copy. A Greece Mobile Number List copycat cant just go buy a domain and some hosting and copy your business in an afternoon. A dropshipping store that can be copied in a single day is not going to be nearly as attractive as one that has built up a real following and a community around their brand even if they sell the same products. This fact becomes more and more important as your business valuation goes into the multiple sixfigure and sevenfigure valuation ranges because buyers are looking to buy a real brand at this point not just a niche site.
Here are a few actions you can take to deepen this moat Niche down and own the market with your brand a woodworking website might focus specifically on benches for example where youre hiring expert artisans to write content on the subject. Source your products and make them unique rather than another me too product. Negotiate special terms with your affiliate managers or suppliers. If youve been sending profitable traffic to an affiliate offer often you can just email the affiliate manager asking for a pay bump and theyll gladly give it. Likewise if youre doing good business for a dropshipping supplier they might be open to doing an exclusivity agreement with you. Make sure all of these.
A deep moat means your business is harder to copy. A Greece Mobile Number List copycat cant just go buy a domain and some hosting and copy your business in an afternoon. A dropshipping store that can be copied in a single day is not going to be nearly as attractive as one that has built up a real following and a community around their brand even if they sell the same products. This fact becomes more and more important as your business valuation goes into the multiple sixfigure and sevenfigure valuation ranges because buyers are looking to buy a real brand at this point not just a niche site.
Here are a few actions you can take to deepen this moat Niche down and own the market with your brand a woodworking website might focus specifically on benches for example where youre hiring expert artisans to write content on the subject. Source your products and make them unique rather than another me too product. Negotiate special terms with your affiliate managers or suppliers. If youve been sending profitable traffic to an affiliate offer often you can just email the affiliate manager asking for a pay bump and theyll gladly give it. Likewise if youre doing good business for a dropshipping supplier they might be open to doing an exclusivity agreement with you. Make sure all of these.