Why Experience is the Best Teacher When Building an e-Commerce Brand
In this episode…
How long have you been running your e-commerce brand? What have you learned along the way? What obstacles have you been dealing with—and how have you applied those lessons moving forward?
In this episode of the Relationship Commerce Podcast, Franklin Fala, the Co-founder and CEO of Swiftronics, talks all about the power of resilience and past experience to successfully grow an e-commerce brand. Franklin also shares the lessons he’s learned over the years since starting his first business as a kid and explains how e-commerce sellers can build relationships with their customers.
Franklin Fala is the Co-founder and CEO of Swiftronics, a leader in the private reseller market of consumer electronics that aren't readily available to the domestic market. Franklin got his start as a merchant on eBay and went on to open three brick-and-mortar stores that later led to his current website. In addition to electronics, Swiftronics now offers repairs and accessories.
Why Experience is Invaluable in e-Commerce
When going into entrepreneurship, most new business people choose to go for a niche that they are already familiar with. It could be that they start a business based on the work they did while working for a certain company or a past interest.
When Franklin Fala decided to become an entrepreneur, he didn’t know what direction to choose. He didn't know how to form or run a business, how to delegate work, or what to expect. He however overcame all these challenges and learned what was necessary as he went along.
So, Franklin's advice to new entrepreneurs is simple: get out of your comfort zone and start the business you want. Don’t be afraid of making mistakes; instead, treat these challenges as learning tools. Experience is the best teacher. You don't need to have the perfect plan before starting a business, even if you are entering a market you don't know much about.
How to Build Relationships in e-Commerce
Being an e-commerce seller is very challenging when you want to develop connections and build relationships with your customers. Many of the e-commerce platforms out there, like Amazon and eBay, don't allow sellers to have direct relationships with their customers because they’d rather you keep all of your efforts on their platform. It is very difficult to reach out to your customers after a sale and pitch them to buy again.
Some of these sites may also suspend or shut down your seller account without notice, which will negatively affect your sales.
So, what is your best move? According to Franklin, you should approach these e-commerce sites as a tool that builds up to where you want to be. Avoid building your e-business solely on e-commerce sites. Instead, you should sell your e-commerce products in multiple places to avoid putting all of your eggs in one basket.
Not only that, but you’ll also face a lot of competition selling through e-commerce sites. To set yourself apart, you should come up with good marketing strategies that will help you stand out in your niche.
The Power of Resilience in Building Your e-Commerce Business
Every business faces growing pains, no matter what industry you’re in. According to Franklin, what separates the successful from the unsuccessful is resilience. As an entrepreneur, you should not only focus on building your business, but also take the time to invest in yourself. Be resilient, stay determined, and persevere in the challenges you face.
When Franklin started his business, he didn't know much about the business world. But, he was determined to make it work and succeed. He made mistakes—but because of his resiliency, he was able to rise up again and keep going. He now tells people to do the same: keep going and never give up. Obstacles will always be there in business.
Besides ambition, you also need to have the right people around you. Hire resilient people who will help push you forward and innovate to grow the business. His last piece of advice? Hire people who are smarter than you. Trust him.
Resources Mentioned in this episode
- Worth eCommerce
- Swiftronics on Facebook
- Swiftronics on Instagram
- Franklin Fala on LinkedIn
- "Should You Avoid Outsourcing When You First Start Your Business?" with Braxton Manley
- "How to Hit the ‘Wow Factor’ with Your e-Commerce Products" with Deborah Brenner
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 http://worthecommerce.com/.
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