Purchasing and Sourcing

Both activities get products into your store. One should be automated, the other one needs a bit more intervention from you. Purchasing is a formula built using a few variables- stock status, historical purchase, sale’s growth (or decline) etc. You should have a system that tells you this automatically. Your time is better spent elsewhere. … Read more

Go with the Flow

When confronted with the myriad of choices and challenges, we tend to slow down the pace and tell ourselves just to go with the flow. In fact, it’s sometimes the best solution given the situation. However, it’s also important to take note of where you are flowing. Like Bruce Lee’s famous quote, “Be water, my … Read more

Platforms

They are generally 2 types of online selling platforms. Type A: One that allow others to sell on it (eBay, Lelong, Rakuten, Mudah.my, Taobao) and , Type B: One that sells directly to customers (Amazon, Home Depot). Note to merchants (sellers) who are offered both platforms from the same company. If you don’t manufacture your … Read more

Success is Overrated, Endorse Failure Instead

We always like to hear about the success stories of a business, or an entrepreneur who struck jackpot on his first start up. Or a killer product that spread like wildfire on Facebook. But be careful with all these sweet glossy stories of ‘success’, because if you really notice, most of these success stories don’t … Read more

Stock What You Sell

Selling your products online may sound easy, but if you are going to make it a full time job, then be prepared to go through the same survival-of-the-fittest challenges that will be thrown upon you. The reality is much tougher than it looks. You may have heard of the term ‘drop-ship’, where you actually sell … Read more