It Takes More Than Luck
The truth is, many E-commerce businesses do see failure. In fact, the stat is about 80% lacking to find success.
However, that 20% that find the right formula and thrive, clearly have put in the work, done the research, and know what to do right. It’s not all pure luck.
To succeed online takes more than a responsive website. It takes knowing your market, competitive edge, as well as price leadership.
As an incubator of successful brands at companies, we have learned to spot out the truly successful e-commerce shops that have the potential to create recurring cash flow.
We talk about leadership quite a bit. Truthfully, it has many forms. One being reputation.
Building a reputation as an industry-standard label, providing quality, innovation or quality are all going to serve anyone that has that reputation in the online space.
Market leadership means to be leading the market in quality, innovation, customer service, or even guarantees. It takes consistency, as market leadership is not easy to maintain. It takes creating that formula and executing it over and over again.
Thinking of Investing In A Company?
Companies can also move toward market leadership by buying and merging with other successful companies to improve their market share, vertical and horizontal integration, and technological bases. Read more about how we do this here.
If you are looking to invest in a company, you may want to look at:
- does the company have a competitive advantage?
- do they have above-average management techniques in place?
- what do they look like in terms of market leadership?
This is a start, and while you can’t tell the whole story by just a quick glance, it helps to evaluate if a company is a fit for you or not.
Success in the e-commerce world is not a guarantee, but we seem to be able to identify those that have a high chance of achieving it.
At 1440 Ventures we build, acquire and grow companies. The group offers a full suite of services for accelerated business growth. They help businesses and organizations dream big, set achievable goals, and give them the tools to accomplish them.
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