Reviewing your Ecommerce Business at Year End
Many ecommerce businesses owners will soon perform a year-end count of their product inventory. For many merchants, this process will determine cost of goods sold — and profit — for the year.
Beyond your products, however, I recommend you critique your entire business. As you close your books and review your financial performance, analyze other goals you set for the year — for all aspects of your business.
This is how top-performing businesses achieve continuous improvement. Your goal should be to understand where your business stands relative to its past history and the goals you set for the current year.
Here are some tips on your year-end business review.
Business Review: Getting Started
Start by collecting data from each of your functional areas. Combine that with assessments from all the aspects of your business to gain a total view of how your business model is performing. By taking a holistic view, you can determine what worked and what did not. You will then have a solid basis to start your strategic planning for the next year. – href="http://www.practicalecommerce.com/articles/3854-Reviewing-your-Ecommerce-Business-at-Year-End">Reviewing your Ecommerce Business at Year End by Dale Traxler
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