PART 2/4: How To Launch And Manage A New Business In Only 15 Mins A Day

Podcast transcript

Hello, and welcome to part 2 of our 4 part series about launching and managing a business in only 15 mins a day, to allow you to start a new business alongside your busy schedule.

Let’s continue with…

Day 7: Decide on your pricing structure (and currency)

You can charge any amount for the products you sell on your store - make sure you take product costs per unit, any shipping fees, payment processing fees, taxes, your cost per acquisition and of course your profit margin into account. With a Startup Streams business for sale, you can use our recommended retail prices which will automatically appear when you add the ebooks to your store in Shopify or you can edit each individual price to suit your business strategy. The price range can be anywhere from $1-$50 but if you do choose to go for the upper price bracket, make sure you are providing enough value to your customers.

Day 8: Add a payment provider

How do you want to get paid? You’ll need to add a payment processor to your store in order to automatically take payments from your customers. Popular providers include Apple Pay, Amazon Pay, Google Pay and of course PayPal. We highly recommend Shopify Payments (which is actually Stripe) which accepts most card types globally. Make sure that you check which provider is available in your country or geographic region.

Day 9: Visit the Shopify app store

The Shopify app store has over 7300 readily available applications which can seamlessly install and run on your store. Apps greatly increase the productivity and customisation for your store and there are plenty of apps which may be worth looking into. Many are free, but as you’d understand some of the best ones are paid apps so be careful how much you spend each month on apps before making sales. We highly recommend an app called ‘Stickify' (which is a sticky add to cart button) and ‘In Cart Upsell’ which helps you to recommend items to a customer on the cart page when they add something to cart. Both of these apps are free!

Day 10: Add a Cookie banner if you plan to sell in the EU. 

According to EU Spam Law, you need to add a cookie permission banner to allow those in the EU to give you permission to monitor their activity on your website. Your Shopify store will monitor customer’s activity such as which pages they visit. You can install an app on your website, found on the Shopify App store, free of charge.

Day 11: Create an email account

It may be a good idea to setup a dedicated email account for your business. This is to separate customer correspondence from your personal email to make sure no messages get missed or lost in your junk box. You could either set up a free Gmail account (yourbusiness@gmail.com) or a professional Business Gmail account which you will need to pay for each month (info@yourbusiness.com). It is interesting to note that if you buy a domain through your Shopify store, it comes with free email forwarding so any email sent to your company’s email address (info@yourbusiness.com as an example) will be forwarded to your personal account, or any account you nominate. You will have to respond to these forwarded emails from your own inbox but it is a great cost effective solution as you start out, before making sales.