As we all know that, most businesses come with inherent risks, so what are the possible loss migrating measures for online business that deals with a boutique?
What are the possible loss mitigating strategies for online businesses.
- Thread starter Xtynehappy
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Reducing expenses remains the best option to reduce losses for an online business especially if it difficult to increase sales. I am letting many domains expire since I cannot pay domain renewal fees for many of them.
I bet that people should be in the position to choose the online businesses wisely. There are other online businesses that are more risk inherently than others.
Avoid selling on credit or selling your products to get payment on delivery. Some buyers are scammers you need to avoid them
Make sure you make very accurate orders for your clients to avoid the potential risks on delivering to the wrong addresses
eLdavis
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Always ensure you get the orders right so you do not deliver the wrong products to your customers. In situations like this you will have to spend double on collecting the products and resending it back.
