Starting an e-commerce business has always been a rollercoaster ride. It involves many steps (actually countless if you have no objectives in front of you) and decisions which are required to be taken at the right time.
You can perform a quick Google search for ‘how to start an e-commerce business’ and you will be provided with millions of results on this topic. But most of the information you will get online might be a hindrance than a help. All you need to get success is the right information at the right time.
Taking right decisions is very crucial especially when you are commencing your first e-commerce business. So before you print your business cards, start a website, or invest lots of time (or money) to develop a perfect e-commerce site, you will have to take some basic steps that will get you off the ground and jumpstart your own e-commerce business.
#1 Find out your niche
It is very important for any e-commerce business to settling on a niche. The niche could be anything in which you have some sort of experience or specialization. You must have passion in an area to think about building your business around it.
There are many e-commerce sites that are offering products from hundreds of categories; however, at the initial phase, you must focus on a niche and add product categories once you witness growth. By finding a niche market, it will be easier for your business to rank in Google searches, and you will have less competition.
#2 Find suppliers who will never let you down
While finding suppliers, you should avoid connecting with the one that also works with Amazon or other big companies. Such suppliers work on bulk orders and you surely won’t purchase such huge quantity while starting off.
So, you need to do tie-ups with multiple suppliers (and not simply supplier). It’s always a wise decision to have options in your hand so that if someone fails to fulfil your orders, other suppliers can fill the void.
#3 Allot time to work on your business
If you are starting your own business, forget about working hours concept. Be prepared to spend long hours on planning and structuring your Ecommerce website. We often hear success stories of bloggers and online businesses that it is the most exciting way to get the freedom to travel and work less; however, it’s untrue.
Pay attention to the current trends and try to incorporate changes that are best for business. It will help you for staying on top of your competition. You just have to give adequate time to your business; just sit in a calm place along with your laptop and think about what’s best for your business.
#4 Choose your platform wisely
If money is no bound to you, go crazy and invest in a custom site developed by a professional team who will also manage the maintenance of your site. However, most of the new e-commerce start-ups work on a tight budget (and unstoppable mindset). So, you can use a tool like Shopify which takes care of all the technical aspects of your online store.
With Shopify, you get the ease of use and you’ll work independently. You will hardly require help from someone else who could help you in the setup of the stores. And, there are other options like WordPress where you will have to manage the development as well as maintenance of your online store.
At the end of the day, the choice of the platform depends on your level of know-how in technical aspects. If you are an extreme beginner, then Shopify is a good option, else WordPress is the ultimate option as it will give you full control of your site.
#5 Choose right influencers
Marketing plays a vital role in the success of any business. While so, branding is the key to success. Influencer marketing in your niche can help you gain immediate popularity in your targeted audience. You can perform giveaways and offer products to influencers. This will help you for reaching out to a large audience.
However, it is always a tough job to find a good influencer (in your niche) for your e-commerce startup. Plus, you might meet few fake influencers, so be wise while choosing right influencers.
#6 Get it in writing
We all know how important paperwork is when it comes to business. This should go without saying. Though, sometimes we make exceptions and end up with bad experiences. Learn to inform your expectations clearly to suppliers, influencers, or employees. Try to simplify every process and maintain a record of your communication.
#7 Pay attention to legal procedures
Perform a quick Google search and you will get an idea of which things will be needed to have in place 7 to begin your online business legally. These documents may include sales taxes, LLC, and finances. Make sure you do everything legally as skipping any of such requirements might cause trouble in the growth of your business.
These were the seven tips that will help you jumpstart your e-commerce business. Hope you will use these steps for building and growing your e-commerce business.