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Both businesses and individuals saw a new marketplace to exploit. To them, the writing was on the wall for brick and mortar retailers. The incoming computer age was going to revolutionize how people shop. And it has.
More people are buying products online than ever before. Online shopping is just more convenient for them. Plus, they do not have to go out in the snow and rain to get the products they want to have.
They can stay home, be comfortable, and take their time in making their purchasing decisions. They do not have to suffer any stress from pushy salesmen either. If you think it is too late to get on the ecommerce bandwagon and start your own online business. Think again.
It is not too late, and you can start your own ecommerce business to supplement your income. What follows are guidelines to start your own ecommerce business and the reasons why you should try.
Some Reasons Why You Should Start Your eCommerce Business
With costs going up every day, you need to figure out how to meet your expenses. An ecommerce business can help you make extra money each week or month. But that is not the only reason you should consider starting your own ecommerce business.
Here are a few more:
- The market is getting larger- over 200 million people are expected to purchase online this year. ·Roughly 51% of Americans like to shop online; 80% of Americans shop online at least once a month.
Earn money 24 hours a day- your ecommerce business does not have to close just because you have to go to bed. You can earn money even when getting a good night’s sleep.
- It is easy to set up and run- you have better tools to use, they are easier to use, and you have many selling platforms to choose from.
- Web users make purchases- roughly 80% of the people using the internet has made an online purchase. The market is willing and able to support your business.
- Reach more people- with online advertising and other tools you can reach far more people than you ever dreamed of reaching. Just keep the purchasing process simple. Videos of product lines helped to increase sales by 144%
Starting an eCommerce Business
You may think that it is difficult to get your online business up and running. But that is not the case. In fact, it should only take a few easy steps to get you started on making extra pocket money every month.
#1. Choosing your product & industry
This may be the hardest part of the process. Finding the right product to sell is always going to be tough. You need to find that better mousetrap and market it right. There are several aspects to consider when looking for that right product
- Your cost- how much are you going to have to pay to obtain the product you want to sell
- Your margin- in other words, what will your profit be after expenses
- Competitors- are you competing with a local person or stores selling the same product. It is easier to capture the market when you are not competing with local store owners
- Shipping- how much will this cost? Bigger and heavier items cost more to ship and people may not want to pay more. You can always put shipping costs in the price of your product
- Do you have passion- passion is your motivator to get you out and selling different items
#2. Setting up a supply line
You may not be able to make the product you want to sell yourself. You need to find good manufacturers that will make the product to meet your standards. You can find them in several ways
- Search engine searches- use the internet to boost your internet business
- Directories- yellow pages and other business directories can analyze a company for you and save you time and money. These directories are also online
- Local manufacturers- don’t forget the people in your community or city. They can make top quality products as well
#3. Go online
To get known, you need to go online, find a good web hosting company and set up a good website that will attract attention. These web hosting sites also have advertising discounts and offers to help you get the word out.
#4. Find a simple to use checkout cart
Nothing turns off buyers more than when a simple tool such as checking out is very difficult to use. You need to keep your checkout process simple. There are companies that can help you set up an easy to use cart system:
- Shopify – they handle it all for you for a small monthly fee
- OpenCart – no fees and you can make changes to the website if you need to.
Other systems like PayPal, Skrill, Payoneer, and more, have easy ways for your customers to make purchases on your website.
Some final words
As you can see, setting up your own e-commerce business is not difficult. You do not need a degree in rocket science to start making extra money for your retirement, dream vacation or special purchase.
What it does take is initiative, dedication and patience. Very few companies start a fad and make millions in their first week. You got to have a quality product, simple processes and get known. Good advertising will help propel your e-commerce business, but it will take time.
The last thing you need is great customer service. Standing behind your product and treating your customers well, will help you get that treasured word of mouth advertising that can make a business a success or sink it.
What are you waiting for, the e-commerce business will not start itself.