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Your Online Business? Explore Here To Get Answers
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Wholesale Drop-ship Supplier

14 Key Questions to Ask Before Using a Drop-Ship Supplier

May 27, 2015 3 Comments

One of the most common ways to ramp up your online business is to incorporate drop-shipping. This is when you list a supplier’s products on your website but you don’t physically carry their merchandise yourself. When you get an order for one of those products you send the order details to your supplier and they ship it to your customer as if you had shipped the item yourself. This allows you to offer a large variety of products without having to take the risk of investing money in purchasing those products. I’m not saying that this is a good or bad strategy for your business but if you are going to go this route then you should review the important factors I outline in this post in order to make sure that your drop-ship supplier is right for you. (more…)

Best-Selling Products to Grow Your eCommerce Business

Always Know Your Best-Selling Items in Each Channel

April 5, 2015 2 Comments

It is a good idea to always know your best selling items in each channel. A channel is defined as a specific marketplace or site in which you sell your items. These can include eBay, Amazon, your own website or anywhere else your products are listed for sale. While it is important to periodically run reports to determine your best-selling products across your entire business, it is also a good idea to do the same analysis for each channel. (more…)

Evaluate Each Supplier Regularly To See If Their Products Still Make Sense

March 2, 2015 No Comments

How many suppliers do you have? This is one of the most obvious but overlooked questions small business owners never ask themselves. It’s important to know because it tells you how many companies you need to manage.

Evaluate each supplier regularly to see if their products still make sense for your company. We recently cut some suppliers because their products (and their terms) were simply not favorable anymore. It’s better to focus your CAPITAL and your TIME on better products. (more…)

When it Comes to Inventory Management, Cash Flow is King

February 25, 2015 No Comments

When it comes to inventory management, cash flow is king. If in doubt, liquidate stale inventory and invest that money into expanding product opportunities that are working for you. It may be a hard thing to do but sometimes you have to cut your losses to get ahead.

We have focused on this approach lately and it is really working for us. Unfortunately we learned this the hard way by trying to stick to stale inventory in the hopes of one day making a profit. What ends up happening is that inventory gets more stale and loses even more value. Don’t let this happen.

The Importance of Analyzing Your Business

December 11, 2011 No Comments

The Importance of Analyzing Your Business on a Continual Basis

The frequent and continual analysis of business performance is one of the most important duties in business. Business review helps one uncover an incredible amount of intelligence about what is working and what is not working. Without this type of review, it is difficult to asses a business’ true health. This is because without business reports, the best thing you’ll have to rely on is your best guess. Making business decisions by guessing can lead to lost opportunities as well as a lot of stress. Making informed decisions leads to profits and happiness.

There are many types of reports you can look at. I list just a few examples in this post to give the reader an idea of where to start. I’m sure in your own business you can come up with many creative types of reports to generate and review. (more…)

A College Education: Is It Worth It In Business?

October 24, 2011 No Comments

If you want to be an entrepreneur, is a college education worth it these days? A lot of people argue that a college education is no longer necessary. They argue that it is too expensive and doesn’t really teach you anything useful. Anything you want to learn you can learn in the “real world.” I tend to disagree mostly with this argument but there is some truth to it. A college education is very valuable because it teaches you how to think and to solve problems. Moreover, because today’s world is so much more information-centric, you’re better off learning useful things such as computer science or engineering or some other discipline that can give you more relevant skills in the work force. (more…)

The 3 Cs and 4 Ps – A Critical First Step in Business Planning

October 20, 2011 2 Comments

Proper Business Planning: The 3 Cs and 4 Ps – A Critical First Step in Business Planning

Any business venture that you plan to embark upon should go through the “3Cs and 4Ps” exercise. While at first you may think that you’re wasting your time, you’ll soon realize how incredibly valuable and insightful this exercise is. It may seem simple, but the “3Cs and 4Ps” exercise really allows you to think about a business venture in a structured way. Once you force yourself to really go through this exercise, you’ll realize how much you didn’t know about the business idea you had in mind.

Let’s review what the 3 Cs and the 4 Ps are. The 3 Cs are: Company, Customer and Competition. The 4 Ps are Product, Price, Promotion and Place (distribution). Here is a little more detail about each part of this exercise. (more…)

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Pezlogic.com was created to give my readers an inside scoop on ecommerce and technology. I wanted to have a place to share my thoughts about new technologies as well as to give my readers some insights on how we run our online business. Friends and colleagues frequently ask me technology-related …

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