Starting an e-commerce business is not a single day’s work. It needs ample amount of research – upon the product/s you will be selling, research upon the the business process/plan, and the research upon how to sell, or in other words which platform to use to start with.
Since I am currently heading 2 successful brands and working on the 3rd one. And most importantly I frequently meet several startup founders for helping getting their business started (since this is what one of my brand does), I can tell you in a much better and simpler way, with comparison that which method will work best for your level of requirements.
See The Ultimate e-Commerce Guide to Starting an Online Business a list made easy for you
Now lets start with what comes first-
1.Research upon the products/services:
The very first step to start planning with is to know, what you are going to sell in the starting of the business.
This research depends upon:
- the competition of the products/services in the market
- feasibility and probability of successful selling of that product/service in the market
- beating the price war
Now if you are able to get the profitable answer to the above mentioned 3 points, you are all set to research upon the business plan and business model.
2.Research upon the business model you will be following:
Your success in your venture completely depends upon the business model and the process of doing business you are adopting.
For example there could be 2 basic models of selling – “Marketplace” another one is “selling your items”
Now it’s upto you to opt the business model which can provide you the maximum profit in the first 3-4 quarters.
It is also noteworthy that, starting a business with one model could be changed afterwards as per your market demand and profits. You can also mix two models, which are generally preferred by the founders, since it provides benefits of both marketplace as well as direct selling.
Now when you know the list of products/items you will be selling online along with a proper business plan, now is the time to research which online or ecommerce platform to use for selling your items.
3.Choosing the perfect platform for your online business:
It is crucial to choose the platform for e-commerce site wisely. Since your whole business will depend upon this platform’s performance.
Choice of ecommerce platform
You can choose between following e-commerce platforms for your online business:
Now let me tell you what you should be looking for before you choose a platform for your online business.
- Scalability options
- Option for custom integrations
- It should have an option for Payment Gateway integrations
- Option for Shipping integrations
- Option for website traffic analysis
- Easy product upload and
- Easy inventory management
When you are all set to choose the platform, its time to get your business registered as per your country’s norms.
Also, before setting up ecommerce platform, you must be ready with your product photographs (if reqd. ) and product description to upload on your website.
After setting up the products and setting up your company’s registration along with the other tax registrations (as per your country’s norms) your ecommerce business is all set to roar in the market.
Setting up an online business is not an easy task as it generally looks like and it takes lots of efforts as well as time to implement your ideas. This article is a simple list of things you must keep in mind while implementing your precious idea. Do let me know about if you need any help regarding this in the comment section, also mention your country’s name so that i can help you in a better and precise way.
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