You will always have immovable mountains like Amazon and other mega online platforms in your way that threaten your business. Do you climb the mountain, walk around the mountain or go through the mountain?
Successful business owners in today’s world need to be strong, resilient, optimistic, and solutions-focussed. The big online giants are here to stay, and pose a very real threat to retail businesses who choose not to adapt to the digital marketplace.
Online, accessible e-commerce platforms can be your ally. Retailers do not necessarily need to use Amazon as their platform - but at least consider providing customers with an online shopping choice. An online option may gain a retailer a new target audience they were not able to reach before.
Climbing the mountain – plunging in and setting up your own system to compete with Amazon. This may make things more difficult, especially if you are ill-equipped due to a lack of financial or human resources.
The thing is though, you don’t have to start from scratch. If you are not able to set up your own system, you could join an already existing online platform (ebay and etsy are just two great spaces for retailers) and leverage off their name and branding, whilst getting your own brand out there. You are now moving through the mountain. Investigate, research, and make an informed decision based on your business needs.
In order to survive and thrive as a business owner you sometimes have to make some tough decisions. Is it possible to walk around the mountain and create your own path? This is a great way to gain experience and knowledge, but can be time consuming and resource draining. Weigh it up and make a decision on whether this is for you. If you are unsure of which step to take, have a chat to one of our friendly, professional Business Advisory South West and Peel advisors. Call 1300 275 477 to book your free appointment.