The Last Thing Many Companies Need is More Technology: Invest in your People and Processes
What Is The State of eCommerce In 2023?
It pains me to write this as a technologist. Some days I still wake up shocked I am in consulting. but here we are. Here's where I land on the state of eCommerce today:
There are hundreds of software applications, apps, plugins, modules, cartridges, integrations, connectors, app stacks, GPTs, some with and without heads, and even some disembodied zombie platforms. We have seen it all at this point.
But there is only one Profit & Loss statement, and there is only one primary customer segment for most businesses.
What are the key steps in developing a profitable eCommerce business?
The basics have never been simpler:
Job one is to develop a clear picture of how you make money over the long term, and grow the business profitably by serving your customers better than anyone else in the world.
Job two is to hire the people and develop the processes needed to serve those customers profitably. Every technology requires that you put a team on the field with clear ownership and direction, and appropriately staffed.
Job three is to put the right technology solution in place that will accelerate your ability to serve customers profitably.
What are the critical factors for success in retail and eCommerce businesses?
Most people spend 80% of their time on Job 3 and 20% of their time on Job 1. This means they spend almost no time caring about Job 2 -- who their team is, and how they are going about their day to day. It's the rare CEO that wants to hear about it.
So many people skip to job 3. Leave their existing team in place, tell them to find a new vendor to blame, and hope it helps.
Hope is not a strategy, and usually, the results do not match the hope. In retail and eCommerce businesses, it's the processes executed by people that care about continuous improvement that are paramount.
The technology? It needs to be good enough to achieve your customer's goals. Which often doesn't require every plugin or app-store app on the planet to do so.
Expert Consulting: How Will You Grow Your eCommerce Company?
When growth is elusive, I am an expert at asking incisive questions to surface the real issues and then present straightforward ideas that your team can actually implement.
Mistakes are expensive. They cost money, of course. What’s worse is the opportunity cost. I work with investors and management teams worldwide to help them get a handle on their digital business plans to execute a clear path forward.
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