So you want to start an ecommerce business as a complete beginner but don’t know exactly how to go about it, right?
Whether you are confused about websites, finding winning products, marketing, and sales tactics, hiring a team, legal procedures to registering your business, or what ecommerce business model to adopt, we’ve got you covered.
Read along to make sure you’re taking the right steps towards running a successful ecommerce business.
How to Find a Market you Can Sell to Online
”Amazing things will happen when you listen to the customer” – Jonathan Midenhall
You know why the internet is littered with corpses of over a billion failed ecommerce websites?
People are selling what others don’t want. Heck, many business owners hate working on their businesses.
Running a business is much an experience, a service and product, to you as it is to your customer. If you don’t have some sort of connection to your business that surpasses just making money for its sake, you won’t be strong enough to weather the storm of entrepreneurship that’s surely coming your way.
But don’t be scared, you have it in you to win, you just haven’t realized it yet. Doubt me? Okay see…
Your business could help provide extra income for you and your family in these unprecedented times. That connection and duty to serve your family, is the motivation you need. Passion for your business could be another connection to help you do what’s necessary to succeed. Being tired of being at another human being’s mercy could be it for you.
Let one of those emotional subjects drive you. With that said, find a hungry market. It’s simply a group of people that have a problem you can solve. It would be better if that service or product is connected to your hobby or passion. A hobbyist writer can offer content writing services to companies on the internet.
How to Find Products to Sell Online
As we discussed above, if your passions are aligned with the problems companies need online, then you could sell that as a service or product. Someone who likes woodworking, could sell crafts to wood enthusiasts through their ecommerce store or marketplace.
But services and products don’t have to be about writing and crafting. There are many ecommerce business models out there to explore and adopt. For example, the woodworker could decide to sell woodworking tools through affiliate partnerships to fellow woodworkers that follow him.
A writer could do the same, by selling tech writing tools to blog readers who are aspiring writers themselves. A software engineer could create a Software as a Service company to help make business processes easier for a certain industry eg Online Marketing (HubSpot)
And if you’re just passionate about commerce, you could use the numerous online marketplaces to buy products on the cheap on one platform and resell at a higher price on another. This is known as ecommerce arbitrage. You could also decide to dropship products through a website store of your own if you don’t want to deal with inventory.
How to Setup Your Website and Register Your Business
Depending on what type of ecommerce business you want to start, there are many ways to create and launch your website online.
If you’re more of a service provider and freelancer, go for websites that have the drag and drop feature for an easy experience.
Affiliate marketers and content creators should use something with a content management system that gives its users the most customization options. They just have to find good themes for an attractive website design.
Register your business as a corporation preferably a C corporation to take advantage of the tax benefits associated with such companies.
How to Run Profitable Sales and Marketing Campaigns
Once you have your website set up and your business registered, plan out a paid and/or organic marketing strategy.
Organic content marketing is best suited for affiliate marketers and store owners on a budget with free time on their hands. Freelancers can start cold pitching their prospects through email.
If you have funds and a stomach to lose a chunk of it before you actually make a profit, go with paid marketing strategies.
Another thing to consider is buying a small profitable ecommerce business on online marketplaces. You can bypass all the grunt work of starting a profitable business, and now have a system that works.
How to Iterate and Optimize Business Strategies
Business strategies and tactics will always change because the human condition is always changing. Keep tabs on marketing metrics and sales statistics to monitor the health of your business. Execute your ideas and watch to see what works. Then do more of what works while shutting down failed experiments.
Your Time Starts Now…
Don’t wait another minute, spend the next hour selecting your niche and a business model that suits you. And start setting up your website. Make an effort towards your ecommerce business everyday and soon you’ll have a successful one.