Ten billion dollars — that’s the estimated expected revenue for e-commerce in the Philippines by 2025. If you want a piece of that action, then putting up your own online store is what it takes.
Globe MyBusiness invited over a hundred top sellers from the Lazclub to eVolution, a whole-day workshop filled with talks and masterclasses designed to help sellers grow their business. From branding to finance, those invited had unprecedented access to experts in their field, from how to photograph products for social media to filling out your accounting books.
Online selling in the Philippines is rapidly growing, revolutionizing the retail sector. But there’s more to it than making a sale, as what Lazada’s top sellers and budding entrepreneurs have come to realize. The truth is, the best operations, finance, and marketing practices come heavily into play for sellers who really want to excel.
Take note of these tips:
Operate with Ease
Those who can’t do, teach — or so the saying goes, but in the case of Al Alpapara of Precious Herbal Solutions, a top seller at Lazada, she handles the operations of her company, and teaches other Lazada sellers the best operations practices that she follows. “Entering Lazada caused an uplift in sales and brand awareness,” Al revealed.
She also gave a few tips on operations management, which she learned from experience. “We have a team leader, and one person to focus on what to do at all times. There needs to be perfect, clear communication with your team.” She adds, “There should be professionalism in the office — even when they’re in the stock room or delivering, they’re in uniform. Always ask for feedback, reviews, and follows of your store, because those matter. And always join or get all the tools offered in Lazada, like vouchers [and] seller picks.”
Represent Your Brand in Social Media
With the ubiquity of smartphones, it seems everyone now has their own technique of taking photos of their food, their vacations, and their favorite people. But as Keith Dador, Professional Photographer at Catnip Studios, said, not all phones are created equal. “You’re limited by the size of the screen, the megapixels — what’s important for me is I can shoot in low light. You have to remember that your photos will represent your product. You need to find the angles, backgrounds, and mixing and matching of the products to make it more appealing. You can do something really simple, as long as it would work well for you.”
Stay Financially Sound
Mr. Willy Arcilla, the Brand Doctor, said during the event that the “purpose of a business is to create a customer.” And if you take that a step further, a customer is one who gives you money in exchange for goods or services, which is the whole point of putting up a business — to make money.
While some sellers are content with simply peddling products at a marked-up price or breaking even, there’s more to having a successful business than just earning money. In order to be financially sound, Sonny Del Rosario, President and Training Director of LifeQuest Training and Consultancy Corporation, taught sellers the basics of bookkeeping.
While he suggests having an accountant for your business, he adds that owners must keep their own records as well, just so you’re always aware about how your business is doing. “You need to have reasonably accurate financial records,” Sonny says. “Keep track of transactions, cash flows, and assets. If you have good financial records, you develop good management habits. Your own records serve as a framework to examine the affairs of your business through a financial lens.”
He says that while it’s up to the seller on how often financial records must be updated, it’s important to have a monthly report every month’s end. He suggests computerizing your bookkeeping system, and Globe MyBusiness has the business solutions for you to accomplish that. With myShopKeeper, you can track your store’s performance in real time, by viewing your sales summary as it happens, and updating your data as it comes in, with a historical view of all your past transactions at your fingertips. It also digitizes your inventory system with its built-in calculator and discount function, making inventory as easy as it can be.
Be Open to an Upgrade
Entrepreneurs are always looking for ways to get things done more efficiently, and that is the core of Globe MyBusiness — to help small and medium enterprises, or SMEs, to flourish. Mary Gaile Guevarra, Head of Marketing Services of Globe MyBusiness, says that SMEs are indeed the “backbone of the Philippine economy.” She shares, “We are here to help SMEs like you in growing your business.”
For more information about Globe MyBusiness’ products and services, visit our website for more details.
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