4 Essentials to Planning Growth of Your Ecommerce Business

BRIAN BARRY | December 31, 2018

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Many small-to-medium ecommerce businesses do not employ sufficient long-range planning as part of their business culture. The old joke about the definition of long-range planning is operative in some companies, “Where are we going to eat lunch?”Large businesses have comprehensive processes necessitated by owners and investors and the need to communicate objectives and results to various stakeholders.While long-range planning can be time consuming in larger companies, smaller businesses can benefit from adopting some of the key best practices. Advantages include:A top-down and bottom-up planning process that can act as a guide to achieving business objectives with expense control and profitability. Planning cash requirements for inventory purchases, payroll and expansion that are in line with projected sales and resulting gross margin.

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Spotlight

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