The Forbes Billionaires 2019 list was released this week and one Billionaire mentioned having only 7 full-time employees ,5-part-time employees, all sales are done on-line, manufacturing and packaging is outsourced, and sales and fulfillment are handled by online merchant Shopify and last, the majority of the marketing is done through social media.
The top businesses that reached a Billion dollars where in IT, and utilized automation to scale their businesses. With the power of the Internet, smaller businesses now have the ability to reach consumers on a national and even global scale. At the same time - they also have the ability to reach highly-niches audiences. This ability to leverage digital to reach a large group of a particular niche audience is one of the powers of ultra-lean, high-revenue online business. With e-retailers becoming more prominent, ancillary businesses that specialize in key functions, such as fulfillment, logistics, and warehousing, have grown to create their own sub-industry. The rise of fulfillment centers has contributed to more and more jobs.
If having more freedom and independence along with an ultra-lean business with high-revenues is important to becoming a Million-Dollar Entrepreneur than an e-commerce business model is a great one to have. We love teaching entrepreneurs at 8-Figure Business Coach, Inc. how to accomplish having an Ultra-Lean, High-Revenue Business through our Million-Dollar Entrepreneur Workshops on-line and at our Washington, DC location. With convenience playing a defining role in how shoppers make a decision, companies can now connect with consumers via purchase and browsing history, interests and even location. Using this data, brands can target product suggestions and promotional deals, for a greater customer experience and increased sales .A personal customer experience extends to allowing consumers to shop and interact however they prefer it to be, but one of the most important one ways to stay above your competitions is by offering a touch of human experience via your customer service or customer support departments. With the combination of online, physical and mobile channels, today's shoppers are free to mix and match outlets based on their needs, such as buy online and pick up or return in store. Just remember to make people feel as if you care about them as customers and not just numbers. Ready to learn how to have an Ultra-Lean, High-Revenue Business?
Learn how here