If you’ve been on the internet lately and have been looking up potential business ideas, then eCommerce has certainly come upon one of those lists.
Well, we’re here to tell you that eCommerce is becoming a viable business idea that can be developed into a full-blown business.
But, for that, you will need first-hand tips on how to start one. So, because of that, we’re here to tell you exactly what you need to start an eCommerce business from scratch.
Think of this article as your beginner’s guide for 2020 as we will be discussing some very topical things.
1. Research, Research, and More Research!
The first and most important thing is to do plenty of research. But research what, exactly? Since you’re hoping this will grow into a business, you will need to put plenty of time into it to make sure that it’s feasible.
You will also invest a lot of money, and you don’t want that money to go to waste. Because of that, grab your laptop, go online, and start researching potential things to sell.
Ecommerce businesses specialize in selling things online. Thus, you will need to understand how the whole industry works, what software is best for you, how to sell digitally, and lots of other things.
What you might know about eCommerce is nothing compared to what exists. And there are plenty of ways to sell stuff online. You don’t necessarily have to buy the products; you could make them yourself or even dropship.
But what attracts people most is the single product model of eCommerce. Through this single model, you sell only one specific item and do plenty of affiliate marketing to make it work.
2. Start Researching Your Niche
Remember when we said that you’ll be doing plenty of research? Well, that’s essentially what step number two is all about.
You can’t sell if you don’t have a product, right? So, you need to think long and hard as to what that product will be. Will you sell patio chairs or will you sell fidget spinners?
Whatever it is, you need to think about it and make sure that it’s feasible.
And chances are, you won’t have that big of a budget to acquire or manufacture your product. Thus, you will need to do plenty of research and determine what sells the most.
Choosing a niche and sticking by it might be the best thing you’ve ever come up with. But it needs to be feasible, work, and bring in profits.
On a side note, you can always choose to do business with experts in the industry that can help you jump start your eCommerce venture. These so-called experts might be good or they might be a bunch of phonies. Thus, you will need to research potential eCommerce experts that will be good for you and your business.
If you’re interested in just that, then make sure to visit Optimum 7 and choose the best eCommerce experts for your needs.
3. Determine Your Market and Make Sure Your Product Will Sell
Wanna know a little secret? You will do plenty of research even in step number three!
Yeah, we know; it’s getting quite boring now. However, you cannot, and we repeat cannot, underestimate how vital research is when thinking about any sort of business idea.
How would you know if your item would sell if you don’t check out the market for it? How would even know if there is a market for it? Are there people interested in your product? What is the supply and demand for it?
All of these questions can be answered by doing plenty of online research.
Once you’ve found a product you like, you will need to determine whether people will buy it. And determining that is made very easy by thinking about personas.
What are personas? – you might be wondering. Well, personas are people that your makeup and fictionally go through the buying process to understand whether this fictional person needs or doesn’t need your product.
It might sound confusing but 99.9% of the industry operates on the principle of personas.
So, grab a pen and follow us on this one.
For starters, you will need to give your persona an identity. Who will this person be? What are their interests? What are their problems…etc?
Next, you will need to picture your business. What is your business? Who does it cater to? What are your products, etc?
Again, this is all fictional but it’s important as it gives you a better image for what’s about to come next.
Once you have a persona and have created your brand name and image, it’s now time to go through the buyer’s journey.
A buyer’s journey is a fictional process that you make up yourself that involves your buyer persona and your business.
This process explains how your potential “customers” will interact with you, how will they find you, what use do they have from your product, etc.
It starts with you imagining that your buyer persona has a problem. Next up, you identify how the buyer comes to a solution. Do they go online and look for their solution?
Naturally, this gives you a general understanding that you will also need to start working on your online presents, but that’s not important right now.
Once they have identified a problem, you will need to come up with a scenario as to why you are their best option. This will help you understand why you need to explain your product and how to market it.
The buyer’s journey and the buyer’s process ( two different processes) are equally important. They help you understand key elements in regards to your product and help you get the wider picture.
While explaining these processes is literary impossible in this article, you should read more on it and familiarize yourself with it.
Never underestimate the power of research, as this will be your main resource at first. Look for potential opportunities and look for cool niches that will help you achieve your ultimate goal of starting an eCommerce business from scratch.