How to start Ecommerce business 2023.
What is ecommerce business?
It is a business transactions conducted over the internet electronically.
9 step by step guide to adhere to.
- Choose your niche.
- Research on your business model.
- Validate your product.
- Choose the delivery method.
- Write the business plan.
- Choose your business name.
- Register your business.
- Create an online store.
- Market your business.
1.Choose the right niche.
Kind of niche you operate with determines the success of your business. It is important to make the right choice to make your online business successful. Use your skills and expertise in creating and progressing your commerce.
Always practice good ethics in your business, Successful enterprises are:
- Customer satisfaction oriented.
2.Research on your business model.
Research on the market and find out what is working on your niche, look into the competitor activities, trend of product and much more.
Find out the market accessibility by viewing barrier to entry and how to overcome any hindrance.
Identify what customers are looking for and try to solve their problem. Figure out the gaps in the ecommerce business that your goods and services can fill.
What to consider in your business:
- High quality of goods/service.
- High demand of goods/service.
- Easy reachability of your business.
3.Validate your products.
Since you have chosen niche and you know what product to sell, now it is time to see your business operating. Evaluate your product viability by testing it against product quality and market demand of it.
Give your customers assurance of product quality, benefits to their needs and why they should buy from you.
4.Choose the delivery method.
Time to consider how to get and ship the product. There are methods to consider as follows:
- Make the product and deliver yourself.
It is among the best option where you make product and deliver to the consumer.
It requires a lot of time in making but it reduces cost and risks involved in product delivery which is always personal and small scale.
In this business profit is small but good for beginner.
In this method you partner with a manufacturer to sell large quantity of product. If you choose this method you need to order larger number of product pay for them and then distribute from your end.
In this case you can brand the product and sell in wholesale to others. Both manufacturer and Wholesaler make much profit and save a lot of time.
Dropshipping is the best option if you don’t have capacity to do the above methods. It is agreeing or partnering with a company which will ship your goods to the person ordered it. You can earn money by getting certain percentage of the product delivered to the consumer. It may have low profit but it worth it since you are not involved in the production and delivery processes.
- Digital product.
Here you create a useful digital product that can be purchased online.
Digital products like:
- Freelance writing.
- Blog post.
- Online classes.
- Themes and templates.
All downloadable digital products can as well generate some income to boost your livelihood.
5.Write the business plan.
You need a plan to follow to track your business performance and progress.
To reach your goal you have to establish the route to the destination.
Things to consider:
- Your business overview.
Give some details about your business background like the name of the company, structure vision and mission of the company. The value you bring to the market and more of such.
- Executive summary of your business.
Here you give brief of what your business does to your potential customers.
- What your business do?
- What are your business goals?
- Goods and services you sell.
- Your business target market.
- You sources of income.
- Good market analysis.
Do the market analysis and where you get your potential customers to serve.
Use the SWOT analysis. Know your strength in the market, your weakness in the market, your opportunities in the market and threats in the market.
- Product and service you offer.
Give more information about the goods and services you offer. Their use, production component, quality and quantity you produce or offer.
- Marketing Plan of your business.
Give your market plan such as your budget plan and directions you will take to facilitate your goods and services to the consumer.
Whether your target traffic is paid or organic.
- Logistics and operational plan.
Here you consider everything for a business to prosper like capital, labour, land and entrepreneur skills.
This will guide you and your business partner have clear idea of where are and where you are heading to in terms of logistics and operations.
- Financial Plan of the business.
Financial plan of business is very important, for your business to operate you need capital.
Even if you don’t have money at hand you should have someone or entity to lean on in terms of financial support. Make sure to work on plans that are reliable for profitable business.
6.Choose your business name.
Having the right name for your store is crucial and it needs sometime to figure out.
You need your brand name to be:
- Simple to pronounce.
- Easy to remember.
- Original of your brand, not registered by anyone else.
7.Register your business.
Registering your business is authority requirement to adhere to. For smooth follow of your business you need to register under the following categories:
- Sole proprietorship.
It is for self-employed people who operate small business by themselves.
- Limited Liability Company (LLC)
You control personal liability by registering under agent that represent you in case of any legal obligation by paying some small fee.
In big business like corporates also need to get the required registration to function smoothly in the market.
Get all requirement whether registration or license permit to safe guard your business from any unnecessary closure.
8.Create an online store.
Choose ecommerce platform that fits your business needs and build your online store to sell your offers. Go for the best free trial ecommerce platforms to start testing the one that fits your business best.
Thing to consider on platform to use:
- Speed and uptime of platform.
- Customer service of the platform.
- Ease of usability.
- Free plan of platform.
- In build website builder.
- In built SEO Tool.
- Unlimited analytics.
- Unlimited plugins.
- Low transactional charges.
9.Market your business.
Start marketing your business by either through organic traffic or paid traffic. In ecommerce business consider the incorporation of SEO Tools to find best keywords to rank for your products. Places to consider promoting your website include as follows:
- Google by use of SEO Tools to rank top on google search.
- Social media platforms like Facebook and twitter.
- Email marketing for sending offers to customers.
- Blog posts.