Growing retailers often place companies like Amazon on a pedestal, strategizing about the hurdles necessary to overcome and place themselves amongst the upper echelon. But let’s be honest, comparing yourself to the Amazon of today is simply unrealistic – and will likely only frustrate you.
Every company reaches what I like to call a “tipping point.” Some hit it at the $20 million mark, some at the $50 million mark, others much later. This “tipping point” forces a company to evaluate their strategy and make a crucial decision: continue with the status quo, or adapt and dig in to their customer data to move that revenue needle forward. If you are like most growing companies, you are probably leaning more towards the latter, devising a plan to move beyond optimizing one-time transactions and entering the realm of sustainable revenue through retention.