First of all, congratulations!
Growing an eCommerce business to 6 figures or more cannot have been that much of an easy task.
And, yes, we are aware some people may still call it “luck”.
But we know that’s not the case.
Luck brings 4 or 5 digits a year.
Entrepreneurship, focus and determination brings you to 6 or 7 figures a year.
Now that 6 figures is a done deal, it’s time to think about a few more zero’s and growing to 10 million a year (or more).
Scaling to 8 figures is usually a struggle many eCommerce business owners face because, even though it may look just like it’s “right around the corner”, the numbers just don’t seem to collaborate.
With that in mind, let us share with you how to grow to 8 figures a year.
How to grow to 8 figures a year
There’s no cutting corners to grow to 8 figures a year – which we’re sure you already know.
This also means that what works for some businesses may not work for yours.
So you need to be careful about the strategies you put in place and think about whether they’re appropriate for your eCommerce business or not.
The following tips are based on our experience of growing, selling and buying multiple businesses, of multiple different areas.
So we’re certain they will work for you. Especially with the right team by your side.
Don’t forget the details
It’s fun how many people tend to focus on details and forget about them along the way…
By “details” we mean mostly customer experience.
When creating your eCommerce business, you thought it all through:
- How the user would pick the product
- Where he/she would click to buy
- How the buying process would work
- What emails and notifications he/she would get after the purchase
- How you would address the new client after their product was delivered
5 little details that will mean a great deal when considering growing to 8 figures a year.
You see, the more the business grows, the more attentive to customer service you need to be.
In making sure web chat works and is available for clients in their timezone working hours.
In having outstanding customer experience after the purchase.
And in never forgetting email or taking it lightly.
Your customer list – the one you have right now – will get you to 8 figures a year.
If you never forget about the details.
Quick tips from AEPIC Partners:
- Have a look at your customer lists. Who has more than 1 purchase? Who hasn’t?
- How many customers have not purchased for the past 3-6 months?
Take that list and contact them.
Email them, message them, choose the best approach.
But get in touch.
Try and find out why they haven’t been in touch.
Offer them a discount so they can come back and make sure you don’t forget about them again.
Details matter.
Your business is like a cactus
A cactus can only grow as much as the space it’s in.
If a vase is small, the cactus is small.
The bigger the vase is, the bigger the cactus gets.
Your eCommerce business (or any business, for that matter) works the same.
You can’t grow to 8 figures a year if you don’t have a team that’s ready to manage 8 figures a year.
Your business will grow as much as your team grows too.
Yes, even if you automate most of the business.
Don’t be afraid to hire a couple more people to work. It’s an investment you must be willing to make.
And it will pay off.
Quick tip from AEPIC Partners:
- When hiring someone, hire them for their passion and not so much for their skills. Skills can be developed and learnt, but passion for a project doesn’t come that often. Follow your instincts, they brought you here already.
Cash-flow
The elephant in the room: money.
Of course you need money and investment to grow to 8 figures a year.
There’s no doing the omelet without breaking the eggs.
More money will mean more inventory, more marketing and a safer bank account with steady cash-flow to meet all the deadlines.
Investment can come from two sources:
- Your pocket
- Investors
At this point in time, investing from your pocket is probably not what will bring your eCommerce business to 8 figures a year.
Otherwise, you’d be booming already.
And investors often like to take a part of the deal, meaning less equity for you.
But there’s a third, new way to bring investment to your eCommerce business.
And it’s called AEPIC Growth.
The AEPIC Growth is a new service that can help you grow to 8 figures a year by providing you with the capital your eCommerce business needs in your eCommerce business without taking equity.
AEPIC Growth is a results of a close collaboration between AEPIC Partners and 8fig.
Here’s how it works:
- You answer a few questions to see if your business qualifies for AEPIC Growth and wait for an AEPIC Partner’s advisor to contact you;
- Already inside your account, you present your plan to grow to 8 figures with a minimum of your next 3 purchases and all related costs, logistics, warehousing, marketing and hit Submit;
- Your plan is studied, as well as your eCommerce past performance and its future sales (the latter will be a forecast);
- If your plan is solid and you meet the criteria, your eCommerce business will have access to funding.
8fig will provide you capital and AEPIC Partners will grant you exclusive bonuses with applying to AEPIC Growth. As an AEPIC client you will have a 10-15% discount on your cost of capital and that can run into 10s of thousands of USD/EURs per year.
You can see if your business qualifies for AEPIC Growth here.
It’s not a matter of how but when
When you first started to read this post, your question was “how to grow to 8 figures a year?”
By now, with 3 ways to reach 8 figures, your question is now “when to grow to 8 figures a year?”
We’ll put it in the simplest, possible way: not everyone gets to 8 figures a year.
Not everyone knows how and when.
But you do now.
Click to apply and see if your business qualifies for AEPIC Growth today and find our when you can grow to 8 figures a year.
