A chance to make money with eCommerce exists for those who are willing to learn and work hard. However, even if some people end up investing their time and money, it does not always turn into a successful venture.
There are lots of variables that determine whether you will win or lose. Of course, it is impossible to predict the outcome without actually launching the business, but you can minimize the risks.
The fact that you are looking to start a venture means a lot in itself. Motivation plays a prominent role. And to further increase your odds of coming on the winning side, consider following these steps.
Step #1 – Find a Reliable Product Supplier
It is more than likely that you will stick to the dropshipping business model. There are too many risks involved if you decide to be in charge of everything yourself. Inventory, shipping, warehouse, and other elements cost a lot of money, and you will need to hire people to ensure that everything is in order.
On the other hand, if you were to work as a middleman, plenty of problems would be eliminated by default. And finding a reliable product supplier would be the most important thing in this case.
You could also learn how to build a successful print on demand eCommerce store with the help of some well-known printing services out there. Doing so would mean an extra source of income later, and it is a great learning experience.
Step #2 – Take Care of Legal Matters
Legal matters can become a hindrance if you are not careful. Different countries have different laws, but if you decide to work with eCommerce, take the time to research the situation.
You do not want to deal with legal problems later just because you forgot to pay attention. Not knowing is not an excuse. Consult with someone who understands these matters. It’s always better to be safe than sorry.
Step #3 – Do Not Rush
Rushing the launch itself should not be on the list of priorities. Even if you have a plan on the ready, and have defined your goals, double-check everything before you commit. The project will take time and money, and these resources are finite.
Step #4 – Focus on SEO
Search engine optimization should be one of the most important things when you launch the store. You will not make any sales without website traffic. And random people who stumble upon your page are very unlikely to purchase anything.
Meanwhile, traffic that comes from search engines is worth a lot. If you optimize keywords that are with intent to buy, odds of turning such visitors into paying customers are relatively high.
If you are not that knowledgeable with SEO and only know the basics, do not fret. There are a lot of great SEO professionals who would be more than happy to join and help you with creating a long-term strategy.
Step #5 – Research Competition
Keeping tabs on what others are doing would also be quite beneficial. Of course, you should not copy them, but the chances are that other brands are in front because they are using something you are not.
Lack of inspiration and motivation is also something quite common. Periods of stagnation could lead to thoughts about you failing as an entrepreneur. But these periods will pass. In the meantime, you could dedicate some hours and learn about other businesses and what makes them so successful.
Step #6 – Optimize for Mobile Devices
Smartphones and tablets have not replaced desktop computers and laptops quite yet, but about half of the internet traffic is made up of mobile device users.
The website should be optimized for both smartphones and tablets. Otherwise, you stand to lose a lot of potential customers.
Later on, you may even start to consider developing an application. If you feel like it would generate a lot of interest or make things simpler for your customers, do not hesitate and go for it.
Step #7 – Market on Social Media
Social media is where every brand is these days. The likes of Instagram and Facebook boast of having hundreds of millions of active users every month. And the trend is not stopping any time soon.
Cooperate with influencers, organize contests and giveaways, run ad campaigns, and look to increase your presence on multiple platforms. This way, you can reach wider audiences and inform them about the products or services that you are offering in your store.
Step #8 – Look to Scale
Scaling comes later, but you should still keep it in mind. Hitting a wall is inevitable, but seeing the same sale numbers for a while should not be something to be upset about too much.
You need to find methods to break out of the issue. Focus more on raising brand awareness and customer satisfaction. Retain the ones who are the most loyal. Offer them perks so that positive word of mouth travels and brings you even more business.
