Besides attracting clients to your online store, an important part of its success depends on how you
manage your overheads. If you do not limit those, you might not be able to pay
the bills, Moreover, the less expenses you have, the more you will be able to
capitalise on return on investment, which means a greater profit. A series of
articles will explore how you can do so.
Keeping track
It is crucial to keep track of all your expenses. A mistake that e-commerce merchants often make is that
they do not consider certain operational costs, especially those which seem
cheap. For instance, you might not think that it is important to consider
things such as packaging or you might forget to record how much electricity you
use in your home office. However, you will not be aware of the significance of
these costs unless you keep track of them for several months or years. That is
why it is important to note everything down.
Various methods allow you to keep track of your overheads. A popular option is to use a business management software. However, spreadsheets, pen and paper and even mobile apps will work just fine. An accountant can advise you on the type of programs that you can use to make filing easier.
Manage your expenses by writing everything down ©
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