Worldwide Mindset Helps Fuel Wealth

While the exact definition of wealth will be slightly different from person to person, it can be boiled down to a single concept: freedom. Whether business owners are in search of financial freedom, work freedom or even the freedom to do what they want with their time, true wealth can have a powerful influence on the freedom that any given individual will experience in his or her day-to-day life.

Many entrepreneurs and business owners share this common goal of freedom through wealth. In this goal, ambition is not contained by the normal borders that separate states and countries. Online businesses often start out by only providing products to the country in which they are based, but worldwide expansion is usually the logical next step.

According to predictions, a whopping 1.8 billion consumers are expected to shell out $30 trillion by the year 2025. Confining a business market to a single country is not only ignoring an enormous portion of the world population but is also ignoring one of the best opportunities to expand business and increase wealth.

Not ready to expand yet? That is fine, but moving your business from a national to international scale takes time and planning, so go ahead and consider the following:

  • What countries have the best market for your product?
  • Are there any tax implications involved?
  • How will shipping costs be affected?
  • Will there be any potential issues with customs?
  • Is setting up an international division and distributor a good idea?

Expanding worldwide does not happen overnight. All good wealth plans include both short and long-term goals, so take advantage of time and begin drafting the plan to get your product into the hands of the international community.

Step up Your Mobile Sales in 3 Steps

Still think your mobile website is not that important? At least 90 percent of consumers use smartphones to make online purchases! In spite of this high percentage, over half of consumers who initiate a transaction on their smartphones ultimately abandon their initial purchase attempts. Most smaller businesses and startups do not have dedicated apps that can be downloaded onto smartphones, which makes the mobile website all the more important. Follow these three steps to improve your mobile sales and overall consumer shopping experience.

Hire a professional. In the early days of any business, most entrepreneurs become a jack of all trades and take on the work of several different positions. When it comes to websites, especially mobile versions, the DIY approach is usually not the best. Unless you have a background in digital arts or web design, this is one job best left to a professional.

Streamline the checkout process. This applies to both the computer and mobile version, but is especially important for consumers who are shopping from their phones. With an “abandoned cart” rate of about 56 percent, removing all obstacles to finalizing the order is necessary to cut down those numbers.

Ask for feedback. After the new mobile site has been up for a few weeks, utilize that email list and get some customer feedback. Not everyone will feel up to the task, but offering nominal rewards such as a certain percentage off future purchases is usually sufficient to get a good understanding of the user experience.

Consumers do not just shop from their computer desk at home anymore. With a smartphone, that perfect product is only a few fingertips away no matter where they are, and a transaction is just as likely to take place at a coffee shop or on the bus as it is from a home computer.