In the first half of 2021, the e-commerce industry hit $408.51 billion, which is up nearly 22% from the previous year. With so much room for growth and a promising future in a digital-first world, e-commerce continually attracts entrepreneurs and their business ideas. Before launching a new venture, however, it’s important to have the right strategy in place.
Below, nine members of Young Entrepreneur Council shared their recommended steps for entrepreneurs looking to scale an e-commerce business. Here’s how to ensure your online company thrives in the current marketplace.
1. Make Sure You Have Your Business Model Down
If you’re an entrepreneur looking to scale your business, you first need to make sure you’ve gotten your business model down. Sometimes it’s even helpful to try unscalable things to prove out the business concept. This takes a lot of time and effort. After you’re comfortable proving the business model out, you’ll