How do I start an eCommerce business comes up often in conversations on many blogs and at network events.
There are multiple tools available for anyone who wants to start an eCommerce business. However, all of them require some investment of your time or money before they become profitable ventures.
Are you ready to get started with your online business?
Top 7 Tips To Help Start Your eCommerce Business
1. What You Need To Start:
The most important tool in your arsenal is your ability to work well with others. Then, sharpen your knowledge about eCommerce marketing tips. You want to avoid any risks online that you can for your online business.
These days, customers are shopping online more than ever before, and they expect to be able to easily contact the business owner. They want questions answered about an order or return policy, etc.
What Is An eCommerce Business:
If you haven’t done it already, the first thing that must be established is what exactly an eCommerce business is.
Ecommerce businesses are those that sell their products and services through electronic channels such as websites, email, FTP sites, or mobile apps.
These services can include everything from selling tangible goods. For example, shoes or electronics to non-tangible services such as education and storage space rental.
An eCommerce business can be started for free (in some cases). Still, it will likely take a long time for you to generate enough income from sales fees.
That is unless you go the affiliate marketing route. An affiliate route requires money upfront but could also make you quickly profitable.An eCommerce business can be started for free (in some cases). Still, it will likely take a long time for you to generate enough income from sales fees. Click To Tweet
Find Your Niche To Start with Your eCommerce Business
You must decide what kind of eCommerce business you want to create. Not only that but how big you want it to grow.
And if you’re willing to put in the time and effort required to keep it afloat.
Selling Tangible Goods
The most prevalent type of eCommerce business is selling tangible goods such as electronics or clothing. If you choose to go with this business model, be sure that the items that you sell are either in high demand and low supply so you can maximize your profits.
But also so you don’t lose money on every sale. It is difficult to buy things in bulk and sell them at a high enough markup to make any significant income.
Selling Online Services
Selling services online is another popular way for people to start an eCommerce business. This business model has the potential of generating huge incomes if done correctly.
These types of businesses generally require less overhead than a merchandise-based company. However, they still require some initial investment from you before becoming profitable.
Depending on what exactly your service is, you may need to do some research on the best platforms for selling your service. An example of this would be if you were selling guitar lessons online.
It would probably be most profitable for you to use an established platform like Udemy or even YouTube rather than try to set up your own website and payment processing options for this option.These types of businesses generally require less overhead than a merchandise-based company. #onlineservices Click To Tweet
The last but certainly not least type of eCommerce business model is affiliate marketing. This is by far one of the easiest ways for people just getting started with their online business ventures to start making money quickly after their website goes live.
In this case, all that is required is that someone visits your website, purchases a product listed on your site (usually through an affiliate link), and then you get paid a percentage of the sale by that person’s affiliate company.
The best part about this is that you do not need to have a product of your own in order to make money through affiliate marketing.
All you need is a website to be built for free using WordPress or Wix. (However, I do recommend getting your own self-hosted website that YOU own!)
Of course, you will need the willingness to share the content with others in exchange for potential profits.The last but certainly not least type of eCommerce business model is affiliate marketing. #ecommerce Click To Tweet
Know The Potential Risks before You Start Your eCommerce Business
Now that you know what an eCommerce business entails, you’ll want to consider how big you want it to grow. There are some risks associated with each different approach.
Zero Investment Risk
For example, if you start an eCommerce company with no initial investment, it will be difficult for that company to grow very quickly. And even sustain itself for any significant length of time.
There is an old saying that it takes money to make money. You will need to invest some money to get your online business started.There is an old saying that it takes money to make money. #onlinebusiness Click To Tweet
Large Investment Risk
However, if you dive into the deep end with a large initial investment, you could see huge year-over-year returns, but there is also the risk of failing to meet your financial obligations.
Finally, of course, if things really don’t work out the way that you had planned, you can always sell your eCommerce business to someone else for a profit.
Partnering With An Individual Or Company
Nowadays, some people have even turned their existing brick-and-mortar businesses into profitable online companies. For example, by simply hiring an outside company or individual to take over the day-to-day operations.
At the same time, they focus on growing it from afar. Of course, this option isn’t available for everyone who has a physical storefront.
In short, each of these approaches comes with advantages and disadvantages, so it’s up to you to determine what path is right for your unique situation.
Choose A Domain Name And Web Host for Your Online Business
Once you have decided which type of eCommerce business model that you’d like to start, the next step is choosing a domain name. Then, a web hosting company to host your website.
These choices will be crucial because they will play a major role in how successful your site becomes in the long run.
Fortunately, there are countless numbers of high-quality, low-cost web hosts out there today. Hence, when it comes time to make this decision, you should avoid skimping on price in order to save money.
Do some investigation and find out what most other companies in your niche are doing when it comes to selecting reliable hosting services. Don’t make the mistake of assuming that your website will never get popular enough to exceed its hosting limits.These choices will be crucial because they will play a major role in how successful your site becomes in the long run. #domainname Click To Tweet
Build Your Website to Start Your eCommerce Business
Once you have selected a domain name and web host, it’s time to begin building your website using one of the many available eCommerce platform options. If this is your first eCommerce business venture, you should consider starting with something like Shopify or Wix.
BigCommerce because they are fairly easy for beginners to manage. Yet, they still provide all of the features that most businesses need these days in order to be successful. Also, don’t forget about SSL certificates.
Without SSL certificates, any personal information which gets collected on your site via online forms will not be encrypted, so take care of this as soon as possible if you want people to start trusting your company right from the start.
How To Attract Your Audience Online
Now that you have your eCommerce website up and running, it’s time to find a way to get traffic to your site.
Traffic will help people can see the products which you are selling. The best way to do this is by using content marketing. That is basically creating quality articles about various topics in your industry with links back to your site whenever possible.
This plays on the idea of “link building,” where websites are ranked higher by Google when they have more incoming links from other high-ranking sites.
If you’re an SEO newbie, then these types of strategies might be difficult for you. However, there are many courses online that can teach you how to properly implement them over time.Traffic will help people can see the products which you are selling. #onlinebusiness Click To Tweet
In Conclusion to Start Your eCommerce Business
That’s really all there is to it. Before you get started have an eCommerce business plan written out.
Now you just need to work hard and persevere through the rough patches. Your eCommerce business website will either succeed or fail, so put in all of the efforts that you can.
Before you know it, your site could become a household name among online shoppers.
Have you started an online business selling products or services? I’d love to hear more about your eCommerce business in the comment below.
FAQ’s About Starting Your eCommerce Business
Businesses that sell their products and services through electronic channels such as websites, email, FTP sites, or mobile apps.
Yes, you can start your eCommerce business from anywhere.
It is a specialized or focused area of a larger market that businesses can serve to differentiate themselves from the competition.
A tangible good is something you can touch, feel or smell.
A service is something someone does for you. Like managing your social media or typing.
The process by which an affiliate earns a commission for marketing another person’s or company’s products.
The risks are time and or money. You will spend both of these to start your online business.
The text that a user types into a browser window to reach a particular website.
You can hire someone or purchase a website builder. There are many available on the market today.
Traffic to your website are visits to the site. You do want traffic but targeted traffic is best. Those are the people who will make purchases.
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Is an E-Commerce business is better than freelancing what you recommend?
I would start out freelancing first to get your feet wet Indrajeet. Good luck and let me know if you have more questions. What type of business niche are you looking at?
Developing the ability to work with others is a great lead-off point Lisa when it comes to running a thriving e-commerce business. I am learning this more and more every single day.
Engaging in outreach and taking care of my readers are 2 fundamentals of my online business campaign. Engaging is everything. But even more important is helping fellow entrepreneurs in your niche and expecting nothing in return to earn their trust. From there, all of your connections will do wonders for your e-commerce business. Excellent post my friend.
Hi Ryan, yes, I think that sums it up for any business today. We must have the ability to work with others if we want to grow. Anytime you can help someone and expect no return is boosting your confidence along the way and helps you and them at the same time 🙂 A win-win! Thanks for coming by Ryan and enjoy the Halloween weekend.