How Can an E-commerce Business Stick to Their Debt Repayment Plan?

As an e-commerce business owner, it is undoubtedly a difficult task to complete the debt payoff plan, as it requires a great level of commitment. You can get easily discouraged as soon as you realize that you are going to take a lot of time for clearing all the debts. It is also not an easy task to stick to the payoff plan that you might have curated. However, if you do not invest in unnecessary things for your e-commerce business or you are dedicated to the plan that you have made, you can easily clear all your debts as time passes. If you do not have a proper idea as to how you can stick to the plan that you have made, you can consider the tips that have been mentioned below.

Ensure that the plan is proper and realistic

It becomes impossible to follow a plan that is not realistic. There are times when an e-commerce business owner overestimates the total amount that he is capable of paying or underestimates the total time that he is going to take for paying the amount. The plan that you start following right at the beginning of the debt journey might not work for your entire journey. It is crucial that you try to readjust your plans on the basis of the changes that can be spotted in your financial situation. This will further ensure that you have a proper plan for clearing all your debts.

You have to consider the sales and the money that your business is getting back from the sales. On basis of that, you need to calculate the total amount, which you are capable of putting forward towards the debt. It is your duty to pay more as and when possible. You can also use calculators for estimating the total time that you are going to take for clearing the debt altogether. According to experts, 50% of both big and small e-commerce businesses fail due to insufficient capital, and that is why they take loans.

Putting down your plan on a piece of paper

It is true that as the owner of an e-commerce business, you are going to have an extremely strong memory. However, it is not really easy to keep a record of all the business debts registered in your memory. You should try to put the plan down in a piece of paper, and ensure that it is revolving around your eyes. You can use sticky notes for this and stick the total amount that is pending in the different places, on your bulletin board.

Every time you look at the board for any important work, your eyes will go on the pending amount that you have to clear. Ensure that when you are making a plan, it is not too complicated, or it can lead to trouble and confusion. Whenever you are paying a certain portion of the money, you need to mention that as well.

Keeping track of the progress

It is obvious that the balances are going to go down every time you are making a payment towards all your debts. Keep in mind that the balances on the accounts that receive a minimum payment are going to go down only by a smaller amount every month. However, the debt that is going to receive a large payment is obviously going to go down much faster. You should feel good regarding the payments that you make, despite the fact that it is minimum for a large amount.

With each passing month, these payments are going to prove that your business is committed to paying off the debt first. Once every three or four months, it is important that you compare the current balances to the starting balance in order to evaluate the amount of debt that you have cleared. It is extremely important to keep patience, even if you see that you have not reached even halfway. Clearing all the debts of your e-commerce business is not really easy and you will eventually clear it all off. It is important to celebrate the progress that your business is making towards paying off the withstanding debts.

Paying more when possible

When you see that your business is bringing in more returns in a particular month, try to target one particular debt, and clear it off completely. This does not mean that you will neglect the other debts. The trick is to pay more to clear one debt and pay a minimum for the rest of the debts. If you continue doing this whenever you are getting more returns, all the debts will be cleared in no time. This is one of the most important tips that most of the e-commerce business owners tend to follow.

Do not be derailed by the setbacks

Almost all the e-commerce businesses go through ups and downs during the course of the business. A crisis situation may arise anytime and during this time you might only spend money in order to overcome the crisis situation. There is nothing to worry during these times as you can still pay a minimum amount for clearing off the debts. As soon as the crisis period is over, you can easily start making the regular debt payments as and when possible.

You also have the freedom of adjusting your payment plan if you feel that it is necessary for staying committed to the debt goal of your e-commerce business. You can go through the debt consolidation loan honest feedback that has been left behind by the other e-commerce business owners.

Ensure that you are not creating more debt

All e-commerce businesses require investments in order to flourish. However, if you decide to take more loans from the traditional institutions for investing in your business despite the fact that you already have too much debt to clear, this is definitely a wrong decision. You should not take loans until and unless all your debts are cleared.


Paying off all your debts can be an extremely crucial task especially with all the other things that you have to keep on your mind when you are handling your e-commerce business. However, with a proper dedication and discipline, you will be able to clear all of it within no time and start investing in your business once again.


Default Asked on November 26, 2018 in Businesses.
Add Comment
0 Answer(s)

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.