Selling online is an attractive proposition for many entrepreneurs, due to its low cost and the potential for high returns. As the Covid-19 pandemic has made clear, more people than ever are purchasing their goods and services on the Internet, creating a huge opportunity for those who want to start and run their own online stores.
It’s easier than ever to start selling online. Whether you’re selling handmade goods, vintage products, niche items, or anything else in between, this guide will walk you through the basic steps to get your online business up and running quickly and efficiently.
Before You Start Selling Online
Before you dive into the world of e-commerce, there are a few things you should consider.
Research Your Niche
The most important step in starting an online business is researching your chosen niche in the industry. This may include looking into what other people are selling, who their customers are, and how your product or service will fit into the existing market.
You can also research pricing models, quality standards, and best practices for successful online stores. This will help you understand the competition and craft an effective offering that stands out from the rest.
Create a Business Plan
A business plan will help you establish the goals of your business, map out a path to success, and create a sound financial strategy. Credibly, a business funding provider, provides a useful template for budding entrepreneurs.
Keep in mind that your plan should include launch costs, marketing budget, pricing structure, and other key elements of running a successful business.
Choose a Platform
Once you’ve chosen a niche, you will also need to decide on a platform for your store. Some of the most popular options include Shopify, WooCommerce, BigCommerce, Magento, Squarespace, and Wix. Each has its own advantages and disadvantages, so take the time to research the right one for you.
Think About Fulfillment
Before you start selling, you need to figure out your fulfillment strategy. This includes where your products are stored and shipped, who will pack and ship the orders, and how long it will take for customers to receive their purchases.
You should also consider whether you want to use a third-party fulfillment service or handle the process in-house. While outsourcing will reduce the burden of handling the logistics, it will also cost more.
Develop Relationships with Vendors and Suppliers
Relationships with vendors and suppliers are essential for running a successful e-commerce business. Before launching, you should work to develop relationships with trusted vendors who can provide the best quality products for the lowest possible price.
These relationships will not only keep your costs low, but they can also ensure that your customers receive their orders quickly and reliably.
How to Create Your Online Store
Now that you’ve taken the first steps to get your business off the ground, it’s time to create your online store.
Choose a Domain Name
Your domain name will be your online identity and the URL people use to find your store. When choosing a domain name, try to pick something memorable and descriptive of your business. It should be short, easy to spell, and free of hyphens.
Set Up Your Website
Once you have a domain name, the next step is to set up your website. Depending on your platform of choice, this can range from a simple drag-and-drop page builder to a more complicated HTML and/or CSS setup.
If you’re feeling overwhelmed, you can hire a web developer to help you set up your store.
Order Processing and Payment System
In order to start selling, you’ll need to set up a reliable system to process orders and accept payments. This involves choosing a payment processor like Stripe or PayPal and integrating it into your website.
You’ll also need to set up a payment gateway to securely transmit credit card details and process transactions.
Choose a Shipping Provider
To ensure your customers receive their orders quickly and in good condition, you’ll need to choose a reliable shipping provider. Popular choices include USPS, UPS, and FedEx.
You should also consider options like shipping insurance and signature confirmation to further secure your customers’ purchases.
Add Your Products
Next, it’s time to add your products to the store. You should include detailed descriptions for each item, along with high-quality product images and other relevant information.
Keep in mind that you can also add additional services such as gift wrapping or custom messages.
Promote Your Store
Now that you have a store, you need to let people know it’s open for business. Start off by creating a website, with a blog or other helpful content that will draw viewers to your site.
You should also consider social media and email marketing to potential customers who are already interested in what you’re selling. Additionally, use SEO optimized content, PPC campaigns, and influencer partnerships to introduce your store to a wider audience.
Measure Your Performance
Once your business is up and running, it’s important to track your performance. This will help you understand where customers are coming from, what items they’re buying, and how profitable your business really is.
Google Analytics is a great tool for tracking key performance metrics, such as website visits and customer conversions.
Selling online is a great way for entrepreneurs to break into the world of e-commerce. By taking the time to consider your niche, plan your business, develop relationships with vendors and suppliers, and promote your store, you’ll be well on your way to success.
The process may seem overwhelming at times, but the potential rewards make it well worth the effort.
