Long Sight: Five Mistakes That Will Deprive Your Online Business of the Future

Many companies are looking to get online trading up and running as quickly as possible. But selling something online is not the same as building a sustainable online business. Avoid 5 Mistakes When Launching Direct Selling, McKinsey Says

It happened surprisingly quickly, as if by magic: in response to the COVID-19 pandemic, companies around the world switched to e-commerce. The big winners, however, were the big retail chains, who had invested years in developing e-commerce skills and were therefore able to quickly adapt to changing consumer behavior. As for small and medium-sized retail players (with annual revenues of less than $5 billion), as well as branded manufacturers, such as consumer goods and clothing, their share of revenue from e-commerce is still much less significant.

Those companies that are trying to launch a business or minimum viable product (MVP) in the field of e-commerce as quickly as possible often make momentary decisions, but after six months or a year, real difficulties begin. We have identified five mistakes that are made in the short term and often prevent players from successfully growing and developing in the long term.