Sunday, February 26, 2017

Can Your Small Business Ever Become Next Amazon?



It’s no big secret that Amazon is the world’s largest online retailer. The e-commerce giant started out life as a small website that just sold a few books. Today, you can go on the Amazon website and buy just about anything! Yes, they still sell books. But, you can also get electronics, homewares, even food!

Jeff Bezos, the guy behind Amazon, is worth around $66.9 billion. And all that from a small e-commerce website founded back in 1994. Now, I know what some of you are thinking. Amazon got established during the Web’s infancy. There’s no way anyone could start an e-commerce store and topple Amazon today! Or, is there?

Amazon does have some stiff competition from the likes of eBay and AliBaba.com. Plus, many promising new e-commerce sites look set to grow at a rapid pace! Are you thinking of setting up an online store? And have you ever wondered if you could be as big as Amazon?

In short, the answer to the latter question is yes. You just need to have a combination of excellent business skills and timing. Let me give you a few examples of what has made Amazon the success that it is today. I’ll also give you some pointers that can help you speed up growth for your e-commerce site:

Cheap prices

One of the many reasons for Amazon’s success in the e-commerce world is their prices. For the majority of products, Amazon is significantly cheaper than other online sellers. Part of their business model involves buying lots of stock at the lowest prices possible.

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