Jasmine's Place Issue No. 9 - January/February 2014 - Page 49

within 2 working days generally afford to buy. If you are not intending to hold stock, then you will pass the request to your supplier to drop ship the goods to your customer. Order more of the popular items, less of the unpopular items. Physically count your stock from time to time some people do a yearly stock check). It is boring and tedious but has to be done to account for deterioration, loss, theft and so on. Make sure you inform the customer when the goods are dispatched. Our WordPress e-shop has an automatic dispatch notification function. Investigate the most cost effective and reliable delivery service for your parcels. 9. Third Party Platforms In order to reach more customers when you are starting up, it’s not a bad thing to experiment with selling on Ebay, Amazon or Etsy. They all have pros and cons and you’ll soon see which platform is paying off for your type of product and price range. You’ll need to set up accounts on each site and follow their rules and payment mechanisms. Their fees also vary, so remember to check your statements at the end of the month to see whether selling on those platforms are profitable for you. 10. Stock Control As you sell stock, you’ll need to replenish. Keep an eye on stock levels. Your accounts software, if you have one, should be able to generate a stock take sheet and report stock levels by item or supplier. Re-order in regular intervals. Watch your cash flow levels to see how much you can Adjust your stock numbers on your website when new stock arrives or when stock is lost, damaged or no longer available (assuming the website adjusts stock when sales are made through it). I hope you find this guide useful. It’s in no way meant to be comprehensive and the companies or websites mentioned here are not recommendations but merely examples of what we have used. If you have any questions or wish to have more information, do contact us via http://www.littletrove.com/contactus/ Ramona Hirschi is the Managing Director of Little Trove, the UK’s premier fair trade party plan company. Little Trove was born and still operates on the internet at www.littletrove.com. She is an entrepreneur, former solicitor, wife, mum of 2, student mentor and ambitious multi-tasker. Copyright 2013. All rights reserved by the author. To read the full article, visit: http://goo.gl/rgimDK JASMINE'S PLACE 49