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Sometimes it’s important for us to get back to basics. No matter how much we talk about marketing, web design and other elements of owning an online business, without certain fundamentals, nothing else really matters. So in the spirit of keeping it simple and getting it done, check out these five business tips that everyone (including you) should know.

Happy selling!
-Matt Winn, Social Media Manager, Volusion

Here’s the transcript if you’d like to read along:

Hi everybody! My name is Matt and I’m the Social Media Manager here at Volusion. Welcome to Two Minute Tuesdays, where we give you two minutes of ecommerce advice to bolster your online success.

Whether you’ve been in business for one day or one hundred years, it’s really important that you know basic business fundamentals. That’s why I’ve put together five of my best tips that every business owner should know, so let’s dive in!

First, you have to know your point of difference. It doesn’t matter if you’re selling apparel or zucchinis; you need to know what sets you apart from the thousands of other merchants that sell the same product as you. For example: do you have a lower price point, better customer service or a better product selection than the competition? Knowing what sets you apart is a great way to start your marketing efforts.

To help figure out what your point of difference is, it’s also important to keep tabs on your industry. You need to know what your competitors are doing and you need to know what’s going on with developing technologies, that way you can always be aware of what’s changing in your industry so you can react a lot faster.

Third, this is really simple, but important; work hard and be nice. Whether it’s the people that supply your products or who actually buy your products, it’s always important that you be nice. Remember, your reputation matters and it follows you everywhere you go.

Next, marketing is really important, so whether you have the best product or service in the world, no one will come to your business unless they know you exist. How do people know this? It’s all about marketing. Thus, you have to get your name out there, whether it’s through email, local outreach or social media.

To round things out, money is more important than everything. Unless you’re a non-profit, you’re probably in business to make money, so you need to keep tabs on your finances at all times, whether it’s basic accounting, forecasting for future investments, etc. In other words, you need to know if you can pay your expenses and if you can make a profit.

Hopefully these business fundamentals are helpful in bringing things back to basics and will set you on the track for success. If you have any questions, we’re always happy to help.

From me to you, happy selling!