Finding the Right Team for Your e-Commerce Success
In this episode…
Are you ready to hire your first employee for your e-commerce startup? Do you know what to look for in the right hire? Not only that, but are you on top of your finances?
In this episode of the Relationship Commerce Podcast, host Dean Dutro is joined by Colleen Wagner, the Founder and Chief Adventure Officer of McGovern & Company. They discuss how to know when you’re ready to hire your first employee, what to look out for during recruitment, and the importance of effectively managing your finances. Colleen also shares the SEO strategies she uses to grow her business. Stay tuned.
Colleen Wagner is the Founder and Chief Adventure Officer of McGovern & Company, a heritage brand born out of love for American National Parks. The company creates products using unique decorative vintage maps for the travel, adventure, and outdoor markets. Its product line includes scarves, bandanas, mugs, blankets, buffs, socks, bags, and more.
For the last several years, Colleen has built a 100% female-owned, remote, flexible, and family-friendly company that helps working moms and donates to the planet. McGovern & Company was a finalist of the 2020 Title Nine Pitchfest, and all of its designs and products are inspired by Colleen's travels to National Parks.
How to Know When to Hire the First Employee for Your e-Commerce Business
One of the key milestones for your e-commerce business is hiring your first employee. You may have started by bootstrapping and running the business alone, but as your products start to gain market recognition and your sales volume increases, it may be time for you to make your first hire.
However, finding and hiring the first employee can be daunting for most entrepreneurs. So, how do you know when the time is right? The first step is to evaluate your business' performance to ensure that employing someone is justified. You should see an increase in the number of orders received every day, and your total sales volume and profits should be on an upward trend. If you are having difficulty fulfilling the high number of orders coming in alone, then it is probably time for help.
Similarly, if you started your e-commerce business out of your home or another small space, then you may be faced with the challenge of finding a bigger space to carry out your business operations. You may also be struggling with limited space in your day. In this case, it is probably time to find someone to share your thoughts, ideas, and plans with.
All these are signs that you need help with your e-commerce business—and that it is the right time to hire your first employee.
How to Find the Right Employees for Your e-Commerce Business
When you decide to start hiring employees for your growing e-commerce brand, it is critical that you find the right team. Ask yourself: does this person have the right skills and expertise to help me grow my brand and take the load off my shoulders? You should be confident when delegating work to new hires, so you can concentrate on the strategic aspects of your business.
The best employees also have initiative and strong problem-solving skills. They should be aligned with the core mission and goals of your company and have the passion and work ethic to help your business grow.
To prepare a job description for your first hire, one simple yet very effective strategy is to write down all your daily tasks, then decide what you want to stay in control of. The tasks that you are ready to delegate can be used to create a job description. If you are running a small business, you may need to find someone who can handle multiple tasks in one role, as opposed to hiring a specialist.
How to Stay on Top of Your e-Commerce Business' Finances
As your e-commerce business grows, it is crucial that you stay top of its finances. Bad accounting practices can ruin your business, leading to financial losses and worse. In order to maintain the financial health of your business, it may be wise to hire an accountant, bookkeeper, or CPA firm to manage your accounting records.
However, an outsourced accounting firm cannot know your business as well as you do. Because of this, you may want to hire an in-house accountant or bookkeeper, then use an agency or consultant to audit your accounting records when necessary. Having an outside party go through your financials can help you avoid any occurrences of money laundering or theft, which could negatively affect your business.
When it comes to tax season, you should also hire a tax expert or agency to do your taxes and review your records. This expert will help with double-checking your books to make sure that everything is accounted for as it should be.
Resources Mentioned in this episode
- McGovern & Company
- Colleen Wagner on LinkedIn
- Worth eCommerce
- Dean Dutro on LinkedIn
- "Practicing Sustainability with Your e-Commerce Products" with Shane Boudreau
- "How to Grow an e-Commerce Brand Through Dropshipping" with Sean Reyes
- "Helping Entrepreneurs and Business Leaders Fix Their Business Problems" with Mike Michalowicz
- The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich by Tim Ferriss
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
- Fix This Next: Make the Vital Change That Will Level Up Your Business by Mike Michalowicz
- Mike Michalowicz on LinkedIn
- Big City Mountaineers
- Summit for Someone by Big City Mountaineers
- Brightpearl 3PL Integration
- TOMS Shoes
Sponsor for this episode...
This episode is sponsored by Worth eCommerce.
Worth eCommerce is a small mighty team of eCommerce email marketers who help businesses of all sizes dramatically grow revenue with lifecycle email marketing. It is made up of copywriters, designers, strategizers, and marketing extraordinaires who specialize in nurturing relationships and guiding sales through the sheer power of email.
Worth eCommerce's sole focus is creating a lasting relationship between eCommerce sellers and their customers through the most personable form of digital connection: email. Businesses that send personable, interesting, and helpful emails earn the trust and continued business from that same customer.
Worth eCommerce’s mission is to help small medium sized e-commerce businesses generate more than a million dollars a year each in revenue using their own marketing channels.
To learn more about Worth eCommerce, visit https://worthecommerce.com/pages/home.
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