Feb 6, 20203 min read

7 Remarkably Easy Habits of Successful Merchants.

isabella ahmadi headshot

by Isabella Ahmadi

What’s the secret behind success in e-commerce? It may be simpler than you realise. Looking at seven habits that many outstanding merchants have in common, we find sparkling passion blended with carefully managed time and finances, plus a handful of mistakes thrown in along the way.

Many entrepreneurs have embarked on the quest to find the ultimate way to run their business. They invest their time and money in books, courses and mentors, and perhaps a few succeed. But as an online retailer, you can actually learn a lot simply from studying the habits of successful merchants in the e-commerce sector. Here are some of the common denominators of those who have made their way to the top.

1. Set clear goals

Constantly review and evaluate your business and set goals to direct your path. Both short-term and long-term goals are great to define. Be specific when penning down your goals. The clearer they are, the more helpful they will be in developing you and your business. And don’t forget to follow up on your progress!

2. Hail healthy routines

Many entrepreneurs create daily, weekly and monthly routines to become more productive and stable. But make sure you schedule time for work, sleep and leisure. Of course you want to focus hard on your thriving business, but don’t underestimate the importance of other values in life. Worst case scenario, overworking can lead to burnout and other mental and physical conditions.

3. Put yourself in the customer’s shoes

How do shoppers rate the customer experience in your online store? The better their perception, the more likely it is that they will return. Get into the habit of regularly scrutinizing your business from a customer’s point of view. Identify areas of improvement and unnecessary friction. Be critical and ask for other people’s opinions.

4. Time management

Utilize your time in the most efficient way. Are you the most alert in the morning? In that case, start early with the day’s most challenging task. Procrastination is a threat to most people’s workflows, and by carefully planning your day, chances are you’ll save yourself from putting off important jobs.

5. Allow yourself to fail

Maybe you don’t love the idea of failing. But actually, mistakes are a highly valuable way to learn. Finding out what doesn’t work sets you in the direction of what will work. It’s all about pushing yourself. Make sure you aim high and when you fall, you rise with new wisdom, stronger than ever.

6. Make the money count

Every penny counts, so be smart with your finances. Careless spending or an overly cheap attitude could strike you hard. Instead, try to squeeze as much value as possible out of every dollar spent. When setting a budget, add plenty of detail to help you plan and control your finances better.

7. And of course, cover the basics

Sleep, nutrition and exercise are important pillars in anybody’s life. But perhaps they are extra crucial when you are a high-aiming, hard-working entrepreneur. Sleep deprivation can have a negative impact on your effectiveness and decision making, so don’t skimp on the shuteye. And why not walk to work, or at least part of the way? It clears your mind and nurtures both your physical and mental health.

Make it even easier to succeed with an extraordinary partner

One of the main priorities for most merchants is to increase sales. Klarna is delighted to be able to help with that, offering shoppers seamless payment solutions that boost sales and build loyalty. Giving customers the flexibility and freedom they need, Klarna offers the option to pay later with no fees or interest. In addition, Klarna provides a world-class shopping experience to increase customer satisfaction. A remarkable 90% of users were satisfied when using Klarna. Wouldn’t be too bad to have such a high rate of happy shoppers, right?

Klarna knows there are risks out there for merchants. Fraud is one of them, which can lead to unplanned expenses you definitely want to avoid. Luckily, Klarna takes care of that worry by carrying the full risk while you get paid upfront.

Learn more about Klarna here.