8 Steps To Starting An E-Commerce Business
Businesses all over the world have begun to harness the power of the internet to boost their reach and the sale of their products.
No matter if you are an experienced retailer or someone looking to make some extra money on the side selling their handmade products, e-commerce is a great option for you. But, how do you get started.
Here are the eight steps to starting and maintaining an online business:
PICK YOUR PRODUCT OR SERVICE
The first step you have to complete is deciding what it is you want to sell. This could be a product or service. You need to make sure that the product or service that you are selling isn’t patented by anyone. If it is and you start to sell the product or service, you could be at risk of facing legal consequences. Make sure to do your research before committing.
MAP OUT THE LOGISTICS
Before you do anything else, you need to make sure that you will be able to meet the demand for the product. Say, for example, that you are making goat milk soap. You need to make sure that you have steady access to the milk and you have the time and energy to commit to creating a ton of soap each week to be mailed out to your customers.
NAME YOUR BUSINESS
Now that you have your product, pick out a name that will draw attention to your business. The name could be something simple, something comical, or anything in between. If you are completely out of ideas, you can also search on the internet for a business name generator that can help you come up with a name that is sure to draw customers to your business.
OPEN BUSINESS ACCOUNTS
Depending on the size of the business, you may want to open a business account with your bank or, at the least, make a PayPal account for your company. This will keep your funds separate from your personal finances, which can make tax season simpler.
PICK A PLATFORM
There are a ton of e-commerce website platforms like WordPress or Weebly that allow you to sell your items using different widgets offered by the platform. You can link your company’s business account or PayPal account to the website so that the revenue from your company goes straight to you without any hassle.
Before you open for business, make sure you are stocked up on the items you plan to sell. Take some time to make your handmade items so that you aren’t rushing to fill orders when the store first opens.
OPEN FOR BUSINESS
When you have a nice bit of stock ready to sell on your website, make the website live so that your customers can see it.
PROMOTE YOUR BUSINESS
No matter if you use social media sites or paid advertising, make sure that you promote your business so that plenty of customers will head to your website to start shopping today!