The Magic of eCommerce: a Place for Infinite Possibilities
The following is the blog version of a conversation and topic exploration I had with Wendy Jensen of Scandinavianhearts.com
Listen to the episode or read the blog version below:
E-commerce Mindset: Infinite Possibilities and Problem-Solving
In the rapidly evolving world of e-commerce, having the right mindset is crucial for success. We spoke with Wendy, an experienced e-commerce entrepreneur and consultant, to get her insights on what constitutes an effective e-commerce mindset.
Embrace Infinite Possibilities
One of the most exciting aspects of e-commerce is its limitless potential. Unlike brick-and-mortar stores, online businesses aren't confined by physical boundaries. As Wendy puts it:
"In the world of e-commerce, [opportunity] is infinite. That's what makes me really excited about e-commerce - the opportunities, the audience, the scale, it really is infinite."
This global reach allows entrepreneurs to connect with niche markets and audiences worldwide, opening up possibilities that were once unimaginable in traditional retail.
Develop a Problem-Solving Attitude
E-commerce is a dynamic field that requires constant adaptation. Wendy emphasizes the importance of being a problem solver:
"You have to be a problem solver. That's been my main attribution that helps me succeed. I'm continuously solving problems... E-commerce is just evolving, so being a problem solver really sets you up for success."
This mindset involves being ready to try new approaches, tweak strategies, and stay updated with the latest trends and technologies.
Balance Infinite Possibilities with Specialization
While the potential reach in e-commerce is vast, it's crucial to find a balance between broad appeal and specialization. Tina points out:
"A big part of the mindset is really understanding what you stand for and niching down."
Wendy agrees but offers a nuanced perspective:
"I think it's really about the values... It's almost more about the values than the niche. I think it's really helped me frame my social media and frame my messaging, thinking about how I connect with the core values of my business and the core values of my audience."
This approach allows businesses to connect with a wider audience while still maintaining a focused brand identity.
Embrace a "Test and Learn" Approach
Instead of viewing setbacks as failures, successful e-commerce entrepreneurs adopt a "test and learn" mentality. Wendy shares:
"What we did in the corporate world was test and learn, test and learn, test and learn. So at any given day, we had over 500 tests going, and then we would just test and learn and turn one off and be proud that we accomplished it and be proud that we learned something."
This approach takes the sting out of "failure" and reframes it as a valuable learning experience.
Stay Informed and Adaptable
The e-commerce landscape is constantly changing. To stay ahead, Wendy advises:
"Every day, every morning I wake up, like every first thing I do is read the news to see what new technology is, what's trending, what the trends are because it is constantly evolving."
This commitment to ongoing learning and adaptation is key to long-term success in e-commerce.
An effective e-commerce mindset combines an appreciation for infinite possibilities with a focused, problem-solving approach. By emphasizing values, embracing a "test and learn" mentality, and staying informed about industry trends, e-commerce entrepreneurs can position themselves for success in this dynamic and exciting time.