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OR PSS.
DANNY FOUNDED PSS IN 2016 TO
HELP SMALL BUSINESSES CAPITALIZE
ON THE EXPLOSION OF ONLINE
SHOPPING.
PEOPLE HAVE BEEN COMFORTABLE
WITH ONLINE SHOPPING FOR
EVERYTHING AND PEOPLE ARE
SEEKING OUT UNIQUE PRODUCTS.
DANNY HAS CREATED A FULFILLMENT
CENTER THAT PROVIDES A FULL
RANGE OF DISTRIBUTION FOR
CONSUMERS AND RETAILERS FOR THE
FOOD INDUSTRY.
HE NOW HAS TWO HOUSES IN THE
U.S. THAT CAN REACH 92% OF THE
U.S. POPULATION WITH A TWO-DAY
GROUND SERVICE.
E-COMMERCE HAS REALLY PAID OFF
FOR DANNY AND IT CAN FOR YOU
TOO.
DANNY IS A GREAT EXAMPLE OF
LEVERAGING AN E-COMMERCE
NETWORK.
SO THAT REALLY ENDS MY PORTION
OF TODAY'S WEBINAR.
THANK YOU FOR JOINING ME.
I HOPE YOU COME AWAY FROM THIS
WITH SOME KNOWLEDGE, SOME
INSPIRATION ON HOW TO GO FORWARD
WITH E-COMMERCE.
REMEMBER, MAGNIFY YOUR ONLINE
PRESENCE, ESPECIALLY ON MOBILE.
EMPOWER YOUR GROWTH WITH FAST
SHOPPING, SHIPPING OPTIONS AND
RETURNS.
BE SURE TO CHECK OUT ALL THE
BOOTHS HERE AT THE SCORE
START-UP VIRTUAL CONFERENCE AND
MAKE THE MOST OF YOUR VISIT
TODAY, OUR START-UP OR SMALL
BUSINESS IS SO FULL OF POTENTIAL
AND SO MANY POSSIBILITIES AWAIT
YOU.
IF YOU WANT TO KNOW MORE ABOUT
WHAT I TALKED ABOUT TODAY OR
ABOUT WHERE SMALL BUSINESSES AND
IMMERSE MEET, STAY ON FOR A LIVE
PANEL OF EXPERTS WHO WILL ANSWER
YOUR QUESTIONS AND PROVIDE THEIR
O OWN INSIGHT, OR, OF COURSE,
CHECK OUT THE PODCAST, "MAKING
IT WORK."
>> OKAY.
SO WE WILL NOW MOVE INTO THE Q&A
PORTION OF OUR CALL.
I WILL BE READING THE CHAT
QUESTIONS THAT OUR PARTICIPANTS
HAVE SENT IN.
IN THIS TIME REMAINING, THE
FEDEX PANELISTS WILL ADDRESS AS
MANY QUESTIONS AS WE POSSIBLY K.
WITH THAT, LET'S GO AHEAD AND
JUMP INTO THESE QUESTIONS HERE.
THIS FIRST QUESTION COMES TO US
FROM MICHAEL.
MICHAEL WOULD LIKE TO KNOW WHAT
ADVICE YOU WOULD GIVE SOMEONE
STARTING OUT ON HOW TO CHOOSE AN
E-COMMERCE PLATFORM.
>> WELL, SELECTING YOUR
E-COMMERCE PLATFORM IS ONE OF
THE MOST CRITICAL DECISIONS WHEN
STARTING UP.
THE REASON IS REALLY SIMPLE.
YOUR EC PLATFORM IS THE BACKBONE
FOR YOUR E-COMMERCE BUSINESS,
AND THE ABILITY TO ADD FEATURES
AND SERVICES MAKES YOUR SITE
EASY TO RUN AND IN MANY CASES IT
WILL DETERMINE OW SUCCESSFUL
YOUR BUSINESS IS OUT OF THE
GATE.
MANY ONLINE RETAILERS ACTUALLY
DEFAULT TO THE MOST POPULAR
PLATFORM THAT THEY FIND ONLINE
THROUGH SEARCHING OR POSSIBLY
THE CHEAPEST PLATFORM AVAILABLE.
BUT BEFORE YOU DO THAT, YOU
SHOULD CONSIDER SEVERAL FACTORS.
ONE, IS YOUR PLATFORM SCALEABLE?
A LOT OF START-UP BUSINESSES
LOOK AT THEIR PLATFORM AND WHAT
THEY CAN SUPPORT AND WHAT THEY
NEED TODAY, BUT THEY'RE NOT
REALLY LOOKING FOR TOMORROW.
SO CAN YOU EXPAND YOUR BUSINESS
ON THAT PLATFORM?
THE OTHER THING THAT YOU SHOULD
CONSIDER IS DOES YOUR PLATFORM
REALLY SUPPORT THE ENHANCED
FUNCTIONALITY THAT YOU MIGHT
NEED NOW AND MOVING FORWARD?
THOSE APPS THAT COULD BE PLUGGED
INTO YOUR PLATFORM THAT WILL
SUPPORT YOUR BUSINESS.
THAT'S ANOTHER CRITICAL ASPECT
OF THAT.
IS YOUR PLATFORM REALLY EASY TO
CHANGE AND SET UP?
E-COMMERCE IS FAST.
IT'S A FAST TYPE OF INDUSTRY AND
CHANGES OCCUR ALL THE TIME, SO
YOU NEED TO MAKE SURE YOUR
PLATFORM IS ABLE TO DO THAT.
ULTIMATELY WHAT YOU WANT TO DO
IS TRY TO AVOID WE PLATFORMING.
REPLATFORMING IS SWITCHING FROM
ONE PLATFORM TO ANOTHER AS YOU
GROW.
THAT USUALLY TAKES A LOT OF TIME
AND EFFORT AND MONEY.
SO IF YOU CAN AVOID THAT, THAT'S
GREAT.
SO REALLY LOOKING AT YOUR
BUSINESS MOVING FORWARD, LOOKING
AT YOUR BUSINESS MODEL AND
MAKING SURE THAT YOU SELECT THE
PLATFORM THAT'S BEST FOR YOU NOW
AND IN THE FUTURE JUST WOULD BE
REALLY PRACTICAL AND THE BEST
ADVICE THAT I CAN GIVE TO
SELECTING THE PLATFORM.
>> OKAY.
THIS NEXT QUESTION COMES TO US
FROM KRISTIN.
KRISTIN IS LETTING US KNOW THAT
SHE'S A MANUFACTURER THINKING
ABOUT SELLING DIRECT TO
CONSUMERS ONLINE.
SHE'S WORRIED ABOUT DISRUPTING
HER WHOLESALE RELATIONSHIP.
DO YOU HAVE ANY ADVICE FOR
KRISTIN?
>> SURE.
A LOT OF MANUFACTURERS ARE
THINKING ABOUT SELLING DIRECT TO
CONSUMERS ONLINE RIGHT NOW.
FIRST OF ALL, THESE
MANUFACTURERS NEED TO MAKE SURE
THEY HAVE A VIABLE
CONSUMER-RELEVANT PRODUCT
SOLUTION.
MAKE SURE YOU HAVE A PRODUCT
CONSUMERS WILL BUY DIRECT.
THE SECOND STEP IS TO CLEARLY
DEFINE A CHANNEL STRATEGY AND
KNOW HOW YOU WANT TO SEPARATELY
DEAL WITH YOUR WHOLESALE CHANNEL
AND YOUR RETAIL CHANNEL TO
CONSUMERS.
AND THEN INTEGRATE THE TWO SO
THAT THE DIRECT TO CONSUMER
CATEGORY ISN'T UPSETTING YOUR
WHOLESALE CORE CHECK CHANNEL.
AND I'D LIKE TO MENTION THE
DIRECT-TO-CONSUMER SALES, THE
ACTUALLY SALES AND GROWING SALES
THROUGH A DIRECT-TO-CONSUMER
CHANNEL MAY NOT BE YOUR TOP
PRIORITY AS A MANUFACTURER.
A MANUFACTURER MAY HAVE
CONSIDERED COLLECTING THAT
INFORMATION AS THEY GET FROM A
DIRECT-TO-CONSUMER CHANNEL AS
MORE IMPORTANT.
SO GENERATING ADVANCED ANALYTICS
FOR A PRODUCT AND MERCHANDISING
INNOVATION THAT WILL ACTUALLY
HELP YOUR RETAIL CUSTOMERS IN
THE LONG RUN.
KEEP IN MIND THAT THE STRONGER
EMPHASIS YOU PLACE, THE GREATER
THE CHANNEL CONFLICT YOU'LL HAVE
WITH YOUR WHOLESALERS.
OTHER SUGGESTS TO ENSURE YOU
DON'T DISRUPT YOUR RELATIONSHIP
IS DIFFERENTIATING YOUR PRODUCTS
THROUGH THE D-TO-C, THAT MIGHT
BE A BROADER ONE, FOR INSTANCE,
OR SOME UNIQUE ASSORTMENT LIKE
COMBINING, MAKING A KIT OF
MULTIPLE PRODUCTS.
PRICING THAT DOESN'T CONFLICT
WITH YOUR WHOLESALE CHANNEL, AND
THEN PARTNERING WITH YOUR
RETAILER, YOUR WHOLESALE
CUSTOMERS, BY INCLUDING STORES
OR DISTRIBUTORS FEATURE ON YOUR
SITE.
AND THEN USING WHAT YOU LEARNED
FROM YOUR DIRECT-TO-CONSUMER
BUYING EXPERIENCE TO IMPROVE
YOUR BUSINESS-TO-BUSINESS
PURCHASING PROCESS.
FINALLY, IT'S REALLY IMPORTANT
TO SHARE YOUR DIRECT-TO-CONSUMER
CLIENTS WITH YOUR WHOLESALE
CUSTOMERS SO THEY UNDERSTAND
THAT THERE IS NOT A CONFLICT
THERE.
>> OKAY.
NEXT QUESTION.
THIS COMES TO US FROM MATTHEW.
MATTHEW'S ASKING WHAT IF YOUR
SITE FOCUSES ON SERVICES RATHER
THAN PRODUCTS?
>> HI.
SO I THINK WHETHER YOUR BUSINESS
IS A PRODUCT OR SERVICE, YOU
STILL NEED TO PROVIDE AN
EXCELLENT CUSTOMER EXPERIENCE TO
YOUR CUSTOMERS.
YOUR LEFT SIDE SHOULD BE CLEAR
IN TERMS OF THE OFFERING YOU'RE
PROVIDING, A SEAMLESS CHECKOUT
EXPERIENCE AND CUSTOMER SUPPORT
ONLINE AND EVEN AFTER THE
POST-PURCHASE EXPERIENCE OR
AFTER THEY LEFT YOUR WEBSITE.
REGARDLESS OF WHETHER IT'S A
SERVICE OR A PRODUCT-ORIENTED
BUSINESS, CERTAINLY EXCELLENCE
IN CUSTOMER SERVICE IS GOING TO
BE KEY TO YOUR SUCCESS.
>> ALL RIGHT NEXT QUESTION, THIS
COMES TO US FROM TAMI, HOW DOES
THE SHIP-TO-STORE LOOK IF YOU
DON'T HAVE A STORE?
>> THAT'S A GOOD QUESTION.
REGARDLESS OF WHETHER YOU HAVE A
PHYSICAL STORE PRESENCE OR NOT,
YOU CAN CERTAINLY WORK WITH YOUR
SHIPPING PROVIDER AND THE RETAIL
NETWORKS THEY HAVE IN PLACE IN
ORDER TO DIRECT SHIPMENTS TO AND
FROM YOUR CUSTOMERS.
YOU CAN ENCOURAGE YOUR CUSTOMERS
TO SHIP DIRECTLY TO THOSE
LOCATIONS AT THE POINT OF
PURCHASE OR YOU CAN WORK WITH
THEM TO INTEGRATE IT INTO THE
NOTIFICATIONS ALONG THE DELIVERY
JOURNEY.
>> OKAY.
A QUICK FOLLOW-UP FROM TAMI.
ASKING IF YOU COULD ELABORATE ON
WHAT YOU MEAN BY THE USE OF A
THIRD-PARTY FOR RETURNS.
>> SO A LOT OF THE SHIPPING
PROVIDERS WILL HAVE PARTNERSHIPS
WITH DIFFERENT RETAIL OUTLETS,
WHETHER THEY'RE CONVENIENCE
STORES, PHARMACIES,
SUPERMARKETS, ET CETERA, THAT
ARE THE DROP-OFF AND PICKUP
POINTS.
THEY ALL HAVE A DIFFERENT
NETWORK OF PARTNERS THEY WORK
WITH.
>> OKAY.
THIS NEXT QUESTION IS FROM
TANIKA ASKING WHAT SHOULD A
BUSINESS CONSIDER WHEN WANTING
TO EXPAND TO HAVING A WAREHOUSE
SPACE TO FULFILL MORE ORDERS?
>> I THINK A REALLY IMPORTANT
CONSIDERATION WHEN DECIDING TO
MOVE YOUR INVENTORY FROM, SAY,
YOUR HOME OR A SINGLE PLACE, A
FOUR CENTER, IS THAT YOU
UNDERSTAND THE OPPORTUNITY COSTS
INVOLVED THERE, THAT YOU MAY BE
PACKING AND SHIPPING YOURSELF,
INSTEAD OF FOCUS ON GROWING YOUR
BUSINESS, FOR INSTANCE.
SO I THINK A CRITICAL FACTOR IS
LOOKING AT THAT OPPORTUNITY
COST.
ALSO, USING A FULFILLMENT
CENTER, ANOTHER IMPORTANT THING
IS THAT IF YOU HAVE PEAKS IN
YOUR BUSINESS AND DON'T USE THE
FULL SPACE YOU'RE RENTING, A
FULFILLMENT CENTER, YOU'LL BE
ABLE TO SAVE COSTS ON THAT
BECAUSE THE FULFILLMENT CENTER
CAN GROW AND GROW DOWN AS YOUR
PEAK PERIODS HAPPEN.
>> OKAY.
NEXT QUESTION, WHAT ADVICE DO
YOU OFFER IN OBTAINING CAPITAL
FOR NEW BUSINESS THAT IS
STARTING UP, ESPECIALLY IF
FINANCING IS VERY LIMITED?
>> SO THIS IS A QUESTION THAT A
LOT OF INDIVIDUALS HAVE THAT WE
SEE EVERY DAY.
THERE ARE NONTRADITIONAL WAYS OF
GETTING FUNDING.
OBVIOUSLY, MOST OF THE
BUSINESSES TRY TO GET FUNDING
THROUGH PROGRAMS SUCH AS
KICKSTARTER.
THERE ARE PLENTY OF
NONTRADITIONAL COMPANIES OUT
THERE THAT ARE STARTING TO OFFER
CAPITAL OPPORTUNITIES BY HAVING
INVESTMENTS INTO THE BUSINESS.
THEY HAVE VARIED TYPES OF
TIE-INS TO THE BUSINESS AND ITS
SUCCESS.
THIS IS OUTSIDE OF THE
TRADITIONAL BANKING ARENA.
NOW, THERE ARE OPTIONS,
ESPECIALLY TODAY, WHERE BANKS
ARE STARTING TO LOAN FOR A LOT
OF THESE SMALL E-COMMERCE
STARTUP BUSINESSES.
MY ONLY RECOMMENDATION TO YOU IS
TO LOOK OUT THERE IN THE
MARKETPLACE AND LOOK FOR THINGS
THAT CAN ALIGN WITH THE TYPES OF
CAPITAL THAT YOU NEED AND THE
TYPES OF RESOURCES YOU WANT TO
HAVE AVAILABLE TO GROW YOUR
BUSINESS.
>> OKAY.
THIS NEXT QUESTION HERE COMES
FROM LISA.
THIS NEXT QUESTION COMES TO US
FROM LISA ASKING CAN A
FULFILLMENT CENTER BE USED FOR
PERISHABLE ITEMS THAT NEED TO BE
CREATED, SHIPPED, AND RECEIVED
ON THE SAME DAY?
>> THERE ARE DEFINITELY
PERISHABLE SHIPPING WAREHOUSES
THAT DO PROVIDE NEXT-DAY OR A
TWO-DAY DELIVERY.
SOME OF THESE ARE PIVOTING INTO
SAME DAY, OBVIOUSLY, WITH THE
EXPANSION OF GROCERY AND
SAME-DAY DELIVERY IN THAT SPACE.
THESE WAREHOUSES AND THESE
FULFILLMENT CENTERS ARE STARTING
TO OFFER THOSE SAME-DAY
SOLUTIONS.
TYPICALLY WE FOUND THE NEXT DAY
TENDS TO BE THE TYPES OF
SOLUTIONS THAT MOST CUSTOMERS
ARE LOOKING AT.
I THINK DANNY STARTED PERISHABLE
SHIPPING SOLUTIONS, AND I KNOW
THAT HIS MODEL SPECIFICALLY HAS
PERISHABLE WAREHOUSES IN BOTH
THE EAST COAST AND THE WEST
COAST IN ORDER TO HAVE TWO-DAY
SHIPPING AVAILABLE FROM ANYWHERE
PRETTY MUCH IN THE UNITED STATES
FROM THOSE TWO WAREHOUSES.
AS WE SEE PERISHABLES STARTING
TO GROW AS FAR AS A CONSUMABLE,
WE'LL PROBABLY SEE THAT SHRINK
DOWN TO ONE-DAY AND, IN SOME
CASES, SAME-DAY GIVEN THE TYPES
OF BUSINESS MODELS THAT ARE OUT
THERE.
BUT DEFINITELY IF YOU'RE IN A
PERISHABLE SPACE AND YOU'RE
LOOKING TO HAVE VERY QUICK
DELIVERY, I WOULD LOOK AT SOME
OF THESE THIRD-PARTY FULFILLMENT
SOLUTIONS THAT FOCUS ON
PERISHABLES BECAUSE THEY ARE
GROWING.
AGAIN, A LOT OF THOSE ARE BASED
ON SHARED SPACE WITHIN THESE
SOLUTION PROVIDERS.
>> OKAY.
THIS NEXT QUESTION COMES TO US
FROM JILL.
THIS IS REGARDING THE FUNDING
AND INVESTORS QUESTION THAT WE
PREVIOUSLY WENT OVER.
JILL WANTS TO KNOW IF YOU COULD
JUST GET A LITTLE MORE SPECIFIC
AROUND THE FUNDING AND INVESTOR
QUESTION.
SHE'S JUST CONCERNED ABOUT
FUNDING OPTIONS THAT COULD
POTENTIALLY BE SCAMS AND WOULD
JUST LIKE MORE CLARITY ON THAT.
>> WELL, WHAT I'M TRYING TO
SHARE WITH YOU ARE SOME GENERAL
MARKET OPTIONS THAT WE HAVE SEEN
WITH SOME OF OUR CUSTOMERS.
I'LL THROW OUT AN EXAMPLE, A
NONTRADITIONAL ONE LIKE CABBAGE.
THAT IS A TYPE OF COMPANY THAT
DOES PROVIDE CAPITAL INVESTMENT,
AND IT DOES, YOU KNOW, SUPPORT
THE SMALL BUSINESS.
IT IS A DIFFERENT MODEL THAN YOU
MIGHT NORMALLY FIND.
AGAIN, THE ADVICE IS, WITHOUT
TRYING TO ACTUALLY SHARE OR
RECOMMEND SPECIFIC OPTIONS
BECAUSE YOUR SITUATION MIGHT BE
VERY UNIQUE, IS TO DO YOUR
RESEARCH ON THOSE FUNDING
OPTIONS.
ONE OF THE BIGGEST THINGS WE
RECOMMEND IS THAT YOU TALK TO
OTHER SMALL BUSINESSES THAT HAVE
ACTUALLY GONE THROUGH THE
PROCESS OF SECURING FUNDING.
CERTAINLY THERE IS NETWORKS OF
SMALL BUSINESSES OUT THERE,
OBVIOUSLY SCORE IS ONE OF THEM.
WHEN YOU HAVE CONVERSATIONS WITH
OTHER COMPANIES THAT HAVE
SECURED CAPITAL FUNDING THROUGH
OTHER SOURCES, WE CAN GO AHEAD
AND PURSUE THAT.
>> WELL, NEXT QUESTION IS FROM
JASON, ASKING HOW DO YOU HANDLE
THE INTERNATIONAL SHIPPING SPEED
AND COST TRADEOFF?
IS TWO-DAY SHIPPING STILL
POSSIBLE.
>> YEAH, GOOD QUESTION.
I THINK, AGAIN, IT'S REALLY
IMPORTANT TO HAVE OPTIONS AND
PROVIDE THOSE OPTIONS TO YOUR
CUSTOMERS.
CERTAINLY THERE'S A TIME AND
NEED FOR WHEN SPEED IS GOING TO
BE REQUIRED IN TERMS OF THE
VALUE OF THE ITEM BOTH FROM THE
DOLLAR VALUE OF THE ITEM AS WELL
AS THE VALUE IN TERMS OF HOW THE
CUSTOMER PERCEIVES THAT VALUE.
AND SO THE MOST IMPORTANT THING
IS TO WORK WITH YOUR SHIPPING
PROVIDERS AND UNDERSTAND THE
DIFFERENT OPTIONS THEY HAVE
AVAILABLE, AND REALLY HAVE A
GOOD PORTFOLIO OF OFFERINGS TO
YOUR END CONSUMERS BECAUSE THERE
WILL BE A TIME AND PLACE WHERE
YOU NEED THINGS TO BE FAST.
CERTAINLY THERE WILL BE A TIME
AND PLACE WHERE THEY'LL EXPECT A
SERVICE AND TRADEOFF FOR A
CHEAPER PRICE FOR THEIR
INTERNATIONAL NEEDS.
>> OKAY.
NEXT QUESTION FROM JOHNSON
ASKING WHAT DIFFERENCE DO YOU
MAKE BETWEEN E-COMMERCE OF LARGE
COMPANIES AND SMALL BUSINESSES?
>> SO THE SMALL E-COMMERCE
BUSINESSES, OBVIOUSLY, THEY ARE
COMPETING WITH THE LARGER ONLINE
RETAILERS.
THEIR RESOURCES ARE LIMITED IN
SOME CASES.
THE OTHER THING IS THAT THEY
USUALLY HAVE LIMITED -- YOU
KNOW.
THE OWNER IS TRYING TO HANDLE
EVERYTHING AND THEY'RE TRYING TO
SCALE FASTER.
THE RESOURCES ARE LIMITED AND
YOU'RE TRYING TO SCALE FAST.
A LOT OF E-COMMERCE BUSINESSES
ACTUALLY DO VERY WELL EARLY ON.
WHEN THEY HIT THAT TIPPING POINT
OF STARTING TO SCALE UP, THERE'S
A LOT OF DIFFERENT TYPES OF
THINGS THAT NEED TO BE APPLIED
TO THE BUSINESS TO ACTUALLY HELP
IT GROW.
THIS IS WHERE IT'S REALLY
IMPORTANT TO LEVERAGE TECHNOLOGY
AND REALLY HAVE THAT TECHNOLOGY
HELP GROW YOUR BUSINESS, CREATE
EFFICIENCIES SO YOU CAN COMPETE
WITH A LARGER RETAILER.
USUALLY LARGER RETAILERS WHEN
THEY'RE NATIONWIDE, THEY HAVE
THE ABILITY TO HAVE PRODUCTS
LOCATED ACROSS THE COUNTRY.
THEY HAVE A LOT MORE RESOURCES
TO APPLY FOR MARKETING
PERSPECTIVE AS WELL FOR CUSTOMER
ACQUISITION.
FROM A SMALL CUSTOMER
PERSPECTIVE, YOU REALLY HAVE TO
BE MORE NIMBLE AND KNOW YOUR
AUDIENCE.
YOU HAVE TO LEVERAGE YOUR DATA.
THE EMPHASIS I WOULD HAVE IS
LEVERAGE TECHNOLOGY AS MUCH AS
YOU CAN.
TECHNOLOGY IS REALLY A GREAT
EQUALIZER FOR COMPETING WITH
LARGER E-COMMERCE BUSINESS.
>> JUST TO ADD ON TO THAT, THE
LARGE BUSINESSES TYPICALLY HAVE
TO DEAL WITH LEGACY SYSTEMS.
THE SMALL BUSINESSES HAVE THAT
NIMBLENESS AND USING THAT
TECHNOLOGY TO BE NIMBLE IS AN
IMPORTANT WAY TO COMPETE.
>> ALL RIGHT.
NEXT QUESTION IS FROM IDRIS
ASKING HOW DOES A LOCAL BUSINESS
NAVIGATE OPPORTUNITIES IN AN
INTERNATIONAL MARKET THROUGH
EXPORTING?
WHAT STEPS CAN ONE TAKE TO BREAK
IN?
>> FIRST OF ALL, I THINK MOST
E-COMMERCE COMPANIES THAT GO
INTERNATIONAL DISCOVER WHICH
COUNTRY TO GO TO NEXT BECAUSE
SOMEONE BUYS ON THEIR U.S. SITE.
SO YOU MIGHT WANT TO THINK ABOUT
WHERE PEOPLE ARE SHOPPING FROM,
AND THEN STUDY THOSE COUNTRIES
THESE SHOPPERS ARE COMING FROM
AND DECIDE -- LOOK AND SEE HOW
ACCEPTABLE YOUR PRODUCT WILL BE
IN THAT COUNTRY, UNDERSTAND WHAT
THE KEY E-COMMERCE ENVIRONMENT
IS OF THAT COUNTRY, UNDERSTAND
THE SHIPPING AND DELIVERY ROUTE,
GETTING STUFF TO THAT, AND LOOK
CAREFULLY COUNTRY BY COUNTRY AS
TO THE OPPORTUNITIES.
>> ALL RIGHT.
NEXT QUESTION IS FROM KATHLEEN.
KATHLEEN IS ASKING WOULD IT BE
DIFFICULT TO START AT HOME AND
THEN MOVE TO A FULFILLMENT
CENTER?
SHE MENTIONED HER BUSINESS IS A
T-SHIRT BUSINESS, NEWLY STARTED.
>> WELL, WOULD IT BE DIFFICULT?
NO.
ACTUALLY, THAT'S A LOT OF WHAT
WE SEE FROM OUR ENTREPRENEURS ON
A DAILY BASIS.
THEY START AT HOME.
IT COULD BE T-SHIRTS, IT COULD
BE ALMOST ANY TYPE OF PRODUCT.
AGAIN, THE MOST IMPORTANT THING
IS THAT THEY'RE SELLING ONLINE,
THEY HAVE A CHANNEL FOR WHICH TO
SELL THAT FROM.
THEY CAN START ON A MARKETPLACE
OR THEY CAN ACTUALLY HAVE THEIR
OWN WEBSITE.
AS SOON AS THEY START SCALING,
THAT'S WHEN YOU START LOOKING AT
DIFFERENT OPTIONS.
MANY ENTREPRENEURS WE'VE SPOKEN
TO, WHEN THEY DO GET TO A
CERTAIN SIZE, THEY MIGHT FIND IT
MORE EFFICIENT TO OUTSOURCE TO A
FULFILLMENT CENTER.
AGAIN, IT WOULD DEPEND ON THE
MODEL AND THE PRODUCT YOU'RE
SELLING, HOW FAST YOUR BUSINESS
IS GROWING, THE AMOUNT OF
INVENTORY THAT YOU HAVE.
BUT I WOULD SAY THAT IF YOU ARE
INTERESTED IN STARTING YOUR
BUSINESS AT HOME, I WOULD
ACTUALLY JUST GO FOR IT, GET
SUCCESS, AND THEN AS YOUR
BUSINESS STARTS TO SCALE, START
TO LOOK AT THE DIFFERENT OPTIONS
THAT BEST SUIT YOUR BUSINESS.
>> AND YOU CAN CONSIDER A
COMPANY WITH TWO OR MORE
FULFILLMENT LOCATIONS AND SAVE
ON YOUR SHIPPING AS A RESULT OF
THAT AND DELIVER ON THE TWO-DAY
COMMITMENT BECAUSE THEY'RE IN
DIFFERENT PARTS OF THE COUNTRY.
>> OKAY.
NEXT QUESTION.
THIS IS FROM SHERRY ASKING WHEN
DOES A FEDEX GRANT OPPORTUNITY
OPEN IN 2020?
>> THE FEDEX SMALL BUSINESS
GRANT CONCEPT WILL OPEN FOR
ENTRY LATE JANUARY.
>> OKAY.
NEXT QUESTION IS FROM AS MEAN
ASKING HOW CAN ONE USE
E-COMMERCE FOR B2B BUSINESS?
>> B2B E-COMMERCE IS ACTUALLY
GROWING QUITE A BIT.
IT IS A DIFFERENT TYPE OF
ENVIRONMENT.
THE REASON IT'S GROWING IS THAT
AS CONSUMERS, WE'RE ALL
EXPERIENCING THAT EASE OF BUYING
THROUGH AN ONLINE SITE.
A PURCHASING AGENT AT A CHENEY
NOW WANTS TO HAVE THAT SIMILAR
EASY EXPERIENCE OF BUYING
ONLINE.
SO B2B COMPANIES ARE MORE AND
MORE GOING ONLINE.
BUT SOME THINGS YOU NEED TO TAKE
INTO CONSIDERATION ON A B2B
E-COMMERCE SITE IS
CUSTOMIZATION, SPECIFICATIONS,
THE CONTENT HAS TO BE MUCH MORE
THOROUGH.
YOU MAY HAVE TO DEAL WITH
CONTRACT PRICING.
SO IT IS A DIFFERENT ANIMAL, BUT
IT IS INCREASING IN USAGE.
>> OKAY.
NEXT QUESTION IS FROM ALLEN.
CAN YOU TALK A LITTLE BIT ABOUT
WHAT MAY BE THE BEST WAY TO
DETERMINE SHIPPING COSTS OR
ESTIMATED SHIPPING COSTS FOR THE
NEXT YEAR?
>> I WOULD SAY THE BEST WAY TO
ESTIMATE SOME OF YOUR SHIPPING
COSTS FOR THE NEXT YEAR IS TO
HAVE A GOOD UNDERSTANDING OF
WHAT YOU THINK YOUR SALES ARE
GOING TO BE.
THAT'S REALLY GOING TO DRIVE
WHAT THE SHIPPING COSTS ARE.
FROM THERE I WOULD SAY TAKE A
LOOK HISTORICALLY AT WHERE
YOU'RE SEEING PURCHASES HAPPEN
FROM, AND THEN YOU CAN KIND OF
GET A GOOD IDEA OF UNDERSTANDING
OR FORECASTING OUT WHERE THEY'RE
GOING TO IN THE COMING YEAR.
YOU CAN WORK WITH YOUR SHIPPING
PROVIDER TO GET ESTIMATED RATE
QUOTES AND THOSE KINDS OF THINGS
FROM CERTAIN ORIGINS AND
DESTINIES, AND THAT WILL HELP
YOU FORECAST.
IT'S A COMBINATION OF
UNDERSTANDING HISTORICAL
PATTERNS THAT YOU SEE AND
APPLYING THAT TO FUTURE SALES
PROJECTIONS ALONG WITH ESTIMATED
RATE QUOTES ON SOME OF THOSE KEY
LANES THAT MAY BE WHERE YOUR
CUSTOMERS ARE.
>> YOUR SHIPPING CARRIER CAN
HELP YOU CAN HELP YOU MAKE SURE
YOU USE THE RIGHT-SIZED
PACKAGING FOR DIMMING.
>> WE HAVE TIME FOR ONE LAST
QUESTION HERE.
THIS ONE COMES TO US, ASKING
WHAT YOUR ADVICE IS FOR
E-COMMERCE COMPANIES THAT SOURCE
FROM A DIFFERENT COUNTRY.
WHAT ARE THE KEY CHALLENGES ONE
SHOULD BE PREPARED TO ADDRESS?
>> SO SOME ADVICE FOR SOURCING
FROM A DIFFERENT COUNTRY,
CERTAINLY YOU NEED TO LOOK AT
WHAT TYPE OF MANUFACTURE YOU
HAVE OVERSEAS AND HOW YOU'LL BE
GETTING THOSE ITEMS IMPORTED
INTO THE U.S.
THERE ARE A LOT OF DIFFERENT
MANUFACTURERS.
ONE OF THE THINGS THAT SOMETIMES
OCCURS IS YOU DON'T PICK THE
RIGHT MANUFACTURER OVERSEAS, YOU
MAY HAVE ISSUES WITH REGARDS TO
QUALITY AND ALSO JUST PRICE OF
GOODS AND UNFORESEEN COSTS.
SELECTING THAT MANUFACTURER
OVERSEAS AND SOURCING THAT
PRODUCT IS CRITICALLY IMPORTANT.
>> I WOULD ALSO ADD TO THAT THAT
ONE OF THE MOST IMPORTANT THINGS
TO UNDERSTAND ARE THE TAXES AND
WHOSE RESPONSIBILITY IS IT TO
PAY THAT, THE VENDOR OR THE
RECIPIENT, BECAUSE SOMETIMES IT
ENDS UP BEING A SURPRISE AND YOU
DON'T WANT THAT.
>> SO THOSE ARE ALL THE
QUESTIONS THAT WE HAVE TIME FOR
IN THIS LIVE SESSION.
WE HAVE RECORDED THIS WEBINAR
AND IT CAN BE VIEWED AT A LATER
TIME THROUGH THE PLATFORM YOU
ARE LOGGED INTO AS WELL AS ON W
.
LADIES AND GENTLEMEN, ON ON
BEHALF OF SCORE AND FEDEX, I'D
LIKE TO THANK YOU FOR ATTENDING
THIS WEBINAR.
A VERY BIG THANK YOU TO THE
FEDEX PANEL FOR PRESENTING AS
WELL.
THANK YOU SO MUCH.
PLEASE JOIN US FOR ONE OF THE
NEXT WEBINARS TAKING PLACE IN
JUST 15 MINUTES.
DURING THE BREAK WE HOPE YOU'LL
ENJOY THE VIRTUAL CONFERENCE
ENVIRONMENT BY TALKING WITH A
MENTOR IN THE MENTORING HALL AND
NETWORKING WITH THE BUSINESS
OWNERS IN THE NETWORK LOUNGE,
CHATTING WITH INDUSTRY EXPERTS
AND TAKING UP FREE BUSINESS
RESOURCES IN THE EXHIBIT HALL.
THANK YOU ALL SO MUCH AND WE'LL
SEE YOU ON THE NEXT WEBINAR.
................
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