Plan Aggressively, Scale Confidently: Scale Smarter, Faster in 2022
8fig’s Scale Smarter, Faster in 2022 webinar series prepares eCommerce sellers to rise above the noise with the tools, insights, partners, and resources they need to scale their businesses and reach the next stage of growth.
In 8fig’s very first webinar in the Scale Smarter, Faster in 2022 series, we discuss how to go big and plan aggressively for the future of your eCommerce business.
We sit down with a panel of highly qualified experts including Tyler Jefcoat, co-founder and CEO of Seller Accountant, Brandon Young, founder and lead instructor at Seller Systems, Liran Hirschkorn, founder and CEO of Incrementum Digital, and our very own Dana Oren, Head of Product at 8fig to get their take on how to plan aggressively and scale confidently.
Our experts reveal the differences they observe in the mindsets of successful sellers and struggling sellers, and highlight the hardest question that all entrepreneurs need to answer: What do you actually want to accomplish?
Once a business owner can answer that question, they can plan and mobilize around reaching that defined goal. Of course, most entrepreneurs don’t succeed on their first try, and the mindset with which they deal with failure is one of the most important differentiating factors between those who accomplish big things and those who do not. The most successful sellers do what it takes to learn and grow, lay out a vision, and make their own luck.
The next stage is planning backwards from a big goal, and our experts reveal the key elements they use to make a plan and achieve it. They also discuss how 8fig can help by offering both free planning tools and a unique funding solution specifically designed for eCommerce.
The next stage of the webinar addresses scaling your business and finding the balance between being too conservative in your strategy and taking on too much risk. It is a tricky question for any business, but there is a lot of money to be lost when sellers are not aggressive enough and run out of stock. In order to find the right level of risk, sellers should do the research, crunch the numbers, and trust their process in order to successfully scale their business.
It’s also crucial to make sure that your product is profitable and that your business model is cost-effective before making any big moves to scale. Testing keyword search volume and paying attention to external factors that could be affecting sales is an important move when setting goals and planning ahead.
It’s also important to ensure that you’re looking at the right data. Our experts share which data they’re tracking every day while gauging the success of their business and aggressively planning for the future, from cost of goods sold to the true landed cost, which can be quite difficult to calculate. A good visual dashboard, such as 8fig’s free Lines lab, can be an immensely valuable tool in determining the full supply chain cost and profitability, planning ahead, and understanding how to manage any disruptions that may occur.
Finally, our experts give their recommendations on how to make sure that cash flow matches the opportunities they are pursuing. Tyler, Brandon, and Liran divulge their best tips from advising sellers not to keep all of their eggs in one basket to being prepared to pivot and adapt in order to deal with new challenges in a constantly changing market.