Online selling is a great way to start your business and gives access to a wide range of marketplaces. ICAEW BAS member Bev Goodall from AbacusBean gives us some top tips on how to succeed.
- Whether you’re using Amazon, eBay, Etsy or Shopify there is an much easy and less stressful way to track your business transactions – get a free 14-day trial of Link My Books to see how much time and effort you can save by automating your bookkeeping.
- Multiple country registrations? The right software can deal with this and ringfence each countries data for their own vat returns and isolate data from the UK vat return for overseas sales in other jurisdictions.
- Wanting to find what sells best? Try a Helium10 subscription. This seems to work wonders with the teams we work with, getting businesses to 7 figures within 12 months. It also helps with product ranking.
- Want to track where you get your best returns? Xero or Quickbooks can be set to pull the info across from Link my Books so you can see which country gives you the most sales, the best profit margins and where you should be concentrating your efforts.
- Want some more great tips and hits on how to get the best out of selling online – watch Project X on YouTube – they’ve done it all before and bought the t-shirt. They can show you how to go from start-up to sale and cut out the mistakes they made along the way.
- Find a friendly accountant like AbacusBean to hold your hand along the way – they can be a great resource and support to you as you grow.
- Find an ICAEW BAS member firm in your area for a free consultation