The 4 Unexpected Moves That’ll Turn Your Struggling Online Business Into a Money-Making Machine—Starting Today

Becoming an ecommerce entrepreneur is not for the faint of heart. The technological hurdles can be substantial. And there is ample competition within the space.

The good news is that the technology has created opportunities, and the competition is there because there is substantial opportunity. Technology and the acclimation of society to buying online have created a perfect storm of opportunity that shows no signs of abating.

So what has to happen to be a successful participant as an ecommerce entrepreneur? Here are four initiatives one must embrace.

Related: 5 Things I Wish I Knew Before Launching an Ecommerce Business

1. Experiment, experiment, experiment

This is a mentality. As we all know, failure can be your friend. And failure, inevitably, arises from experimentation. Some of my experiments early in my ecommerce career that didn’t pan out were: Starting my own private label brand early on without doing enough market research, specifically checking for demand of the item, and relying too heavily on one supplier or fulfillment channel.

This being said, if I had not taken the chance, I would not be where I am today.

One of the best ways to cultivate this habit is to embrace mentors. They can think about things analytically, without the baggage of the business being “their baby.” Take inventory of what they suggest, and step out into the unknown. It is your best chance of success.

2. Track the competition

Ten years ago, I was just starting my first store on the Amazon marketplace and opened several niche Shopify stores around the same time. I focused on the competition, often trying to learn how they might approach a similar challenge to what I was facing.

For example, I noticed some people were creating funnels for their ecommerce stores. I took note of that. Some of them were testing out different types of landing pages. Others were testing out YouTube ads for ecommerce products back in the 2010s, specifically trendy gadgets with the potential to go viral. It was something I had never experimented with before, and it was a really creative, niche-specific way of marketing. I went on to build out product funnels of my own, learned about upsell strategies, what goes into making a strong product landing page and so much more.

3. Embrace financial literacy

When I started my ecommerce business, I knew quite a bit about online marketing — I had a small locally based marketing agency in Northern California in my early 20s and I created a social media influencer business. Both of these ventures taught me important things about running an ecommerce business.

Creating and analyzing financial metrics wasn’t exactly my strong suit in the beginning. I started by learning how to read basic reports like profit and loss statements, and quickly realized how crucial it is to know which numbers actually matter. As an ecommerce seller, you have to keep a close eye on metrics like your average order value (AOV), cost per acquisition (CPA), cost of goods sold (COGS), gross revenue, net profit, overall profit margin and more.

At first, I didn’t fully understand how all these pieces fit together, so I had to learn as I went. That experience is a big part of why we prioritize financial education for our clients. Even though we break the numbers down into clear, actionable insights, we also want to empower them. Whether they eventually want to run their own operation or branch out into a related ecommerce business, perhaps on Amazon, understanding the financial side is essential.

Related: How to Build, Grow and Make Money With Ecommerce

4. Delegate

Successful people buy their time back. If you can afford to, outsource at the outset. Generally, if you do that, you can grow faster. You can’t do everything at once. You can’t wear an expert hat in every area. I tried in my early and mid-20s to do so much on my own, only to be faced with major symptoms of burnout.

Outsource it. For example, even if you’re just starting out with a modest budget, consider hiring a virtual assistant. You can train them to support your operations, or they may already bring expertise in areas where you lack experience, such as customer service or product research. A skilled assistant can help manage customer communications and keep buyers satisfied while orders are being fulfilled. Alternatively, a product researcher can take on the time-consuming task of identifying opportunities, whether you guide their efforts or delegate it entirely, freeing you up to focus on higher-level strategy. Either way, you’re buying your time back.

Reclaiming your time by delegating is one of the most strategic investments you can make. It shifts you from an operator to a true owner.

At the end of the day, ecommerce success isn’t about doing everything perfectly from the start but it is about taking action, learning quickly and making adjustments along the way. The entrepreneurs who thrive are the ones who stay curious, keep testing and aren’t afraid to “fail forward.” Every mistake you make is simply another step closer to understanding what works and building the foundation for long-term success.

If you’re willing to experiment, study your competitors, get a handle on your numbers and learn to delegate, you’ll put yourself miles ahead of most people who give up too early. The road won’t always be smooth, but the opportunities are very real. Ecommerce is still growing, and the best time to build something meaningful is right now.