by Kevin Cook

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Last Updated on: 30th October 2024, 08:04 am

There is business software for managing online orders. Some of them are Zoho, ShipWorks, Salesorder, etc. Order management software takes care of all your orders from start to end.

When a customer browses into your store they purchase a product, get invoices generated automatically by this software.

Manages your purchase and inventory. If you have a custom printing business, you receive orders and a schedule for printing and production.

Moreover, the outsourcing services like print fulfillment and shipping, the management software tracks all for you. Furthermore, if you are a distributor or a supplier, this software works for you well.

Top 4 Ways to Easily Manage your Online Business:

Managing an online business is not easy. Especially when you’re working for yourself. Because guess who is your own worst enemy? Yourself. And when it comes to managing yourself, it can be one of the hardest things to do in your life. Being an entrepreneur is hard because you have nobody there to call you on your stuff and to tell you to keep doing what you’re supposed to be doing and not to do things that are going to take you away from those profits and those revenues that you’re trying to create.

Now, let us discuss the 4 distinct things that you must follow in your business to grow to do up millions of dollars per year.

1. Measure your time:

The first trick to managing your online business successfully is measuring your time. Now, this may seem totally counterintuitive because the reason you probably want to start your own businesses so that you can just be free and be like a little you know wildflower hippie, and not ever watch over where it’s you do whenever.

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So, if you work on an activity for 30 minutes, let’s say you are designing a new ad on Photoshop. You can right down the design a new add-on Photoshop, .30 minutes. And I do that throughout the entire day. You will be astounded at how much time you lose each day to complete and utter nonsense, okay? It’s true. Scrolling around on dicking around on Facebook. I’m just going to call it. Like it is don’t dick around on Facebook if you want to make money and be a serious entrepreneur.

2. Don’t let yourself fall into that trap:

Create ads and launch campaigns on Facebook, Google, YouTube. Now, if you are not putting up advertising or optimizing advertising, then I am NOT doing the activity that makes me money. Plain and simple. Judging by that, I spend a lot of time not doing advertising which is not good. You can find ways to justify that you are working on your business.

Measure your time as an entrepreneur or whatever you’re doing. Measure your time for a week. See where it goes, see how much gets wasted. It’s unbelievable.

3. Key Performance Indicator

The second tip to managing your online business is knowing and measuring your KPIs. Now, if you don’t know what It’s a business management term called Key Performance Indicator.

The key performance indicator for me is how many ads did I launch? How many new campaigns did I launch this week? if I’m launching five campaigns a week,

Another person, it might be, how many proposals did you send? How many calls did you make? How many products did you list on Amazon? And lastly, how many products did you list on your Shopify store? It could be any number of things.

But a key performance indicator is something that’s in your control. It’s in your control to influence.

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The more in control to influence, the better. Launching ads is a KPI because it is within your control. Making a cold call, reaching out to somebody, a prospect to close a deal.

KPI within your control. An example of a KPI that is not in your control would be how much money you make. You know, how many profits did you make or how many uh appointments. Now, how many appointments to schedule is within your control.

That is not a KPI because it’s not necessarily within your control. It depends on if you’re at is profitable. Launching ads is within your control.

Putting up YouTube videos is a KPI. I need to be putting up a YouTube video a day.  And that’s something you control. But the point is that’s a KPI, that’s within my control.

Know your KPIs, measure them if you’re an entrepreneur.

4. Maintain a Spreadsheet:

Tip number 3 for managing your online business is to have a master spreadsheet for everything. It could be another tab. Maybe you have a spreadsheet in one tab as your time measurement. Or, maybe another tab is your KPI.

Maybe you’re doing sales and you just call in people or you know you start an ad agency or your launching ads. You know, you write down each of those campaigns.

Maybe the next tab is has a master spreadsheet with your expenses in it. What are you spending on your business? Are you investing in a program? But there are other training courses. You know, step-by-step things which you can get in really any business. Social media marketing, Amazon, FBA, Shopify, drop shipping, etc. That’s an investment.

Make sure to mark that down. If you’re spending money on other things. Let’s say you’re starting an ad agency and you just got a whole new wardrobe so you can look like money when you go out and meet with clients. That’s an expense.

How much money have you spent on your business? How much money are you making? And lastly, how much revenue.

Write it all down. Keep a spreadsheet of everything you’re making, everything you’re spending, and keep your numbers in sight.

Generally, time goes down. You know, on the spreadsheet it’s unlike the left side and. And your metrics are the different columns. Or how much commissions are you earning? Or how much are you spending? Did you launch more campaigns this month versus last month?

There are tons of excel videos out there. Did you make more money in affiliate commissions this month or did you make less? And lastly, did you make more money in sales this month or did you make less? I look at all these different numbers and I figure out where my time went, where my money went, where my money came from. And you know, if I was in my KPIs and I have it all in a spreadsheet. Update the master spreadsheet on a monthly basis.

5. Agencies:

You can hire an agency for everything. In the olden days, you used to have to hire employees to do anything you want. Do you want support? You have to hire an employee to handle your support.

You want to do marketing, you have to hire an employee to do marketing. Do you want sales? You have to hire a salesperson. Do you want to do accounting? You have to hire an accountant. That’s all wrong. That’s all gone away. Therefore, you don’t need any employees anymore.

You can run a let’s call a significant business and I have zero employees. The reason why is because I have agencies that do everything for me. You have an agency that runs your support. Moreover, you can have an agency that does accounting. You can have an agency that does my bookkeeping. You can hire another agency that does my tax planning.

As a result, you have no employees, and agencies are very easy to work with. You know you don’t have to worry about workers comp cases. If somebody gets injured, you have to get workers comp insurance so you don’t have to worry about you know paying their taxes. You don’t have to worry about all these different things that come with having employees. You don’t have to get off the space, you don’t have to get the internet. Moreover, you don’t have to buy all computers.

Furthermore, you may shut down your cost so much and you allow yourself to be free to focus on whatever is the main things you are about your business. And I believe every business should be focused on whatever their product or their service is. Moreover, that’s something only you can do or maybe it’s marketing. As a result, it allows you to focus on ads. But the point is,

Regardless of the traffic agencies,  Google, Facebook, YouTube, Twitter, Instagram, Snapchat ads can help you in your business.

Final Words:

That’s all you need and you know exactly where you are in your business. But beyond a doubt, you need the very first starting spot.

If you do aren’t making any money in your business, measure your time. Moreover, if you’re just learning, measure your time. If you haven’t even started your business yet or decided on what you wanted to do, measure your time.

If you’re not measuring your time, you’re letting it get away from you not treating yourself seriously. And once you know what your business is, start measuring your KPIs and just docking there. Say you need to make 25 cold calls a day if you want to hit your numbers.

Whatever that is, know and measure your KPIs. As you start getting revenues and expenses, you know, all that other stuff, maintain a master spreadsheet, and as you start really growing and you need to hire people, you need to outsource certain activities in your business, you can start a spreadsheet to manage all of the agencies that you hire.

Lastly, I hope this has been helpful. This is how you can manage my business. It’s not very complex. Moreover, It’s just a couple of spreadsheets

Related Topics day in the life of a shop owner how to manage orders online orders organize your business

Do you have printers? Are those printers sitting idle?

Become a Print-on-Demand dropshipping app like Printful or Printify. Dropship your merchants' orders.

Know more