TEE #019 Beyond One Platform: The Importance of Diversification in E-commerce

Read time: 3 minutes

Last week, I faced one of my worse nightmares, my Facebook account was hacked.  It was super stressful and not something I would ever want to experience again.  It was a harsh but valuable lesson. It led me to an important realization that I feel compelled to share with all of you today - Never put all your reliance onto one platform to run your business.

In today's digital world, it's tempting to entrust our entire operation to a single platform. After all, it promises simplicity, organization, and a sense of control. However, as I discovered, this strategy also carries inherent risk. If that one platform fails, you don't just hit a speed bump; you crash into a wall.

The key, as with many aspects of business and life, is diversification. As the old saying goes, "Don't put all your eggs in one basket." In this case, it means spreading your business across multiple platforms. Not only does this decrease the risk associated with a single point of failure, but it also opens up opportunities to reach more potential customers.

Take a moment to think about the difference between a one-legged stool and a three-legged stool. While the one-legged stool might support you if you maintain perfect balance, the three-legged stool offers stability, even if one leg encounters an issue. Your business should be like that three-legged stool, standing firm despite the ups and downs.

One of the most effective strategies for achieving this diversification is by building an email list.   Imagine if your primary platform goes down, or in my case, gets compromised. How do you continue reaching your customers? An email list is your lifeline, a bridge that keeps you connected to your audience regardless of what happens to your social platforms.

Building an email list may seem like an old-school approach in this age of social media dominance, but its worth is gold. An email list is more than just a backup; it is a robust, direct, and personal way to keep your audience engaged, informed, and connected to your brand.

To sum it up, reliance on a single platform for running your business is a risky game. Diversifying your presence is not merely a protective measure against potential issues like hacking, it also opens up new avenues for growth. As digital entrepreneurs, we should aim for resilience and agility, prepared to adapt and continue reaching our audience, come what may.

I urge you to check out my free training on how to connect Aweber to your Etsy shop to start collecting email addresses from your customers. This is a simple, efficient way to grow your email list and start forming deeper connections with your customers. You can access the training here https://www.sj-lewis.com/etsy-email-marketing 

In conclusion, relying solely on one platform for running your business is akin to skating on thin ice. Diversification isn't just a buffer against potential mishaps like hacking; it's also a gateway to expansion and growth. As online entrepreneurs, we must aim for resilience and agility, ready to adapt and continue reaching our audience, come what may.

So, ask yourself this—Is your business overly dependent on one platform? If yes, it's time to diversify. Think beyond Facebook, beyond Etsy, beyond any single platform. The digital world is vast, offering myriad opportunities, and your business deserves to seize them all.

If you're still looking for traction in your Etsy business, I'd recommend starting with one of the following:

1. → My Free Etsy Workshop: Perfect for you if you are just starting out on Etsy. Learn how you can turn your creative passions into cash to earn your first £1000 on Etsy.

2. → Join my Free Community: Successful Etsy Entrepreneurs is a Facebook community filled with creative people just like yourself all looking to grow their inline businesses.

3. → Join my VIP Members: Successful Ecommerce Entrepreneurs for only £27 a month.  With my expert guidance and actionable strategies in my private membership, you'll gain the skills and knowledge you need to build a profitable and sustainable online business.