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	<title>start a business Archives - Cross-Border Magazine</title>
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		<title>7 Basic Steps to Start a Successful E-commerce Business</title>
		<link>https://cross-border-magazine.com/cn/start-a-successful-ecommerce-7-steps/</link>
		
		<dc:creator><![CDATA[Frank Calviño]]></dc:creator>
		<pubDate>Fri, 27 Jan 2023 19:10:03 +0000</pubDate>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[Entrepreneur]]></category>
		<category><![CDATA[online shopping]]></category>
		<category><![CDATA[start a business]]></category>
		<guid isPermaLink="false">https://cross-border-magazine.com/cn/?p=9474</guid>

					<description><![CDATA[<p>Starting an e-commerce business can be a daunting task, but with the right plan in place, it can be a rewarding and profitable endeavor. Today we want to provide all...</p>
<p>The post <a href="https://cross-border-magazine.com/cn/start-a-successful-ecommerce-7-steps/">7 Basic Steps to Start a Successful E-commerce Business</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce.png"><img fetchpriority="high" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-1024x576.png" alt="start a successful e-commerce" class="wp-image-9475" srcset="https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startanecommerce.png 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="wp-block-paragraph">Starting an e-commerce business can be a daunting task, but with the right plan in place, it can be a rewarding and profitable endeavor. Today we want to provide all starting entrepreneurs with seven steps to start a successful e-commerce business!&nbsp;</p>



<p class="has-text-align-center has-light-green-cyan-background-color has-background wp-block-paragraph">🔥<a href="https://cross-border-magazine.com/cn/order-your-free-copy-magazine/" target="_blank" rel="noreferrer noopener">Do you want to know more about international commerce and e-commerce and get all the tips and news that might give your company an edge?&nbsp;<strong>Subscribe to Cross-Border Magazine and get your digital copy now for free!</strong></a>🔥</p>



<h2 class="wp-block-heading">1. Define your target market&nbsp;</h2>



<p class="wp-block-paragraph">Before you can start selling anything, you need to know who your target market is. This means identifying the demographics of your ideal customer, including their age, gender, income, and location. You should also consider what they want in a product or service and how your business can meet those needs.</p>



<p class="wp-block-paragraph">Keep in mind that a target market is a specific group of consumers to that a business or organization aims to sell its products or services.&nbsp;</p>



<p class="wp-block-paragraph">To define a target market, you should consider the following factors:</p>



<ol class="wp-block-list"><li><strong>Demographics:</strong> Look at factors such as age, gender, income, education, and occupation to identify your potential customers.</li></ol>



<ol class="wp-block-list" start="2"><li><strong>Behavioral characteristics: </strong>Consider purchasing patterns, brand loyalty, and the benefits customers look for in a product or service.</li></ol>



<ol class="wp-block-list" start="3"><li><strong>Psychographics:</strong> Analyze customers' lifestyles, values, and personality traits to understand their motivations and interests.</li></ol>



<ol class="wp-block-list" start="4"><li><strong>Geographic location:</strong> Identify where your customers are and how this might impact their purchasing decisions.</li></ol>



<ol class="wp-block-list" start="5"><li><strong>Market Segments: </strong>Break down the market into smaller segments that have similar characteristics and needs, and then select the segment that is most likely to purchase your product or service.</li></ol>



<p class="wp-block-paragraph">💡 It is important to note that the target market can be defined based on any of the above factors or in a combination of them.</p>



<h2 class="wp-block-heading">2. Conduct market research&nbsp;</h2>



<p class="wp-block-paragraph">Once you have identified your target market, you need to research to determine the size of the market and the level of competition. This will help you to understand the potential demand for your products or services and identify any gaps in the market that you can fill.</p>



<p class="wp-block-paragraph">Obviously, if you are an entrepreneur just starting, market research can be - and will be - a daunting task. To tackle it cheaply and effectively, you could consider the following:&nbsp;</p>



<ul class="wp-block-list"><li><strong>Online surveys:</strong> Use online survey tools such as SurveyMonkey or Google Forms to gather data from a large number of people at a low cost.</li></ul>



<ul class="wp-block-list"><li><strong>Social media:</strong> Utilize social media platforms to gather information about your target market. You can use tools like Hootsuite Insights to track mentions of your brand, competitors, and industry keywords.</li></ul>



<ul class="wp-block-list"><li><strong>Google Analytics:</strong> Utilize the free version of Google Analytics to track website traffic and gather data on the behavior of website visitors.</li></ul>



<ul class="wp-block-list"><li><strong>Online forums and discussion boards:</strong> Utilize online forums and discussion boards such as Reddit or Quora to gather information about your target market and their needs and preferences.</li></ul>



<ul class="wp-block-list"><li><strong>Phone interviews:</strong> Conducting phone interviews is an effective way to gather qualitative data and can be done inexpensively using a service like Zoom or Google Meet.</li></ul>



<ul class="wp-block-list"><li><strong>Email campaigns:</strong> Use email campaigns to gather data from many people at a low cost.</li></ul>



<ul class="wp-block-list"><li><strong>Secondary research:</strong> Utilize existing data and research, such as government statistics, industry reports, and academic studies, to gather information about your target market at little or no cost.</li></ul>



<p class="wp-block-paragraph">💡 It is important to note that while these methods may be inexpensive, it may also come with a trade-off in the quality of data collected. It's also important to keep in mind that a combination of different methods would give a more holistic understanding of the market.</p>



<h2 class="wp-block-heading">3. Develop a business plan&nbsp;</h2>



<p class="wp-block-paragraph">A business plan is fundamental to start a successful e-commerce. Now, a business plan is nothing more than a document that outlines your business goals, strategies, and tactics. It should also include financial projections, such as projected revenue and expenses. A well-written business plan will help you to secure funding and attract investors.</p>



<p class="wp-block-paragraph">A business plan is a detailed document that outlines the goals, strategies, and operational plans for a business. To develop a business plan, you should follow these steps:</p>



<ul class="wp-block-list"><li><strong>Research: </strong>Conduct market research to gather information about your industry, competitors, and target market. Use this information to identify opportunities and challenges for your business.</li></ul>



<ul class="wp-block-list"><li><strong>Define your objectives:</strong> Clearly state your business goals and objectives, such as increasing revenue, expanding to new markets, or launching new products.</li></ul>



<ul class="wp-block-list"><li><strong>Identify your target market:</strong> Define your target market based on factors such as demographics, psychographics, and purchasing behavior.</li></ul>



<ul class="wp-block-list"><li><strong>Develop a marketing strategy:</strong> Outline the strategies you will use to reach and engage with your target markets, such as advertising, promotions, and public relations.</li></ul>



<ul class="wp-block-list"><li><strong>Outline your operational plan:</strong> Identify the resources, such as equipment, personnel, and facilities, that you will need to run your business. Develop a plan for how you will acquire and manage these resources.</li></ul>



<ul class="wp-block-list"><li><strong>Create a financial plan: </strong>Develop financial projections for the next three to five years, including income statements, cash flow projections, and balance sheets.</li></ul>



<ul class="wp-block-list"><li><strong>Include an executive summary:</strong> Provide a brief overview of your business plan, including your mission, goals, and key strategies.</li></ul>



<ul class="wp-block-list"><li><strong>Review and refine:</strong> Review your plan and refine it as needed. Share it with others, such as industry experts, mentors, or potential investors, to get feedback and make revisions.</li></ul>



<p class="wp-block-paragraph">💡 It is important to note that a business plan should be updated regularly to reflect the current state of the business and the market environment. The plan should be a living document used as a guide and reference for the business.</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce.png"><img decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-1024x576.png" alt="" class="wp-image-9476" srcset="https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2023/01/startecommerce.png 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">4. Choose a product or service&nbsp;</h2>



<p class="wp-block-paragraph">One of the most important decisions you will make when starting an e-commerce business is what to sell. You should choose a product or service that you are passionate about and aligns with your target market. Consider the cost of the product or service, as well as the demand for it in the market.</p>



<p class="wp-block-paragraph">Also, when deciding about the product or service, you should keep in mind that there are several types of products that are relatively inexpensive to transport and well-suited for e-commerce:</p>



<ul class="wp-block-list"><li><strong>Digital products: </strong>Products such as e-books, software, music, and video downloads are easy and inexpensive to transport as they are delivered digitally.</li></ul>



<ul class="wp-block-list"><li><strong>Small, lightweight items: </strong>Products such as jewelry, clothing accessories, and small home decor items are easy and inexpensive to transport as they take up little space and are lightweight.</li></ul>



<ul class="wp-block-list"><li><strong>Dropshipped products: </strong>Products that are dropshipped directly from the manufacturer or supplier to the customer are relatively inexpensive to transport as the supplier handles the shipping and handling.</li></ul>



<ul class="wp-block-list"><li><strong>Print-on-demand products: </strong>Products like t-shirts, mugs, and phone cases can be printed on demand and shipped directly to the customer. This approach allows for reduced inventory cost and the capability to test the market before producing a large quantity.</li></ul>



<ul class="wp-block-list"><li><strong>Subscription-based products: </strong>Products such as monthly subscription boxes, meal delivery kits, and online memberships can be shipped regularly, making them well-suited for e-commerce.</li></ul>



<p class="wp-block-paragraph">💡 It is important to note that the cost of shipping and handling can still be a significant factor for e-commerce businesses, so it's essential to factor in shipping costs and consider offering free or discounted shipping options to customers. When choosing products, it's also important to consider other factors like demand, competition, and the potential profit margin.</p>



<h2 class="wp-block-heading">5. Build an e-commerce website&nbsp;</h2>



<p class="wp-block-paragraph">Your website is the backbone of your e-commerce business. It should be user-friendly, easy to navigate, and visually appealing. You should also make sure that your website is optimized for search engines and is mobile-responsive.&nbsp;</p>



<p class="wp-block-paragraph">One key thing to keep in mind while building e-commerce is how vital customer care is nowadays, especially for online brands and businesses. Having efficient and customer-satisfaction-driven customer care is fundamental to acquiring and retaining customers.&nbsp;</p>



<p class="wp-block-paragraph">For more on this vital point, we will like to invite you to read our partner Salesupply guide on customer care here:&nbsp;</p>



<p class="has-light-green-cyan-background-color has-background wp-block-paragraph">🔥<strong><a href="https://cross-border-magazine.com/cn/e-commerce-customer-care-playbook-are-you-ready-for-tomorrows-customers/" target="_blank" rel="noreferrer noopener">E-commerce Customer Care Playbook: Are you ready for tomorrow’s customers?</a></strong>🔥</p>



<h2 class="wp-block-heading">6. Establish a payment system&nbsp;</h2>



<p class="wp-block-paragraph">To sell products or services online, you need to establish a payment system. You can use a third-party payment processor, such as PayPal or Stripe, or set up a merchant account with a bank. You will also need to comply with laws and regulations regarding online payments and data security.</p>



<h2 class="wp-block-heading">7. Market your business&nbsp;</h2>



<p class="wp-block-paragraph">Once your website is up and running, you must market your business to attract customers. This can include paid advertising, social media marketing, email marketing, and content marketing. You should also focus on building relationships with your customers and creating a community around your brand.</p>



<p class="wp-block-paragraph">By following these seven steps, entrepreneurs can start a successful e-commerce business. However, it's important to remember that starting a business takes hard work, dedication, and perseverance. It's also important to be flexible and adaptable as the e-commerce market constantly evolves.</p>



<p class="wp-block-paragraph">Now, to tackle the issue of how to market your e-commerce business, we would need an entire book - or several - but for the purposes of keeping this guide functional and efficient at a basic level - for starting entrepreneurs - suffice to say that you need to review and decide to further experiment with one or more of the following e-commerce marketing techniques:&nbsp;</p>



<ul class="wp-block-list"><li><strong>Search engine optimization (SEO):</strong> Optimize your website and product pages for search engines so that they appear higher in search engine results, making it easier for customers to find your products.</li></ul>



<ul class="wp-block-list"><li><strong>Pay-per-click advertising (PPC):</strong> Use paid advertising platforms like Google AdWords or Bing Ads to run ads that appear at the top of search engine results, increasing visibility and driving traffic to your website.</li></ul>



<ul class="wp-block-list"><li><strong>Social media marketing:</strong> Use social media platforms like Facebook, Instagram, and Twitter to reach potential customers and engage with them through content marketing, influencer marketing, and paid advertising.</li></ul>



<ul class="wp-block-list"><li><strong>Email marketing:</strong> Use email marketing campaigns to reach customers with personalized promotions and updates on new products.</li></ul>



<ul class="wp-block-list"><li><strong>Affiliate marketing: </strong>Partner with other websites or influencers to promote your products and drive traffic to your website.</li></ul>



<ul class="wp-block-list"><li><strong>Content marketing:</strong> Create and share valuable content, such as blog posts, videos, and infographics, to attract and engage customers and build trust.</li></ul>



<ul class="wp-block-list"><li><strong>Retargeting: </strong>Use retargeting ads to target customers who have visited your website but haven't made a purchase.</li></ul>



<ul class="wp-block-list"><li><strong>Referral marketing:</strong> Encourage customers to refer friends and family to your website through referral programs and incentives.</li></ul>



<ul class="wp-block-list"><li><strong>Influencer marketing: </strong>Partner with social media influencers to promote your products to their followers</li></ul>



<p class="wp-block-paragraph">💡 It's important to note that the most effective marketing strategy will depend on your target market and the products or services you offer. A combination of different marketing strategies is usually the most effective, and it's important to continually test and optimize your marketing efforts to maximize ROI.</p>



<p class="wp-block-paragraph">All in all, these are the core steps you must take - no matter the kind of business - if you want to start selling online. So keep them at hand, and if you are an entrepreneur: <strong>be brave, be smart and be patient!</strong></p>



<p class="wp-block-paragraph"></p>



<p class="wp-block-paragraph"></p>
<p>The post <a href="https://cross-border-magazine.com/cn/start-a-successful-ecommerce-7-steps/">7 Basic Steps to Start a Successful E-commerce Business</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
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			</item>
		<item>
		<title>What is Business Analytics? 7 steps to make the right call!</title>
		<link>https://cross-border-magazine.com/cn/what-is-business-analytics/</link>
		
		<dc:creator><![CDATA[Frank Calviño]]></dc:creator>
		<pubDate>Wed, 07 Dec 2022 11:22:56 +0000</pubDate>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[Business Analytics]]></category>
		<category><![CDATA[cross-border]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[research]]></category>
		<category><![CDATA[start a business]]></category>
		<category><![CDATA[strategy]]></category>
		<guid isPermaLink="false">https://cross-border-magazine.com/cn/?p=9251</guid>

					<description><![CDATA[<p>By Sandra Galiano - Business Analytics is fast becoming a fundamental tool for any entrepreneur wishing to be successful. This is because nowadays, we generate data practically every moment in...</p>
<p>The post <a href="https://cross-border-magazine.com/cn/what-is-business-analytics/">What is Business Analytics? 7 steps to make the right call!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics.jpg"><img decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-1024x576.jpg" alt="" class="wp-image-9252" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessanalytics.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="wp-block-paragraph"><strong>By Sandra Galiano</strong> - Business Analytics is fast becoming a fundamental tool for any entrepreneur wishing to be successful. This is because nowadays, we generate data practically every moment in every single second of every day without even noticing. </p>



<p class="wp-block-paragraph">“<strong>There were 5 Exabytes of information created between the dawn of civilization through 2003 (...),</strong> <strong>but that much information is now created every two days, and the pace is increasing.”</strong> - Eric Schmidt, CEO at Google.&nbsp;</p>



<p class="wp-block-paragraph">Taking into account the relevance of social media and our significant ‘daily life usage’ contribution to these technologies, we have - as a direct result - a hyperconnected world in which information appears to be power, now more than ever.&nbsp;</p>



<p class="wp-block-paragraph"><strong>“Data analytics is the future, and the future is NOW! Every mouse click, keyboard button press, swipe or tap is used to shape business decisions. Everything is about data these days. Data is information, and information is power.”</strong>- Radi, Data Analyst at CENTOGENE.</p>



<p class="wp-block-paragraph">In this world - thanks to current technologies - we can have a totally different lifestyle from the one our parents or even older siblings experienced.&nbsp;</p>



<p class="wp-block-paragraph">Our communication, buying, selling, investing, planning trips, and even entrepreneurship undertaking - among many other facets of human activity - had changed due to the profound implications of the current data technologies.&nbsp;</p>



<p class="wp-block-paragraph">So, it is only logical to imagine that, for specific jobs, the result will be to outgrow, transform, or even die. One of the areas impacted in this fashion is the one we aim to focus on in this article: Business Analyst.&nbsp;</p>



<h2 class="wp-block-heading">What is Business Analytics?</h2>



<p class="wp-block-paragraph">Business Analytics is the discipline focused on analyzing data with the objective of providing the company with favorable results and increasing the decision-making process.&nbsp;</p>



<p class="wp-block-paragraph">Thus, a Business Analyst is a person whose firm grasp of both worlds - technology and business - allows the contribution and proper team working between the CEO and the programmer since he can deeply understand the two parts involved.&nbsp;</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics.jpg"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-1024x576.jpg" alt="" class="wp-image-9253" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/12/analytics.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">The three main types of analytics to master&nbsp;</h2>



<p class="wp-block-paragraph">What should we do? What's the next step? How can I solve this problem? These and many more questions can be answered with business analytics, having data as the centerpiece of the whole project.&nbsp;&nbsp;</p>



<p class="wp-block-paragraph">The decision-making process is based on three main types of analytics encompassed in the business analytics area, those are:&nbsp;</p>



<ul class="wp-block-list"><li>Descriptive Analytics: uses the data to see what is happening or has happened in the company to create a bigger picture of the business and its situation. For instance, the sales certain businesses had of a specific product over the last two years, ordered by months. We could see the relationships with things such as the festivities, and temperatures, compared with the sales of its substitute or complementary product, among others.&nbsp;</li></ul>



<p class="wp-block-paragraph">In this analytics, we use techniques such as sentiment analysis, statistics, averages, graphic visualization, dashboards, etc.&nbsp;</p>



<ul class="wp-block-list"><li>Predictive Analytics: answers the question of what could happen. Its foundation is the analysis of the future based on the relationship between business variables. We could use for this analysis data mining techniques like linear regression, classification, clusterization, statistical analysis, or machine learning.&nbsp;&nbsp;</li></ul>



<ul class="wp-block-list"><li>Prescriptive Analytics: what should we do? Using the previously analyzed analytics, we conclude with a decision for the business, considering the rules, characteristics, vision, and objectives of the company involved. In this phase, we use optimization, simulation, or multi-criteria decision analysis tools.&nbsp;</li></ul>



<h3 class="wp-block-heading"><strong>“Without big data analytics, companies are blind and deaf, wandering out onto the web like deer on a freeway.”</strong> - Geoffrey Moore, management consultant and author of <em>Crossing the Chasm</em></h3>



<p class="wp-block-paragraph">Every Business Analytics project follows certain well-structured steps that include the tools to use and how to proceed. This is what data scientists or analysts use professionally in a company. However, all of this is scalable, it can be shaped for a small business or an entrepreneur from the most elemental, and still, without having the greatest techniques or tools, results can be improved considerably.&nbsp;</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata.jpg"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-1024x576.jpg" alt="" class="wp-image-9254" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/12/businessdata.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">7 steps to succeed in a Business Analytics Project</h2>



<ol class="wp-block-list"><li><strong>Data Sources</strong>: the basis of any project, data. By working with it, we will achieve our project objectives.</li></ol>



<p class="wp-block-paragraph"><strong>“Data are just summaries of thousands of stories—tell a few of those stories to help make the data meaningful.”</strong> - Dan Heath, bestselling author.</p>



<p class="wp-block-paragraph">The data is there, everywhere. However, not all have the same quality. It is important, when using business techniques based on data analysis, to find reliable sources of information and, above all, useful ones.</p>



<p class="wp-block-paragraph">There are many tools for this; I recommend doing two procedures when working with sources: go to secure pages of high-quality information and differentiate between data, information, knowledge, and insight.</p>



<p class="wp-block-paragraph"><strong>“We are surrounded by data, but starved for insights.”</strong>- Jay Baer, marketing and customer experience expert.</p>



<p class="wp-block-paragraph">It is very important to follow the steps of data, information, knowledge, and insight to discern what we have, where we come from, and where we are heading.</p>



<ul class="wp-block-list"><li><strong>Data:</strong> representation of an attribute or variable, that is, the data as we find it. Example: 2,700</li><li><strong>Information:</strong> organized data set. Example: 2700 blue sneakers sold this last month.</li><li><strong>Knowledge:</strong> conclusion. Example: Blue sneakers have sold very well this month.</li><li><strong>Insight:</strong> intelligent part, the objective.&nbsp; Example: improving the production of blue sneakers for the following month.</li></ul>



<p class="wp-block-paragraph">By interpreting the data and giving it meaning, we find the information, and when we draw conclusions from this, we have the knowledge, being able to obtain valuable insight.</p>



<p class="wp-block-paragraph">What kind of data do we have? We could mainly divide them into 3</p>



<p class="wp-block-paragraph">categories according to their format:</p>



<ol class="wp-block-list"><li>Structured Data: Have a fixed format and field. For example, everything you can put in a table, such as numbers.</li><li>Semi-structured Data: This is data that does not have a fixed format but does have some internal organization system that facilitates its treatment, such as labels, markers, etc. (XML, HTML, CSV).</li><li>Unstructured Data: They do not have any type of structure, for example, images, audio, or text, generally abundant in social networks.</li></ol>



<p class="wp-block-paragraph">And what about sources? We can divide them into sources internal to the company and external.&nbsp;</p>



<p class="wp-block-paragraph">Regarding the internal ones, we find CRM (customer relationship management) and ERP (enterprise resource planning). The first is associated with the management of the relationship with customers and commercial contracts, and the second one is with the company's own finances, sales, purchases, etc. In general, any data that the company itself gives us comes from an internal source.</p>



<p class="wp-block-paragraph">In external sources to the company, we will therefore have all the data that we obtain from abroad but that we need or that is convenient for the company. Examples: social networks, open data from governments, and official sources such as the National Statistics Institute, among others.&nbsp;</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness.jpg"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-1024x576.jpg" alt="" class="wp-image-9255" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/12/databusiness.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<ol class="wp-block-list" start="2"><li><strong>Data Ingestion: </strong>The<strong> </strong>process by which data is extracted from different sources to dump them into the data repository for further analysis. The main part of this is another process called ETL, which stands for Extraction, Transformation, and Load, although it's actually five major steps:</li></ol>



<p class="wp-block-paragraph">1.&nbsp; Data extraction</p>



<p class="wp-block-paragraph">2.&nbsp; Cleaning: Duplications, correct errors, complete empty values…</p>



<p class="wp-block-paragraph">3. Transformation: recovers the clean data and summarizes it in the analysis models.</p>



<p class="wp-block-paragraph">4. Integration: Validation that the data that we are going to load is consistent with the necessary definitions and formats.</p>



<p class="wp-block-paragraph">5. Update: A process that allows us to add new data to the repository.</p>



<ol class="wp-block-list" start="3"><li><strong>Storage: </strong>&nbsp;where are we going to store this data? It is generally a database, a set of related information whose treatment is facilitated using a database management system.</li></ol>



<ol class="wp-block-list" start="4"><li><strong>Processing:</strong> what do we do with the data? specific techniques used to answer the questions. How do we process this data? What do we want to do with them? This is the most technical part of the project and in which programming skills, data mining, etc., are involved.</li></ol>



<ol class="wp-block-list" start="5"><li><strong>Visualization:</strong> we will understand what we are doing and the results obtained, but we have to consider that this has to be understood by someone completely unrelated to us, who, in most cases, will not have the technical knowledge or skills that we have. That is why this phase focuses on synthesizing the information, putting it in graphs and dashboards, and showing the data and processes in the clearest way possible.</li></ol>



<ol class="wp-block-list" start="6"><li><strong>Consumption:</strong> It is time to present these dashboards and those results to others, perhaps to the CEO or those responsible for making the last decisions of the company. This is where the analyst has to demonstrate communication and problem-solving oratory skills and where he has to narrate that story with data from the moment the problem or objective was raised until he found the final proposal, justifying the entire process.</li></ol>



<ol class="wp-block-list" start="7"><li><strong>Action:</strong> decision making. Based on all the previous steps, what will the company do? This will be a very rich decision since it will have hard work behind it that confirms that it will be the best possible.&nbsp;</li></ol>



<p class="wp-block-paragraph">To make the long story short, data analysis can transform your business, not only making it more profitable, solving problems, or anticipating what the future holds, but also fulfilling the obligation to adapt to the constantly changing society that reigns in these times and avoiding being left behind, or stagnate; and as it is printed on the vinyl of my university class, “to transform a world of data into a world of intelligence”.</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull.png"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-1024x576.png" alt="" class="wp-image-9257" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/12/sandragalianoprofilefull.png 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="has-text-align-center wp-block-paragraph"><span style="font-weight: 600; text-align: center;">About the author:</span><span style="text-align: center;"> </span> Sandra is a tech-savvy young entrepreneur currently President of Generación Empresarial, a youth-oriented university association committed to creating the next generation of successful European business leaders.</p>



<p class="has-text-align-center wp-block-paragraph">🔥<a href="https://www.linkedin.com/in/sandra-galiano-bernardino-aaa677222/" target="_blank" rel="noreferrer noopener"> <strong>Check out more about Sandra here!</strong></a>🔥</p>
<p>The post <a href="https://cross-border-magazine.com/cn/what-is-business-analytics/">What is Business Analytics? 7 steps to make the right call!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
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		<title>How to use Amazon to launch your brand!</title>
		<link>https://cross-border-magazine.com/cn/use-amazon-to-launch-your-brand/</link>
		
		<dc:creator><![CDATA[Frank Calviño]]></dc:creator>
		<pubDate>Mon, 26 Sep 2022 11:59:45 +0000</pubDate>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[brands]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[Entrepreneur]]></category>
		<category><![CDATA[experts]]></category>
		<category><![CDATA[online shopping]]></category>
		<category><![CDATA[start a business]]></category>
		<category><![CDATA[USA]]></category>
		<guid isPermaLink="false">https://cross-border-magazine.com/cn/?p=8929</guid>

					<description><![CDATA[<p>By Alex Kassab - It is not a secret that Amazon is the biggest marketplace in the US and the world. Amazon represents a big part of eCommerce and having...</p>
<p>The post <a href="https://cross-border-magazine.com/cn/use-amazon-to-launch-your-brand/">How to use Amazon to launch your brand!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
]]></description>
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<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand.jpg"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-1024x576.jpg" alt="" class="wp-image-8930" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/09/amazonbrand.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="wp-block-paragraph"><strong>By Alex Kassab</strong> - It is not a secret that Amazon is the biggest marketplace in the US and the world. Amazon represents a big part of eCommerce and having an Amazon strategy for your brand is important to get your product into current and future customers' hands.</p>



<p class="has-text-align-center wp-block-paragraph">🔥Do you want to know more about international commerce and e-commerce, and also get all the tips and news that might give your company an edge?<strong>&nbsp;Subscribe to&nbsp;</strong><a href="https://cross-border-magazine.com/cn/order-your-free-copy-magazine/"><strong>Cross-Border Magazine&nbsp;and get your digital copy now for free</strong></a><strong>!</strong>🔥</p>



<h2 class="wp-block-heading"><strong>Why Sell on Amazon vs your website?</strong></h2>



<p class="wp-block-paragraph">I see it as having an aquarium (your brand with your eCommerce store) and going hunting for more fish in the ocean (Amazon). Amazon is where your potential future customers are buying, therefore our duty is to make sure they discover our brand where they are currently buying.&nbsp;</p>



<p class="wp-block-paragraph">Once they explore and buy your product, then you have a small window to try to convince them to go to your site and continue nurturing that relationship.</p>



<p class="wp-block-paragraph"><strong>Some impressive </strong><a href="https://sell.amazon.com/blog/grow-your-business/amazon-stats-growth-and-sales"><strong>Amazon Stats</strong></a><strong>:</strong></p>



<ul class="wp-block-list"><li>300 million customers shop in Amazon stores worldwide.</li><li><a href="https://assets.aboutamazon.com/9b/84/05cb2fc14da18e4574a5132f675a/amazon-smb-report-2021.pdf?initialSessionID=130-6033186-8392552&amp;ld=NSGoogle&amp;ldStackingCodes=NSGoogle">Nearly 2 million</a> small- and medium-sized businesses are Amazon's third-party selling sellers.</li><li>It is one of the most trusted brands in the world.</li></ul>



<p class="wp-block-paragraph">I started selling online back in 2006 when I lived in Venezuela. I used to sell stuff on MercadoLibre, a marketplace like eBay in Latin America. Later I moved to the US and started selling on Amazon, eBay, Walmart, and other marketplaces.</p>



<p class="wp-block-paragraph">Let's assume you have a community and a product and you want to launch your brand to the world.&nbsp;</p>



<p class="wp-block-paragraph">Here are some lessons I learned and what I would do if I were <a href="http://alexkassab.com">starting a brand today</a>.</p>



<ol class="wp-block-list"><li><strong>Create a website (using any eCommerce platform)</strong></li></ol>



<p class="wp-block-paragraph">You need to have a website and a place where you can list all your products. This is like your house. You own the land, you can create your own rules and terms of service.</p>



<p class="wp-block-paragraph">The main difference between your website and Amazon is that you get to know your customers, their phone numbers, email addresses, how often they buy from you, and what they like.&nbsp;</p>



<p class="wp-block-paragraph">This is key to really understanding where to innovate and the pulse of the brand.&nbsp;</p>



<ol class="wp-block-list" start="2"><li><strong>Register and Protect your Brand with </strong><a href="https://brandservices.amazon.com/"><strong>Amazon Brand Registry</strong></a></li></ol>



<p class="wp-block-paragraph">Assuming you own the trademark of your brand, the first step is to register with Amazon Brand Registry.&nbsp;</p>



<p class="wp-block-paragraph">This allows you to use different tools Amazon offers to enhance your listing and protect your brand from potential IP infringements by your competitors.</p>



<p class="wp-block-paragraph">Amazon is all about the experience and these tools allow you to add pictures, videos, enhanced content, and a better grip on your listing.</p>



<ol class="wp-block-list" start="3"><li><strong>Select one product and list it on Amazon</strong></li></ol>



<p class="wp-block-paragraph">Select one or two products to launch.</p>



<p class="wp-block-paragraph">If you list every single one of your SKU then you will dilute the effort. It is important to only list your best-selling product, so you can focus 100% of your attention on making that product rank on A9 (Amazon Search Algorithm).</p>



<p class="wp-block-paragraph">You will still have all your portfolio on your website, but on Amazon focus on ideally one product at a time.</p>



<p class="wp-block-paragraph">Many brands don't pay attention to their presence on Amazon and they either let other sellers list their products or simply do not have any presence at all. Both of these options harm your brand, especially option 1 as you are at the mercy of the person that listed the brand.</p>



<ol class="wp-block-list" start="4"><li><strong>Select Fulfillment Type Service</strong></li></ol>



<p class="wp-block-paragraph">There are two options when selling on Amazon. FBA (Fulfillment by Amazon) and FBM (Fulfillment by Merchant). I suggest you try FBA as Amazon will do the fulfillment for you. You can list your product to have a backup as FBM in case you go out of stock on FBA.</p>



<ol class="wp-block-list" start="5"><li><strong>Drive External Traffic to your Listing</strong></li></ol>



<p class="wp-block-paragraph">Amazon loves this. You are going to do a big launch through your social channels, blog, website, email list, influencers, etc, and drive tons of traffic to your listing. Since you are bringing outside traffic to Amazon and they are converting, Amazon will rank you higher than other products. Depending on the size of your community you might get into the “Amazon Hot New Releases”. That will trickle new eyeballs and therefore your community will make other potential buyers notice your product.</p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic.jpg"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-1024x576.jpg" alt="" class="wp-image-8932" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-1024x576.jpg 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-300x169.jpg 300w, https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-768x432.jpg 768w, https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-780x439.jpg 780w, https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic-1190x669.jpg 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/09/webtraffic.jpg 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<ol class="wp-block-list" start="6"><li><strong>Monitor Pricing</strong></li></ol>



<p class="wp-block-paragraph">There are tools to help optimize your pricing and make sure you are being competitive. Pricing changes multiple times a day and tools like <a href="https://profasee.com/">Profasee</a> help you maximize sales, margins, and profits.&nbsp;</p>



<ol class="wp-block-list" start="7"><li><strong>Get Reviews - Social Proof</strong></li></ol>



<p class="wp-block-paragraph">Once you get your initial sales since it is your community the verified purchase reviews will start trickling down and help you rank higher for the keywords in your listing.&nbsp;</p>



<p class="wp-block-paragraph">That is why it is important to make sure your listing has the proper keywords so amazon knows what are you selling.</p>



<ol class="wp-block-list" start="8"><li><strong>Replenish Stock and never go out-of-stock</strong></li></ol>



<p class="wp-block-paragraph">Try as much as you can to never go out of stock. This will make the product tank as it will not sell while you are out of stock. It is an art and a science, how many units do you need to send to avoid going out of stock, but at the same time, you don't want to send too many as Amazon will charge you per sq ft of inventory stored.</p>



<ol class="wp-block-list" start="9"><li><strong>Rinse and Repeat</strong></li></ol>



<p class="wp-block-paragraph">Once you rank your first product, you can plan a second launch for your second product. Many sellers try to list everything at once and end up not positioning any product as the efforts get diluted among all products.</p>



<p class="wp-block-paragraph">If you use Amazon as a way to acquire new customers and your website as a way to nurture your customers, you will probably have a great brand. I used to rely too much on Amazon which is a risky game to play, as you are relying on rented land and you might get kicked out when you least expect it. Having an omnichannel brand or channel agnostic brand is the way to go in 2022.</p>


<div class="wp-block-image">
<figure class="aligncenter size-full"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/09/alexkassab.png"><img loading="lazy" decoding="async" width="200" height="200" src="https://cross-border-magazine.com/wp-content/uploads/2022/09/alexkassab.png" alt="" class="wp-image-8931" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/09/alexkassab.png 200w, https://cross-border-magazine.com/wp-content/uploads/2022/09/alexkassab-150x150.png 150w" sizes="auto, (max-width: 200px) 100vw, 200px" /></a></figure>
</div>


<p class="has-text-align-center wp-block-paragraph"><strong>About the author:</strong> Alex Kassab, a Serial Entrepreneur, Brand Builder, and Digital Marketer is an expert entrepreneur in the USA featured multiple times in the media as a successful history and case study for its brands Vitabox and Paletas Morelia. Check out more about<a href="https://alexkassab.com/"> <strong>Alex here!</strong></a></p>
<p>The post <a href="https://cross-border-magazine.com/cn/use-amazon-to-launch-your-brand/">How to use Amazon to launch your brand!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
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		<title>Entrepreneur: 3 core traits for success in Europe!</title>
		<link>https://cross-border-magazine.com/cn/entrepreneur-3-core-traits-for-success-in-europe/</link>
		
		<dc:creator><![CDATA[Frank Calviño]]></dc:creator>
		<pubDate>Sat, 02 Jul 2022 12:20:35 +0000</pubDate>
				<category><![CDATA[Insights]]></category>
		<category><![CDATA[business]]></category>
		<category><![CDATA[cross-border]]></category>
		<category><![CDATA[e-commerce]]></category>
		<category><![CDATA[Entrepreneur]]></category>
		<category><![CDATA[Entrepreneur EU]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[European Entrepreneur]]></category>
		<category><![CDATA[management]]></category>
		<category><![CDATA[marketing tools]]></category>
		<category><![CDATA[start a business]]></category>
		<guid isPermaLink="false">https://cross-border-magazine.com/cn/?p=8670</guid>

					<description><![CDATA[<p>The European entrepreneur differentiates from other entrepreneurs globally in many ways: for once they have to battle in a remarkably competitive market. Europe is filled to the brim with high-quality...</p>
<p>The post <a href="https://cross-border-magazine.com/cn/entrepreneur-3-core-traits-for-success-in-europe/">Entrepreneur: 3 core traits for success in Europe!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
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<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur.png"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-1024x576.png" alt="" class="wp-image-8671" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneur.png 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="wp-block-paragraph">The European entrepreneur differentiates from other entrepreneurs globally in many ways: for once they have to battle in a remarkably competitive market. Europe is filled to the brim with high-quality brands, companies that have centuries of history, and even some of the world's top-notch technological and industrial brands. </p>



<p class="wp-block-paragraph">Do you want to know more about international commerce, e-commerce, and also get all the tips and news that might give your company an edge? <a href="https://cross-border-magazine.com/cn/order-your-free-copy-magazine/" target="_blank" rel="noreferrer noopener"><strong>Subscribe to Cross-Border Magazine</strong></a> and get your digital copy now for free!</p>



<p class="wp-block-paragraph">This is by no means an easy market. Especially for those who are just starting from scratch.&nbsp;</p>



<p class="wp-block-paragraph">So, what can we do to be successful as European entrepreneurs? Let’s find it out today! </p>



<h2 class="wp-block-heading">How to be an entrepreneur in Europe?</h2>



<p class="wp-block-paragraph">First things first, to be an entrepreneur in Europe you need two fundamental things: comply with all the current legislation that will allow you to enact your commercial activity in whichever country of the Union you are based, and secondly, have the nerves and the steel to pursue a total commitment towards acquiring or developing the following five traits.&nbsp;</p>



<p class="wp-block-paragraph">Otherwise, your story as an entrepreneur will be short-lived and probably doomed to fail.&nbsp;</p>



<h3 class="wp-block-heading">Legal requirement to start a business in the EU</h3>



<p class="wp-block-paragraph">Depending on the country that you choose, the type of business, and the legal formula you want to use - either be a company, a limited society, or a corporation just to mention a few - you will face different kinds of requisites to be able to legally operate inside the EU.&nbsp;</p>



<p class="wp-block-paragraph">And please, do pay attention to this first step. Becoming an entrepreneur in the EU is something that you can not do outside of the law. This is not like it happens in Latin America or India - just to put two examples - where you can start rolling out with your business and eventually find your way around all the legal paperwork.&nbsp;</p>



<p class="wp-block-paragraph">Laws concerning commercial activities in the EU are enforced with keen zeal by each member state government and often carry with them heavy sanctions that can fatally wound any fledgling business.&nbsp;&nbsp;</p>



<ul class="wp-block-list"><li>Don't even start your business if you do not have all the legal requirements for your commercial activity. Not even to “try out” with just a “few quick sales among friends” for this could bring legal consequences for you, your business, and your brands.&nbsp;</li></ul>



<p class="wp-block-paragraph">If you want to know more about what specific legal requirements you need to comply with, we highly recommend that you check your desired business activity requirements on the corresponding website of the national authority for that activity in the country in which you want to operate.&nbsp;</p>



<p class="wp-block-paragraph">And you can also use <a href="https://europa.eu/youreurope/business/running-business/start-ups/starting-business/index_en.htm">this official link</a> to have a general idea of the requisites inside the EU.&nbsp;</p>



<h2 class="wp-block-heading">Entrepreneurs are flexible and resilient&nbsp;</h2>



<p class="wp-block-paragraph">With the legal part of our chests, we can start checking out some core traits that will give you the cutting edge if you plan to become a European Entrepreneur.&nbsp;</p>



<p class="wp-block-paragraph">And the first one is to develop business flexibility. This is fundamental in Europe.&nbsp;&nbsp;</p>



<p class="wp-block-paragraph">Business flexibility is the ability of a company to adapt to changing circumstances and thus remain a profitable enterprise. A business that is able to anticipate changes in consumer preferences and alter production to meet those new expectations has a much better possibility of continuing over the long term.&nbsp;</p>



<p class="wp-block-paragraph">For this reason, including measurement of flexibility within the company operation is often considered key to assessing the strength of the business, and thus arriving at an accurate understanding of the potential for business endurance.</p>



<p class="wp-block-paragraph">This becomes acutely important in highly competitive markets, like the European one, where a new product or a product innovation for an already established product, can shift the entire “balance of power” for that particular activity, plunging into the deeps of the ocean those companies incapable of adapting themselves to the new competitor.&nbsp;</p>



<h2 class="wp-block-heading">Entrepreneur Lifestyle: focus and commitment</h2>



<p class="wp-block-paragraph">Focusing on your goals, and pursuing them relentlessly is also a fundamental trait for the European entrepreneur. The EU market is highly competitive but, it is also considered stable from an inflation and economic perspective. </p>



<p class="wp-block-paragraph">This in turn allows for long-term plans to be implemented with a certain degree of accuracy, as long as “ceteris paribus” applies, meaning, as long as no massive innovation or breakthrough comes to light in your line business.&nbsp;</p>



<p class="wp-block-paragraph">For the European entrepreneur, success is usually achieved via discipline. It's a marathon, not a sprint.&nbsp;</p>



<p class="wp-block-paragraph">So try to keep your long-term plans on the horizon, be focused on the small things that you can do to improve every single day, and pursue the mid and short-term goals with relentless dedication.&nbsp;</p>



<p class="wp-block-paragraph">Keep in mind that, in the EU, most small businesses take at least 2 to 3 years to be profitable and become truly successful once they’ve hit the <a href="https://www.entrepreneur.com/article/310973">7 to 10 year mark. </a></p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope.png"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-1024x576.png" alt="" class="wp-image-8672" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureurope.png 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<h2 class="wp-block-heading">An Entrepreneur is smart and keeps learning</h2>



<p class="wp-block-paragraph">Finally, the third component you must have is the will and wisdom to keep learning. You need to understand that entrepreneurship in general, is a lifelong vocation. This is not a second plate gig that you can do “just to increase a bit more my revenues” it doesn't work like that.&nbsp;</p>



<p class="wp-block-paragraph">To be successful you must dominate a lot of things that are, by their own nature, everchanging: payment methods, logistics, competition, markets, and so on and so forth.&nbsp;</p>



<p class="wp-block-paragraph">So when we said “you need to keep learning” it is not a recommendation or guideline, is a requisite. You need to set time apart from your daily schedule to learn every day a bit about the things that might impact your business.&nbsp;</p>



<p class="wp-block-paragraph">For many entrepreneurs, this comes as a natural thing, because well, normally those with curious minds end up choosing the adventurous path of entrepreneurship. But if you feel lacking in this department, it might come in handy to develop a routine of “continuous improvement”. </p>



<p class="wp-block-paragraph">This is a nice way to do it by combining <a href="https://www.inc.com/the-muse/10-simple-ways-become-constant-learner-increase-knowledge-no-effort.html">intellectually challenging activities with hobbies</a> but you can rest assured that we will also provide you with our own Cross-Border Guide for Entrepreneurs to Keep Learning in the near future!&nbsp;</p>



<p class="wp-block-paragraph">Finally, we want to leave you with two more unofficial traits that, even if they are not technically needed to be successful, we can highly recommend:&nbsp;</p>



<p class="wp-block-paragraph"><strong>Be humble and efficient and be yourself and unique. </strong></p>



<p class="wp-block-paragraph">Do not think that you know already all that there is to know about any specific part of your business or the market, and have the degree of human decency to give allowance for your own mistakes or for other people to make mistakes in good faith. </p>



<figure class="wp-block-image size-large"><a href="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu.png"><img loading="lazy" decoding="async" width="1024" height="576" src="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-1024x576.png" alt="" class="wp-image-8673" srcset="https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-1024x576.png 1024w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-300x169.png 300w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-768x432.png 768w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-780x439.png 780w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu-1190x669.png 1190w, https://cross-border-magazine.com/wp-content/uploads/2022/07/entrepreneureu.png 1280w" sizes="auto, (max-width: 1024px) 100vw, 1024px" /></a></figure>



<p class="wp-block-paragraph">Things, sometimes don’t go the way we want them. And we can’t be crucifying the whole world for the slightest mistakes. </p>



<p class="wp-block-paragraph">In that same line of thought, you can perfectly well be efficient without being rude. Finally, try to be yourself. Being different is good for a brand or product. It makes you earn a place in the mind of the consumers, it gives you identity. As an entrepreneur it applies the same principle: be unique, be yourself. That’s the best way to stand among the crowd!</p>
<p>The post <a href="https://cross-border-magazine.com/cn/entrepreneur-3-core-traits-for-success-in-europe/">Entrepreneur: 3 core traits for success in Europe!</a> appeared first on <a href="https://cross-border-magazine.com/cn">Cross-Border Magazine</a>.</p>
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