5 Essential Characteristics of Entrepreneurship

Do you have dreams of walking away from your 9-to-5 and finally turning your great idea into a thriving business? Perhaps you’ve got a bit of the entrepreneurial spirit. Anyone with this ambition takes on the risks—and rewards—of their efforts. 

Business leaders are unique, but they typically share certain personality traits that increase their chances of success. Here are some exemplary characteristics of entrepreneurship that you can explore.

What is entrepreneurship?

Entrepreneurship is the process of developing and running a new business to generate profit, while balancing financial risk. A great entrepreneur finds new ways to solve problems and deliver value to customers, often by introducing new products and services or creating new markets. 

Ecommerce business owners are one type of entrepreneur. They leverage the internet to sell their products and services, using tools like social media and search engine optimization (SEO) to maximize their reach.

Five essential characteristics of entrepreneurship

You might have some or all of the entrepreneurial skills it takes to start a business. If you don’t, you can develop them over time. Traits of an entrepreneurial mindset include:

  1. Risk-taking
  2. Vision
  3. Discipline
  4. Adaptability
  5. Leadership

1. Risk-taking

You’ve likely heard the adage, “No risk, no reward.” That can be true when launching any business venture. The primary reward of starting a successful business is profit, while the inherent risk is failure—and the personal and financial setbacks this might entail. 

About 75% of venture-backed startups fail for various reasons—cash flow problems, supply chain issues, high employee turnover, and even unforeseen events like a global pandemic—so successful entrepreneurs need some level of risk tolerance. Still, many entrepreneurs take steps to actively manage their risks and protect their business. For example, business founder Edwin Broni-Mensah launched his social impact company GiveMeTap, which aims to make safe water more accessible globally, as a side hustle before jumping in full-time.

2. Vision

Every venture starts  with a vision: the desired direction of the business and its overarching pursuits, even if they seem difficult to achieve. Stakeholders, like your employees and investors, look to you—and your vision—for guidance, motivation, and decisive leadership, especially when the going gets tough. While your mission statement defines your organization’s business objectives and how it intends to reach them, you can also create a vision statement to declare your aspirational goals. 

Consider Passionfruit’s vision statement: “To create inclusive clothing and accessories that enable you to show your pride all year round while giving back to our community.” This statement focuses on allowing people to express themselves through clothing and apparel. It reminds customers the brand is aligned with LGBTQ+ values and promises to support the community by giving back.

3. Discipline

When running a new venture, you sometimes get tired or run low on self-motivation. Entrepreneurs need the discipline to move forward and do the work—even when they don’t feel like it. Being disciplined can be especially helpful if you’re developing an entirely new business concept, like Sarah Paiji Yoo did when she created a company that makes tablet-form household products. 

If you need to develop discipline, focus on establishing healthy routines like writing down your goals, creating a schedule, or exercising regularly. When challenges arise, be persistent until you reach your goal. Part of what makes a leader successful is their ability to use failures as opportunities to learn and grow.

4. Adaptability

While being prepared for every scenario is nearly impossible, adaptable business leaders adjust to change with a positive attitude. Adaptability is an essential personality trait in a world of evolving business practices and changing demands. Versatile leaders are comfortable with failure (or success) and have the resilience to overcome challenges quickly.

When entrepreneur Mike Salguero realized one of his businesses wasn’t taking off after several years, he noticed a different opportunity in the marketplace—shipping high-quality meat products under a subscription model—and started ButcherBox, which took off.

5. Leadership

Leadership is the ability to influence and guide others, whether a small team or a large company. Good leaders share their vision, develop well-rounded teams that complement their abilities, and have confidence in themselves and what they sell—skills that apply to every type of business.

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

Source: https://www.shopify.com/blog/characteristics-of-entrepreneurship

5 Steps To Supercharge Your Customer Referrals

Customer Referrals are the bread and butter of any business owner.

It is no secret that “Word of Mouth” or Customer Referral Business is one of the most effective ways to bring in new clients while simultaneously strengthening relationships with your existing customer base. But even though it is extremely powerful and virtually free (or at most costs very little), very few business owners use it anywhere near its potential!

Consider this:

If you got just one referral from each of your clients over the next 60 days, you’d probably double your client base! What would that mean to your potential income, and how many more people would you be helping in supportive and uplifting ways?

So, how do you maximise word of mouth in your business? Here are 5 steps you can start to take right now…

Customer Referrals Supercharge Step 1: Really appreciate your clients and consistently tell them that you value them.

This is the most important yet overlooked element of creating endless referrals. Many businesses focus more on profits than on people. Focusing on profits alone can be detrimental to success, and ‘Word of Mouth’ success comes from looking beyond just profit into how you can enrich your customers’ lives.

Your Plan of Action:

At least once a month, take the time to communicate to your clients and show them you appreciate them.

Send them something of value, something unexpected, a bonus report, a special piece of news you just found. Make it relevant to them and do it regularly.

Customer Referrals Supercharge Step 2: Create an exceptional experience each time they deal with you or your company.

If you can make doing business with you an exceptional experience, your clients will want to tell many people. People want amazing experiences!

Here is an example:

There is a Business Coach who has a special relationship with a coffee shop (a past client). Once every 8 weeks, he invites his in-person clients to a ‘brain trust’ meeting, and the coffee and cake are on the house. Every client that attends gets a card and a voucher from the coffee shop owner to say, ‘Thank you for joining us today; we would love to see you again soon. The voucher is a buy one get one free coffee voucher. So they are encouraged to come back again. And because the coffee shop owner is exposing his business to potential new clients, the coach pays just the cost price of the coffee and cake his clients eat. Normally about 8 clients attend, and the cost is around R800. Just a little extra touch can make dealing with your business that much more of an exceptional experience!

Your Plan of Action:

What can you do now to add little things that make an exceptional experience? Perhaps you can use the above example or something similar in order to network with other professionals while simultaneously providing amazing value to your clients. So remember, start creating exceptional experiences today.

Customer Referrals Supercharge Step 3: Give your customers incentives for giving you referrals.

You’re sitting on a gold mine if you’re passive about referrals. Come up with ways of rewarding your clients for referring business to you. For example, they could receive free gifts, such as a 60-minute coaching session with you, a certificate for a massage or a nice dinner, or perhaps even a financial reward (i.e. R500 gift card). No matter what you choose, the key is making sure that whatever you choose to offer is something that your client will really be attracted to!

Your Plan of Action:

Reward your clients for referring people to you. Come up with rewards that will be beneficial to your clients. For example, if you work with clients who routinely use a lot of equipment in their job or enjoy shopping, a Takealot gift card might be a very motivating reward for them! Perhaps you can give them a 10% cash referral. And if you are stumped on a gift idea, remember that money is always a great motivator as well!

Customer Referrals Supercharge Step 4: Make it easy for clients to give you referrals.

If you want to get many referrals, you must make it incredibly easy for your clients to tell their friends. Don’t expect them to go way out of the way to help you grow your business. Make it as simple as possible.

Your Plan of Action:

Develop a ‘referral package’ that you give to your clients. Ask your clients to be ambassadors for your business as you wish to work with people similar to them. The package would include a professionally designed document explaining why referrals are important to you and a series of referral cards/invites/links that your client can easily share with others and post to their social media accounts. Always make sure to present everything very professionally to increase the perceived value of your offer/services and put your best foot forward with your new potential clients!

Customer Referrals Supercharge Step 5: Ask at the right time!

When is the best time to ask for referrals? Any time! If you have followed the steps listed above…you’ve let clients know they are appreciated, you have consistently given them an exceptional experience, you have provided an enticing incentive to share your message with friends, and you have made it incredibly easy for them to do so. At this point, you should not only be able to ask your clients for referrals at any time, but you should also receive very positive results from it as well!

Your Plan of Action:

The key is to do something now! Draft up an email today and just send it off to your clients, letting them know how much you value them and how much you have enjoyed working with them in the past, and include something that will be helpful/provide some value to their lives. Then over the next 4 to 6 weeks, develop your ‘referral package’ and start to use it. Take yourself out of your comfort zone and take action…Your business and new referral clients will definitely thank you for it!

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

The article sources from: https://jtbconsulting.co.za/5-steps-to-supercharge-your-customer-referrals/

Starting a New Business ― 3 Ugly Emotional Costs Know Before

Starting your own business means that there are a lot of costs involved. Employee costs, the cost of funding (capital), the cost of marketing, and the cost of monthly expenses. But why do we never discuss the biggest and perhaps most crucial cost – the emotional cost of starting your own business?

Imagine if we could express how much “emotional capital” we have in the bank in numerical terms. The amount of endurance, the amount of positivity, the amount of joy, the amount of physical wellness we have left. New entrepreneurs and startups run out of financial and emotional capital when starting a new business. Starting your own business may sound fun and easy, but it does take its toll on you.

Considering Start Your Own Business? Let’s be honest for a minute.

The problem is that we don’t discuss how we run out of emotional capital. It is a taboo topic in a world where every second Instagram or LinkedIn post shows a successful entrepreneur (or so it seems). It is easier to hide this “empty emotional bank account” from the world. Failure is arguably our biggest fear. In a world where success (real or not) is thrown in our faces on social media and television, why would we want to share our failures?

Business failure is no joke.

The areas in which we feel real pain can be summarised as follow:

1. To Start Your Own Business: The Cost of being Numero Uno, Really Alone.

If you worked for a boss in the past, you had three things that you probably took for granted – a guaranteed salary, peers and co-workers. You arrived in the office every day, mingled with people, were introduced to countless more people, enjoyed lunch and happy hours, complained about your boss, and most of the time enjoyed being able to sympathise with co-workers that are in the same situation as you.

Being a startup’s founder is like being the new neighbour on the block, yet no one ever comes knocking on your door with freshly baked cookies. It is a genuinely lonely feeling. No longer do you have peers or co-workers. And now, you are the boss, and you can’t complain about the boss anymore. Staff meetings are primarily between you, yourself and the voices in your head.

And when you manage to go home, after endless hours of burning the midnight oil, things don’t get any better. Your better half may not fully understand the battle you are going through. Likewise, your family and friends still can’t understand why you left a stable job, gave up a career and are heading down this path of being a lone wolf entrepreneur.

If you are honest with yourself, the chances are that the emotional cost of being an entrepreneur (alone) will or has already taken its toll on most of your relationships. To start your own business means you’ll make mistakes.

2. To Start Your Own Business: The Cost of Playing the Long Game. Waiting. More Waiting. And Yet More Waiting.

When you started this dream business, it felt amazing. You were full of energy, having almost found that pot of gold at the end of the rainbow. You are free. You are your boss. You can do what you want. The money will roll in!

Every task you completed felt like significant progress – “Yay! I registered a website domain! Whoopee, my website is up and running. Hooray, I got my first call”.

These first wins came quickly, and you were on cloud nine! But then this period wore off. These weren’t a bunch of wins day in and day out. It is a bunch of waiting for wins and praying for wins. That little devil on your shoulder is telling you that you can’t be sure there will be more wins. That first client that signed with you was excellent, but it took a while for that second client to sign up. And where in the world will you find the third?

Days turned into weeks and weeks into months and months into quarters, and still, every morning, you wake up believing that the breakthrough, that real victory is just around the corner. And apart from your empty bank account, your emotional account is nearing zero. Never in a million years would you have thought how absurdly long this journey would take.

You probably knew that starting a new business would be fast-paced, but no one ever told you that fast-paced wasn’t synonymous with rapid growth and quick gains. Fast-paced was another term for constant late nights and a truckload of work. Your expectations were probably wrongly set to start with. It doesn’t take five months to reach success. It takes years, if not decades, to grow a business. Be honest with yourself. Are you in it for the short-haul or the long game? Perhaps it is time to realign your expectations with reality and facts.

3. To Start Your Own Business: Middle of the Month Salticrax. Going Broke and its True Cost.

Playing the long game will require emotional stamina that you may be able to gather, but you may not be able to have control over the financial stamina. So when the clouds disappear and that cloud nine feeling wears off, you sit at 1 a.m. with three browser tabs open. One highlights your bank account balance which is freefalling to zero. The second is your credit card balance which is nearing its limit. And the third shows full-time positions advertised on LinkedIn, inviting you to return to the corporate world.

You’re past the point of convincing your better half or family members from whom you borrowed money that “we’re investing in the future!” and onto the point of “I have no idea how we are going to keep the lights on soon”. Although, you don’t have to answer that question as Eskom will answer it for you with its regular load shedding.

What exacerbates this emotional cost is that it never seems like anyone else is facing the same problem. I find it laughable and sad at the same time that there are entrepreneurs out there that portray a picture to the world that it is easy to get rich (e.g. posts of a new entrepreneur standing next to a new Range Rover saying that I have finally made it). In my opinion, if you started the business to get rich, you should probably close your doors right away. That should never be your goal.

It would help if you considered your business (startup) as a means to an end. The eventual end is a startup that will one day leave a small legacy you can be proud of with enough food on the table, but the means right now are doing anything to keep the lights on until that day comes. Sometimes that means another part-time job. Other times that means living below your means.

To Start Your Own Business: Why Don’t We Get Real?

We need to stop pretending we are superheroes that can build a new business from nothing with no real serious toll along the way. Relationships perfect. Finances amazing. Stress levels are low.

Success doesn’t come for free. It wasn’t easy. Whatever you think of the person/people you aspire to be, the chances are that they spent 100x more in emotional capital than the risk they took in funding the business with personal capital.

Just take this to consideration before ready to start your own business is essential for every one.

Hope your business trip colorful!

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

The article partly sources from: https://jtbconsulting.co.za/starting-your-own-business-3-emotional-costs/

E-commerce Is Becoming A Main Driver For SA’s Small Sized Businesses

While the majority of South Africans remain drawn to physical retail and the tactility and engagement it provides, investments in e-commerce are essential for future business growth.

According to the Online Retail in South Africa 2022 study by World Wide Worx and Mastercard, online retail in South Africa passed the R50bn milestone in 2022. While online sales still comprise under 5% of total retail sales, there’s been close to 40% annual growth in total online retail spend over the past two years and a similar growth rate in the total number of people shopping.

As a dynamic industry on the precipice of explosive growth, “staying relevant in the e-commerce world requires keeping up with the constantly shifting landscape – be it through the rise of sales through TikTok, and how businesses can adapt to the potential impact of artificial intelligence, or learning about selling to the Gen Z market,” said David Adams, chief commercial officer at online payment gateway Payfast.

The payments company is once again the headline sponsor of the annual PayFast eCommerce Virtual Summit taking place this month on 14 and 15 March. Hosted by Insaka eCommerce Academy, the summit gathers representatives from global e-commerce players including Meta, Google, Amazon Web Services, WooCommerce, Shopify and more to share valuable insight and guide entrepreneurs and businesses at any stage of their e-commerce journey to leverage trends and grow online sales.

Speaking during a virtual roundtable this week ahead of the summit, Adams commented on some of the evolving challenges and opportunities in the e-commerce space that PayFast is witnessing.

“We’ve seen significant change in what we’re being asked from consumers and what we are being asked from merchants; the dialogue has shifted a bit. Previously, conversations revolved around ‘how do you give me safety, security, stability?’ Now, conversations have moved on to ‘how can you deliver more of an immersive experience for me?’”

Adams also noted that for merchants wanting to capture the attention and spend of Gen Z shoppers, the challenge is less about migrating consumers from the physical channel to online, but satisfying digital-native buyers who have grown up online. Gen Z shoppers have significantly higher expectations when it comes to experiencing a convenient, frictionless journey, he said.

Mobile optimisation

Marko Stavrou, an 18-year-old entrepreneur, Gen Z marketing consultant and founder of HustlersGlobal and Stavrou Consulting, was also present and expanded on the importance of Gen Z consumers particularly in the African context. “Africa has the fastest-growing population, and over 60% of Africans below the age of 25,” he noted.

He stressed the importance of customer segmentation for the purposes of personalisation, and the critical mobile-first approach required to engage with younger consumers. “Mobile converts 137% better than the web, and yet for most of the SMEs in Africa, mobile isn’t optimised. You go onto their landing pages and the text is diverted and the images distorted. How can you expect someone who’s grown up online, who expects it to just work, to buy your product or service? They won’t.”

Stavrou said that since Gen Z spends large amounts of time interacting on social media and mobile messaging apps, platforms such as WhatsApp and iMessage are far more effective at engaging with this generation than email is. “When looking at customer acquisition strategies with clients, we don’t focus on email. If we do, we make sure that it’s optimised for video.”

Quick commerce

Donald Valoyi, founder and CEO of on-demand grocery delivery service Zulzi, unpacked the growing importance of convenience and quick commerce in boosting the growth of e-commerce.

Zulzi was the first retailer in South Africa to offer one-hour deliveries, and this delivery window has since been whittled down to just 15 minutes. “Speed is so critical in driving growth for e-commerce. People don’t want to wait for too long. If you look at South Africa in terms of convenience stores, they are everywhere. The moment you are not able to offer services that are quick enough, then people ask themselves, ‘why can’t I just drive to the store?’”

The Zulzi team also had a hand in building the popular Checkers Sixty60 app. “After Sixty60, people recognised the importance of speed.

Today Shoprite Checkers has got almost 75% market share, and that market share has to do with speed. In the areas that we operate, Zulzi comes second after Shoprite Checkers in terms of volumes, and that tells you that speed is critical,” Valoyi said.

New era of the internet

David Lockie, the Web3 lead at Automaticc, the company behind WooCommerce and WordPress, expanded on the meaningful impact the internet has in modern society and its evolving role as Web3 presents the next era of the world wide web.

“The internet is now fundamental for people to make a living, which is what people care about. They care about putting food on the table. The internet is the way that people are increasingly relying on doing that. I think that’s a trend that’s going to continue as we see the encroachment of more immersive experiences, more ‘softwarerisation’ of societies that we live in, and more connections between the real world and the digital world, such that those lines become increasingly blurred.”

Lockie spoke of the number of brands that wanted to leave Twitter when Elon Musk bought the platform. “They realised that they couldn’t because their content and their social graph were stuck on Twitter. I don’t think that’s the most anti-fragile or creative way that humans can connect and create value together.

“Web3 offers us a chance to do that, a chance for us to all own our own identities if we choose to do so, or to trust another organisation to manage them on our behalf, to tie those identities to our content, to our social graph, and to transact freely. For me, Web3 is about the freedom to transact so that I can choose to sell anything to anyone, anywhere, at any time, and that anyone else can interact with that transaction in interesting ways.”

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

The article partly sources from:  https://www.bizcommunity.com/Article/196/394/236479.html

‘Buy now pay later’ to aid the growth of e-commerce

Buy Now Pay Later (BNPL) is revolutionising how e-commerce merchants trade in an increasingly competitive market, and the payment method is only getting more attractive for consumers and retailers alike, says The Digital Media Collective (TDMC) founder Cheryl Ingram.

Historically, delayed retail payment options like credit and store cards have come with prohibitive elements – mainly draconian post-purchase interest rates and the threat of entering into a dangerous debt cycle. A BNPL payment gateway allows the consumer to receive their goods upfront and pay them off over an extended time frame, absolutely interest-free. “It is a gamechanger for consumers wanting to participate in safe retail transactions while enjoying immediate gratification. And for retailers it has far-reaching positive consequences,” states TDMC.

For online retail marketing agency TDMC, integrating BNPL payment options on its Shopify-driven sites has proven to be an essential part of the agency’s suggested strategy – at last count, more than 50% of its retail clients had opted to integrate PayJustNow as an additional payment platform alongside their usual channels.

In an economic environment where consumer cash liquidity is becoming scarcer, and credit interest rates have risen, BNPL as a payment solution is golden, says Ingram. “We see incorporating a BNPL solution as benefitting both consumers and retailers – retailers are able to cast their consumer net further than before, and since the credit parameters are far less repressive than traditional banking institutions, in turn their basket values are rising.

“BNPL mechanisms also mean fewer consumers are being pushed into a debt trap – we think this payment option contributes to more responsible lending which is especially relevant in the South African retail landscape,” she says.

How BNPL works

For BNPL users the premise is simple, albeit with a few variations across different providers. Once approved as a purchaser and it’s clear you are good for the transaction (having made an initial full upfront purchase via the payment portal), you can then enter the extended-payment system. For PayJustNow users that means a 1/3 immediate payment on purchase, followed by two equal interest-free debits in the following two months.

Your credit limit is set for the first few transactions, after which you as the consumer may apply for periodic credit limit increases. For the consumer, it is a no-hassle opportunity to get the things you want and need, ranging from fashion to fine jewellery and even car tyres – with no unnecessary surprises, explains TDMC. The retailer is paid immediately on transaction.

What’s in it for the retailer?

If the consumer is not paying any interest, then surely the retailer carries a hefty portion of the cost and risk? “The merchant does pay a slightly larger fee than they would for processing a credit card, but the merchant carries no risk and is settled immediately in full, less our fees. The real opportunity for the merchants is larger basket sizes and significantly more checkout conversions due to simplicity and affordability,” explains founder and CEO of PayJustNow Craig Newborn.

The BNPL trajectory is showing no signs of slowing down, says Ingram. “When we started onboarding clients into the PayJustNow framework in 2019, there was some initial scepticism, but since we now have such excellent statistics to share, most of our new clients sign up immediately.”

Easing checkout friction

BNPL is a proven solution to a final checkout friction point, says Ingram, and the trust in BNPL is compounded when retailers see an increase in return customers. “Some of our merchants are now seeing up to 35% of their monthly sales fulfilled through PayJustNow. It’s a niche offering that is rapidly becoming a mainstream one,” she says.

“While consumers are certainly feeling the pinch, BNPL as a payment option means they are still able to maintain a level of buying power without compromising on essentials like groceries and electricity,” states Ingram, explaining that the company sees it as a “more conscious form of consumerism”.

While there’s no doubt that BNPL removes some of the guilt when making indulgent sneaker purchases, more retailers with higher price point items are also joining in on the action. “We have seen exponential growth in basket size and are increasingly seeing more high-ticket vendors joining the ranks of BNPL,” says Ingram.

PayJustNow stats underscore this. “Since launching in 2019, we have seen the number of PayJustNow transactions increase 360% year on year. In the past two years alone, PayJustNow transactions have risen by an astonishing 2,300%. In 2019 we launched with just 10 retailers – we now have over 3,000 using the service on a daily basis,” says Newborn.

Ingram adds that including a BNPL option can also increase customer loyalty. “What BNPL has done for our retailers is both practical and emotional – people feel that their favourite retailers are looking out for them and really understand their real-life challenges. Traditionally there have always been four Ps in marketing: Product, Price, Place, Promotion – we see Pay Later as the fifth and crucial key to surviving and thriving as a 21st century online retailer.”

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://www.bizcommunity.com/Article/196/163/236377.html

SA’s ecommerce blooming playing field

By 2025, the value of ecommerce transactions in SA is expected to reach R225bn, as reported.

The market itself is estimated to reach R400bn the same year, facilitated by more than 1 billion transactions annually, pushed by the ‘convenience factor’ as consumers found their fit during the long days of lockdown.

Add to this growing basket the recent announcement that Amazon will be setting up South African headquarters in 2023 – there is no doubt that the industry can expect some dramatic shifts and disruptions to retail markets.

As the growth of ecommerce exploded around the world and into Africa, this type of expansion is inevitable. Amazon has plans to make their mark in new territories that not only include Africa but also South America, and Europe. A move that makes sense, as their year-on-year growth in net sales lost traction from 44% in Q1 in 2021 to 7% in Q1 2022 – the slowest in the company’s history.

Closer to home, BizNews recently reported that South Africa is an excellent choice for Amazon.

It is Africa’s most advanced economy with an already strong local presence with their AWS office in Cape Town and another opening in Johannesburg. That said, the company is set to establish its own marketplace, with local online retailers like Takealot.com, Superbalist and Mr D Food impacted and at risk of losing market share. Brand owners and the sector at large will certainly face challenges when fast tracking their businesses online, as the hot breath of the world’s largest online retailer sets temperatures rising. Fantastic for consumers but a concern for local brands.

Speaking to IOL, CX consultant Julia Ahlfeldt, co-author of the 2022 SA Digital Customer Experience Report, added, “It’s a dog-eat-dog world, which is why local brands must up their ante to guarantee that they can stand-up against or alongside international apps and offer a seamless customer experience.”

Focusing on the next chapter with 2023 in full swing, the following trend observations should be considered as ecommerce strategies continue to evolve (courtesy of http://www.itnewsafrica.com):

The growth of mcommerce

With Statista reporting that some 78.6% of South Africans access the internet with a mobile device – means that well-designed modular mobile-friendly websites and apps with effective secure handling of transactions will continue to enable businesses to modify and grow their features for an enhanced user experience.

AI and web automation 

It will be key to maximise efficiency and customer satisfaction as well as take the monotonous and time-intensive tasks away from employees who are then freed up to attend to more important functions.

Progressive web apps 

It offers key functionality, allowing businesses to seamlessly synergise updates between their website and mobile apps without affecting information, functionality, and page layout.

Social media advertising

Social media advertising will have trusted influencers making a significant impact on consumer spending habits with GlobalWebIndex reporting that 27% of young people are using social media to find things to buy. A powerful platform for connecting on a more personal level.

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://www.ecommerce.co.za/article.aspx?s=178&a=8887&title=Landscape

5 Traits Needed To Be An Entrepreneur in SA

Amidst record-high unemployment, especially amongst our country’s youth, entrepreneurship has never been more important. Yet as a 2020 study by the University of Stellenbosch Business School (UBS) revealed an alarming 49.8% of South Africans continue to fear failure, deterring them from taking the leap, becoming an entrepreneur and launching their own businesses.

This same study noted that only 60.4% of respondents believed that there were opportunities out there, and that they had the skills necessary to start and successfully run their own business.

To the contrary, however, after years of observing the enormous talent and untapped potential of South Africans for innovation, it is not a lack of opportunity but rather flawed mindsets that are preventing more individuals from realising their entrepreneurial potential.

As a country, we urgently need to address these mistaken attitudes, and work to instil more confidence in our youth if we are to achieve a thriving, job-creating economy.

In keeping with this, here are the five traits needed for an aspiring entrepreneur to achieve success:

1.Courage

You do not need thousands of rands to launch a business. Some of the world’s most successful businesses were founded on shoestring budgets in people’s garages, including the likes of Microsoft, Google, and Amazon. “In 2011, I founded my Human Capital and Facilities Management subcontracting company, with R500 in my pocket, and today the company employs over 36,000 staff across various industries,” says Arnoux Mare, CEO of Innovative Solutions Group.

Successful entrepreneurs do not wait until they have perfected their business ideas or product. Acting quickly to seize opportunities is more important, and you can improve your product or service offering as you go along.

2. Focus

One of the largest stumbling blocks for start-ups is losing focus on your core service and purpose. Financial graveyards are littered with businesses who tried to be everything to everyone, and instead failed to satisfy anyone. Define who your target market is, what unique need your business is fulfilling, and play to your strengths.

3. Agility

In today’s highly competitive environment, it is important to remain agile to any market trends and opportunities to stay ahead of the pack. Encourage innovation, and invite new ideas and suggestions for improvement from staff and clients. Simultaneously, don’t be afraid to adapt your strategy in response to learnings and developments. Be stubborn about achieving your goals, but flexible enough to adapt when things don’t work out as planned.

4. Willingness to listen

Great people make a great business, and a smart entrepreneur not only surround themselves with the best talent but are willing to listen to their input and be guided by their expertise. There’s a reason that your employees are there – and it’s not just to fill seats.

Successful leaders learn from the successes and failures of others. South Africa is full of brilliant entrepreneurs and experienced businesspeople who often offer free advice on social media or through webinars. Listen to what they have to say and implement their successes and lessons learnt in your business.

5. Self-discipline

Entrepreneurship is incredibly rewarding, but also demands your blood, sweat, and tears to be successful. Be prepared to work long hours as you build your client base while ensuring your operations run smoothly. You will also need the self-discipline to avoid procrastinating over difficult tasks, and to remain calm and work through stressful situations even when you are under pressure.

Finally, don’t be afraid of mistakes – the difference between an entrepreneur who succeeds and those who don’t is not failure, but rather the willingness to pick themselves up, brush themselves off, and persevere.  That’s how successful businesses are built.

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://bizmag.co.za/5-traits-needed-to-be-an-entrepreneur/

How to include TikTok when building a winning brand?

TikTok saw a stratospheric rise in climbing the ladder towards becoming a social media brand leverage giant. The app has changed the way information consumers consume content. With over 1.53 billion users worldwide, it is no surprise why many brands wonder about using TikTok for Business as a pivotal content marketing channel choice.

Understanding the role of reputation as a business asset is critical. Reputation management shapes and influences the public perception of an individual, company, or brand. Today, the most accessible way to communicate is through the internet, meaning online reputation management is essential.

Corporate business is paying attention to TikTok and how brands can use the video-sharing platform to drive brand awareness and business growth. The industry is embracing TikTok into their arsenal of weaponry to manage and safeguard their reputations.

As with all social media platforms, there is a reputation risk to take heed of, but with understanding and careful planning, marketers can reap a treasure trove of the platform’s rewards!

Consideration 1: Reputation management

Successful online reputation management depends mainly on controlling the narrative. That means planning and managing how your organisation communicates and engages online. Certain websites, social media platforms and news publications may not allow complete control of your organisation’s (brand) narrative, which brings risks. Before signing up to join any online channel, investigate the level of control you will have in managing your organisation’s reputation – this will come down to either complete control, moderated control, or no control.

  • Total control domains support your organisation’s right to free speech. It includes your website, blog, and any secondary websites your company owns.
  • Moderated control domains provide access to an established online platform where you can communicate as a contributor but where a third party vets your content. This category includes sites like Wikipedia and digital magazines.
  • No control domains are high-risk domains as they don’t allow any control of your organisation’s narrative online. Social media platforms fall within this category.

TikTok falls in the “no control” category, yet so many companies take the risk by getting a TikTok account regardless.

Consideration 2: Business purpose

Investigate how the platform will add value to your organisation. TikTok grabbed the attention of its inspired consumer audience, allowing it to grow exponentially. The platform gained massive popularity with notable brands, influencers, and their onward consumer followers.

But how can this social media platform serve a serious business-to-business audience?

It comes down to defining your purpose and strategic objectives – what do you want your organisation to achieve on the platform? Who do you want to reach, and how do you want to engage with them? What key messages/themes will drive your TikTok conversations? How will you manage content development, and is your content relevant, relatable, and engaging for the target audience?

If you answered “no” for any of the above, you might need to revisit your approach before joining TikTok. With content having the potential to go viral instantly, it is easy for any account owner to start impulsively posting on the app to stay relevant. Unplanned content is a gateway to damaging your reputation with severe consequences.

Partnering with established TikTok influencers could help position your organisation and brand narrative. Be sure that they are aligned with your values and that they understand your business. Research previous campaigns and ask for referrals for the influencer. If there are any proverbial red flags or participation in a “cancel culture” initiative, steer clear.

To make the sound and considered decision that will be what’s best for your brand, it is crucial to know your audience and be able to create content that will serve your audience and place their needs in the centre of your business. Concerns aside, all new ventures are worth a try and worth a considered risk. The good thing is that TikTok is a free app, and the account can be deleted when you feel it does not align with your brand’s voice. The decision is not a permanent choice.

Why are companies leveraging TikTok?

  • To create entertaining content while informing the public of their brand.
  • To create partnerships with influential creators.
  • To run advertisements.
  • To launch hashtag challenges to boost engagement with their audience.

Consideration 3: Good for business, good for brand

In addition to gaining access to an audience of 1 billion active monthly users worldwide as a marketing channel, TikTok presents organisations with an opportunity to reposition their brands strategically and creatively.

The platform has seen an increase in a new generation of influencers on the application – from healthcare professionals sharing advice to real estate companies sharing property listings. How content is being shared and engaged with shows that the platform is evolving, and according to statistics, 42% of users on TikTok are 30 to 49 years old. It indicates that the platform’s demographic is much more diverse than assumed.

With all the different demographics on the platform, your organisation should target the correct audience for your brand. TikTok follows insights from data through the “For You Page” algorithm. The algorithm suggests videos to your audience that they interact with, accounts they follow, hashtags they use, their location and language preferences. Organisations can use these factors as a starting point to find an audience that aligns with their organisation to grow their brand.

People may forget, but the internet never forgets

With new technology fuelling growth in digital platforms, it is vital to establish a future-focused holistic view of how you would like to position your organisation online. It includes careful planning and understanding the opportunities and risks involved.

Embrace new skills and invite new people into your team

Your business purpose must take centre stage in all engagement activities. Your brand might now require developing a new digital engagement strategy that it did not need before. A digital policy framework must now guide your business through these unchartered digital waters and unpack how your organisation manages and engages online. These might be new skills that you have never required before, and either externally or internally, you will have to strengthen your team to unleash the benefit that TikTok can hold for your business!

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://www.bizcommunity.com/Article/196/669/236353.html

Everything you need to know about phishing

Last year, 94% of South African businesses were the target of email phishing attempts. These attacks are becoming increasingly sophisticated, with cybercriminals using demographic data to create more realistic and accurate scams. You could, for example, receive a scam email from your child’s school, SARS, and even your bank that looks convincing enough to fool you.

To help you protect yourself and your business, we’ve put together a guide outlining everything you need to know about phishing, from identifying a phishing attempt to what you need to do if you or an employee has been exposed through a phishing attack.

What is phishing?

Phishing is a form of cyberattack that acts like a wolf in sheep’s clothing. Victims are sent a communication from what they think is a trusted source, like an email from their bank, that is actually a clever fake designed to steal sensitive information such as passwords, credit card numbers, pin codes or other personal information. These types of attacks usually come in the form of emails or social media messages that lead to fake websites. A phishing scam is not a data breach. Phishing attacks are most commonly perpetrated by cybercriminals out for financial gain.

Types of phishing attacks include:

  • Email phishing: an email posing as a legitimate entity 
  • Spear phishing: a customised, researched attack that targets specific groups of individuals or businesses 
  • Whaling: targeting executives within an organisation (the big fish)
  • SMS phishing (Smishing): scam attempt sent via a text message
  • Voice phishing (Vishing): voice calls or recorded messages
  • Website phishing: a fake website that looks just like a legitimate one

The goal of phishing is to collect sensitive information. Data stolen through a phishing attack can be used for a number of malicious purposes including identity theft, fraud, ransom, unauthorised financial transactions, sale on the dark web, and even espionage.

How to identify a phishing email?

A phishing email will look like it is from a trusted source, and contain an instruction for you to provide certain sensitive information or click on a link or attachment. Caution and vigilance are key to prevent falling victim to a phishing attack. Always be wary of emails or messages that ask for personal information or urgent requests. 

Giveaways of a potential phishing attack include:

  • Spelling mistakes or bad grammar
  • An unfamiliar or strange sender email address
  • A strange url
  • A sense of urgency

Below is an example of what a phishing email could look like, and what to look out for:

phishing scam


Here is another example of a phishing email disguised as an urgent letter of demand.

Source: SARS

How to protect against phishing attacks in your business

As a business owner, you don’t have eyes on every single email that passes through your server, but there are steps you can take to prevent anyone in your business from being caught in a phishing net.

  • Educate your team on how to identify a phishing email
  • Implement multi-factor authentication for all accounts and systems that store sensitive information
  • Put email spam filters in place to stop phishing emails before they enter your inbox

Speak to your hosting provider about what security measures are already in place – xneelo offers spam filtering on all email addresses associated with your web hosting account, for example. We also recommend using our Cloudbric add-on that detects and blocks malicious traffic to your website. While Cloudbric doesn’t offer direct protection against phishing, it does prevent hackers from intercepting sensitive information or looking for vulnerabilities that could be exploited for phishing attacks. 

A trend that’s becoming increasingly popular among businesses is to implement a Zero Trust policy, that requires verification and authentication for all devices and networks to reduce the risk of external and internal threats. This strict access control process protects sensitive information and makes it easier to respond when they occur.

What to do if you have been affected by phishing

If you have fallen victim to a phishing attack, here are some immediate steps you should take:

  • Change any passwords that were affected.
  • Report the attack to the legitimate business the email pretended to be from and ask them to take action on their side.
  • If your credit card details were compromised, cancel them immediately and call your bank’s fraud support line.
  • Immediately enable two-factor authentication for any accounts that support it as an extra layer of security.
  • Contact the authorities. Cybercrime.org.za is South Africa’s national fraud and internet crime reporting centre.
  • Review your credit card and bank account statements to check for suspicious or unauthorised charges.

By taking these steps, you can help to minimise the damage caused by a phishing attack and protect your personal and financial information.

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://xneelo.co.za/insights/everything-you-need-to-know-about-phishing/

17 Hot Trending Products to Sell Online in South Africa 2023

Online shopping is rapidly growing, with a massive increase in the number of online shoppers worldwide. In 2023, online shopping is expected to become even more popular, with a growing number of consumers seeking out the latest and greatest products to buy. As a result, the competition for the top spots on search engine results pages (SERPs) will be intense. To help you stay ahead of the curve, we’ve compiled a list of 30 hot trending products to sell online in 2023.

1. Smartwatches

Smartwatches are one of the hottest products of 2023, with a growing number of consumers seeking out the latest technology to stay connected on the go. These devices allow users to keep track of their fitness goals, receive notifications, and even make phone calls. With a growing number of manufacturers entering the market, it is becoming increasingly important to choose a smartwatch that meets your needs.

2. Fitness trackers

Fitness trackers are another popular product in 2023, with many consumers looking to track their daily activity levels, including steps taken, calories burned, and heart rate. These devices are often worn on the wrist, making it easy to track progress throughout the day. Whether you’re looking to lose weight, build muscle, or simply maintain a healthy lifestyle, a fitness tracker can help.

3. Wireless earbuds

Wireless earbuds are becoming increasingly popular among consumers, offering a convenient and discreet way to listen to music, make phone calls, and more. With a growing number of options available on the market, it is important to choose earbuds that offer the best sound quality, comfort, and battery life.

4. Smart home devices

Smart home devices are one of the fastest-growing product categories, with a growing number of consumers seeking to control their homes from their smartphones. From smart lights and locks to thermostats and security systems, there are many products to choose from to make your home more connected and secure.

5. Electric scooters

Electric scooters are becoming increasingly popular as a way to get around town, offering a convenient and eco-friendly alternative to cars. With a growing number of options available, it is important to choose an electric scooter that meets your needs and budget.

6. Electric Bikes

Electric bikes are becoming increasingly popular as a way to reduce carbon emissions and improve health. They’re also a great alternative for those who are looking for a more efficient way to commute to work or run errands. With the rise of eco-consciousness and concerns about sustainability, we can expect to see a continued increase in demand for electric bikes in 2023.

7. Drones

Drones are one of the hottest products of 2023, with a growing number of consumers seeking out the latest technology for capturing aerial footage. From beginner drones to professional-grade models, there is a drone for every skill level and budget.

8. Streaming devices

Streaming devices are one of the hottest products of 2023, with a growing number of consumers seeking out the latest technology for streaming content to their televisions. Whether you’re looking for a device for streaming video, music, or both, there are many options available on the market.

9. Smart speakers

Smart speakers are becoming increasingly popular among consumers, offering an easy way to control your smart home devices, play music, and more. With a growing number of options available, it is important to choose a smart speaker that meets your needs and budget.

10. Eco-Friendly Home Goods

Consumers are becoming more environmentally conscious and are looking for ways to reduce their carbon footprint. This has led to a growing demand for eco-friendly home goods, such as reusable water bottles, cloth grocery bags, and energy-efficient appliances. In 2023, we can expect to see even more products that cater to this trend.

11. Health and Wellness Products

As people become more aware of the importance of taking care of their physical and mental health, the demand for health and wellness products continues to rise. Products such as fitness trackers, yoga mats, and essential oils are all expected to be popular in 2023.

12. Artificial Intelligence Products

Artificial intelligence products, such as AI-powered personal assistants and smart home devices, are becoming increasingly sophisticated and widely used. In 2023, we can expect to see continued growth in this area, with new products being released that offer even more advanced AI capabilities.

13. Virtual and Augmented Reality Products

Virtual and augmented reality products are becoming more widely used in both entertainment and education. In 2023, we can expect to see a growing demand for products that allow consumers to experience immersive and interactive environments in new and innovative ways

14. Pet Supplies

Pet supplies, such as pet grooming products, toys, and food, are expected to be in high demand in 2023 as people continue to adopt and take care of pets.

15. Home Office Supplies

With more people working from home, home office supplies such as ergonomic chairs, desks, and monitor stands, are expected to be in high demand in 2023.

16. Board Games

Board games are making a comeback as people look for ways to spend quality time with their friends and family. From classic games like Monopoly to new and innovative games, there is a board game for every taste.

17. Kitchen Gadgets

Kitchen gadgets, such as air fryers, sous vide machines, and smart ovens, are becoming increasingly popular as people look for ways to cook healthy and delicious meals.

Wrapping Up:

We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, over 1,000,000 SKU and more. With a successful track record of over 100,000 clients, we are sure to deliver your orders requirements.

Let’s get in touch to build, sustain, and grow your businesses! If you would like to know more details about us, please contact us:  blog.shopshipshake.com. If you are interested in cooperating with us. Please register on: https://bit.ly/3Cfdu4w

This article partly refers to: https://www.insaka.co.za/blog/Hot-Trending-Products-to-Sell-Online-in-2023