Is it possible to run an e-commerce business while you’re traveling? With the many innovative online solutions out there, the answer is a definite yes. Remote work is no longer limited to freelancers and ordinary rank-and-file office workers. Those who run small- and medium-sized enterprises (SMEs) or startups that are mostly e-commerce-based are also free to pursue their entrepreneurial interests
alongside their passion for traveling.
With the right preparation and online tools at your disposal, you too could be jet-setting your way around the world while keeping your e-commerce business running smoothly. Here are just a few essential tips to help you manage your daily operations from wherever you are in the world:
1) Install a Payment Gateway Solution on Your E-commerce Website
A payment gateway is a secure online service that facilitates the authorization and processing of electronic payment transactions. They allow businesses to accept payments from customers through various digital channels, such as websites or mobile apps.
According to Statista, in a country like the Philippines, e-wallets are the preferred payment method when it comes to e-commerce at a noteworthy 31 percent. Card-based payments are a close second at 27 percent. If you’re a traveling e-commerce entrepreneur from this side of Southeast Asia, you should
consider the most flexible and robust options when deciding on the best payment gateway Philippines solution. Innovative financial technology companies like Maya Business offer solutions like Maya Checkout, which is perfectly tailored to the needs of SMEs and startups.
Well before you start traveling, you’ll want to ensure that your website is equipped with the best payment gateway for secure and reliable payment processing. Doing so will keep your e-commerce business transactions running like clockwork, which will allow you to worry less about them when you’re on the move.
2) Use Online Banking Solutions
Thanks to online banking solutions, it’s also no longer as hard to manage your e-commerce finances while on the go. Choose a platform that can guarantee you real-time transaction tracking, extensive expense management features, and hassle-free fund transfers. These features should make it a breeze to stay on top of your business’s financial health while accommodating more travel into your lifestyle.
Since the COVID-19 pandemic, digital banking has been on the rise. Digital banks present an appealing alternative banking solution to tech-savvy customers who are done with the restrictive nature of commercial banking institutions. In a key report published by Bankrate, 60 percent of consumers say they are interested in digital banks, and 79.3 percent of millennials tend to be the most interested in digital banking.
There are a variety of reasons traveling entrepreneurs should consider opening a digital business bank account. For one, there are digital banks that offer zero-maintaining balance, which can free up an entrepreneur’s business budget and make them more flexible in general on the financial side. Next, bank transfers are typically free for digital banks, and the interest rate for business deposits is
significantly higher than the rates offered by traditional banks. Weigh the benefits of signing up for a digital bank account for your e-commerce business, as this is sure to complement your more frequent travels.
3) Consider Online Disbursement Solutions
You can also efficiently manage your vendor payments and employee salaries from any country in the world with a reliable online disbursement solution. Opt for a platform that offers secure and quick payouts, which will ensure smooth financial operations for your e-commerce business without you fearing penalties for delayed payments. Keep in mind that timely disbursements contribute towards maintaining positive relationships with your suppliers and collaborators, even when you’re miles away.
When choosing the online disbursement solution that fits your business best, consider its functionality. Choose one that can take care of your payroll with provisions for allowance and incentives. In addition, it should have convenient features for handling bank transfers and bill payments. These are some of the
most common transactions for businesses like yours.
4) Automate Tasks Whenever Possible
Automation is your most powerful ally for managing your e-commerce business remotely. Identify repetitive tasks such as order processing, inventory updates, and email responses, and see which one are best automated. Then, invest in user-friendly automation tools that cater to the specific needs of SME e-commerce businesses. This will allow you to focus on the strategic aspects of your venture while you’re also apportioning time for your travels.
In terms of finances, use the auto-debit feature of your credit card to pay for recurring subscriptions and utility bills. You can also use your disbursement account to set up scheduled payments, such as supplier payments and allowances for employees.
5) Partner with Reliable Warehouse and Fulfillment Centers
Outsource the complexities of storage and shipping logistics for your e-commerce business by partnering with reliable warehouse and fulfillment centers. Choose partners based on location, services offered, and cost-effectiveness. A strategic move like this one will allow you to ensure efficient order fulfillment while you’re traveling, leaving your logistics in capable hands.
Partnering with a reliable fulfillment center also allows you to focus on the development, marketing, and sale of your products. All of these processes can be done remotely, which fits nicely into your scheduled travel itinerary.
6) Outsource Your Tasks
You can further maximize your efficiency by outsourcing tasks that don’t require your direct involvement. Consider hiring virtual assistants or freelancers to handle customer service, content creation, or other time-consuming responsibilities.
Just be sure to find trustworthy and skilled professionals who can seamlessly integrate into your e- commerce business, and if you need to do interviews, reconfigure them so that they’re easier to hold in a remote setting.
7) Work Smarter with Productivity Apps and Other Online Tools
Lastly, be sure to enhance your e-commerce workflow while you’re abroad using productivity apps and online tools. You can explore project management tools, communication platforms, and collaborative apps that cater to the unique needs of traveling entrepreneurs like you. Find referrals for technologies that will make it easy for you to stay connected to your team and manage key tasks for your e-
commerce business in the most effortless manner.
It’s no longer within the realm of science fiction to manage a powerful online business while you’re thousands of miles and several time zones away. Use these tips to adopt a practical approach for running your e-commerce business—all while still getting to enjoy the freedom and flexibility that come with the lifestyle of a traveling entrepreneur.
