In the world of e-commerce, money is everything. But don’t make the mistake of thinking your revenue is the most important number.
Although it might be nice to see huge numbers of sales coming through, at the end of the day, it’s your overall profit margin that determines the success of your business.
Think about it like this.
- You sell pens for $10 each.
- You sell 100 pens.
- That gives you a revenue of $1000.
However, what you haven’t factored in is that it costs you $9.00 to buy the pens[...]