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Entrepreneurship
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Five best Shopify plugins to reduce cart abandonment When it comes to online shopping, there's always the risk of leaving items in your cart and never finishing the purchase. In fact, studies show that about two-thirds of shoppers abandon their carts every time they shop online. Thankfully, there are some great Shopify plugins out there that can help reduce or even eliminate this problem altogether. In this post, we'll take a look at five of the best plugins for reducing cart abandonment. So if you're looking to improve your online store's checkout process, read on! 1. Use a Shopify plugin to offer customers discounts for abandoning their cart If you're running a store, it's important to do everything you can to convert website visitors into paying customers. One way to do this is to offer discounts for customers who abandon their shopping carts. By installing a Shopify plugin, you can automatically offer discounts to customers who abandon their carts, which may encourage them to complete their purchases. There are a number of different plugins available, so be sure to choose one that meets your specific needs. With a little effort, you can significantly increase your conversion rate and boost your bottom line. 2. Use a Shopify plugin to remind customers what they left in their cart As any online shopper knows, it's all too easy to get distracted and leave items in your virtual shopping cart without completing the purchase. For e-commerce businesses, abandoned shopping carts can represent a significant... (More)
Ayesha Kapoor
Growth Marketing at Chargebee
Whether you’re an early stage or mid-stage subscription business, managing subscriptions can get frustrating. But why is it so? You’ve been using your payment gateway so far for recurring billing. Because it also offers that, right? Hit pause right there. What you just did is overlook the complexity that subscriptions bring to the table. Subscriptions keep changing over time and can be incredibly complex. Accommodating for this complexity means that you need a system that has the capacity to handle these changes effortlessly in a way that payment gateways are not set up for. Payment Gateways excel in processing payments – because that’s what they’re made for. The primary function of a payment gateway is to help you collect payments from your customers. They sit between the buyer and the seller, facilitating transactions. Essentially, the role of a payment gateway boils down to authorize, to approve or decline, and to report online transactions. (On a side note, check out our Payment Gateway Providers 101 post to understand how a payment gateway works.) Payment gateways like Stripe, Braintree and Adyen do offer recurring billing solutions, which cover some of the basic payment requirements of subscription driven businesses. However, these capabilities fall short in the context of more advanced subscription workflows. In this post, we will dig in and see why this matters and how it impacts subscription commerce and SaaS companies. Scaling becomes painful Scaling a business is complex and stressful. Recurring billing is just one of the factors to worry... (More)

Bob Adams

 

                                                                        

Bob Adams is the founder of BusinessTown the go-to learning platform for people starting and running their own businesses. Bob has started dozens of successful businesses, including one he launched with $1500 and sold for $40 million. He also has an MBA from Harvard Business School.

Reasons How Professional Experience Can Help You Become A Better Entrepreneur

Starting, sustaining and growing a business requires vision, fortitude and perseverance. Having worked out a great business plan and figuring out the funding is a great first step but most business plans go through a metamorphosis at every stage of the company’s growth. Local market dynamics, regulatory pitfalls, global economic shifts and other problems can derail the best laid out business strategies. This is when hardcore entrepreneurs dig-in their heels and draw upon their experience to chart a future course of action.

They say hindsight is always 20:20. Professional experience can be of great help and come in handy while putting together the nuts and bolts on your business plan and working out a long-term market approach. Success rarely travels a straight line then how does one stay focused and committed to one’s goals irrespective of the challenges?

A report by IBM Institute for Business Value and Oxford Economics has found out that 90per cent of Indian startups fails within the first five years of their operation. Not being a part of this becomes a herculean challenge. In my not-so-long journey as an entrepreneur:

  • Identification of the Problem: This is learning # 1. The key to understanding what entrepreneurship is about is to assimilate this one diktat. Identify a critical, unserved problem in the market that you can address with a winning solution. Once you’ve narrowed in on this, make sure that all important elements of your business, from your strategy to your operational plans to your hiring revolve around... (More)