5 Mis-steps that can lead to e-commerce failure

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e-commerce failure

This is a great talk from Sean Percival on the problems he had when launching an e-commerce business. He actually did very well by generating millions of revenue for his company. The problem that sank his startup underwater are common in the e-commerce space. This is a great opportunity on being aware of these issues.

Especially if you are new to this industry. Here are the 5 problems that hindered growth for his e-commerce business:
 
1. Thinking that passion outweighs experience
2. Shipping problems
3. Margins that are troublesome
4. Fundraising screwups
5. Not being good at marketing
 
One of the biggest take aways that I got from this talk was discounting your products. While it is nice to give a discount to get a new customer in the marketing funnel. The problem is that when you reduce your price so significant that it reduces the value of your brand. Even if a someone takes your discounted offer their value to your company as a customer may be next to nothing. In fact they may be a customer service nightmare.
 
Watch the video and make sure your e-commerce company does not walk the path to failure.

Mr. Singh is the CEO of AIRR Media with over 15 years of experience specializing in digital marketing and technology. He has helped startups increase their online revenue 10x using a proven framework for marketing businesses on the web.