When it comes to growing your dropshipping business, there are about a million different things that you could do.
But let's break it down to 5 simple tips that you can follow to grow your business from the ground up.
It's important to have this as part of your company's DNA or your brand's DNA that you can build on. It's really foundational to your company to have a mission that you can stand behind. At SaleSource, the leading e-commerce dropship spy tool, we have a mission of helping small businesses grow. Very simple, but that's our mission and we know that by doing that, we feel like we make the world a better place because businesses can hire people, they can help improve their communities, they can donate to local charities and all these things because they're doing well as a business and they're growing so that's our core mission, what's yours?
This is crucial. Bill Gates once said that if you had $10,000 to start a business, you should invest $9,000 in marketing and that's so true because you could have the greatest product to service the whole world, but if nobody hears about it, then you're not going to do very well, you're not going to grow your business. So it's important to invest in marketing, to develop a marketing budget that you can start with and then plan on growing that budget as you grow the revenue of your company. The Harvard Business School says you should invest anywhere from 7% and 15% of your revenue back into marketing to propel future growth. That tip has been very successful throughout the years. We've seen that be successful with countless small businesses, so make sure that you're investing in marketing and then when you're marketing, make sure that you cover all areas. Make sure you're multi-channel, which would be to dominate search for your best keywords, social for your best demographics, local for the maps and local listings and reputation. If you do well in those areas, you're going to grow your brand from a marketing perspective.
There's a saying in sport that winning is the best deodorant because it covers up the stinky spots. Well, that's sales for a business. If you're doing well with sales, it really covers up a lot of weak patches for you. It pushes you through and helps you continually grow. But if your sales aren't doing well, even if you have everything locked and solid on the back end, you're not going to see that growth. So make sure that you're working on sales. Focus on sales, have people that are passionate about sales leading your sales team. Measure things like opening ratio. What percentage of the leads are you opening and turning into sales? And always work to optimize and improve upon that. If you have a culture that's passionate about sales, you have a culture that's passionate about growth. And really taking advantage of your marketing most effectively to have the highest return on investment and making sure that you as a brand can achieve your mission.
growing your business is to have scalable and repeatable processes. Processes are so crucial. That's one thing we've known throughout the years is that we have to have processes, and those processes have to be constantly be optimized as you grow. What works with 10 people, won't necessarily work with 20. What works with 20 won't work with 100. So as you grow your brand, grow your company, make sure that you're constantly fine-tuning and optimizing your processes. Make sure that you have processes, they're documented processes, and you can measure to those processes. If you don't have a standardized process you don't have a process at all, which means you're free for all. So to have a scalable company that's just as efficient when you have 100 people as when you had 10, you have to really focus on repeatable and scalable processes.
Hire people that have the culture fit that you're looking for, not the experience fit that you're looking for. Culture alignment is so much more powerful than experience because if you have standardized processes, you can train people on those processes. They don't necessarily have to have previous experience. It might take them a little bit longer to ramp up, but ultimately you'll end up with the better person if they fit your culture and they align with your mission over the experience that you might be looking for in the door.