Helping entrepreneurs to start an eCommerce business is the prime purpose of eCommerce Thesis. eCommerce is a booming business. It’s has a lot of benefits than a physical store. It’s Saves money and time. eCommerce has opened the scope to do business globally. In other words, according to (KPMG) Thirty Percent of Consumers Say The Would Rather Buy from a Website They’ve Bought from Previously.
There Were 1.8 Billion Global Digital Buyers in 2018 (Statista). As of writing, there are 7.7 billion people in the World. That means 21.55 percent of the World’s population buy online, and in 2021, the number is expected to rise to over 2.14 billion. So we can say that’s a huge pool of potential buyers.
By 2040, around 95% of all purchases are expected to be via eCommerce. So this the high time to start an eCommerce business.
First I want to divide this tutorial into 2 categories to make it easy at you.
1: How To Start an eCommerce Business From Scratch without no Products?
2: How To Start an eCommerce Business From Scratch with Products?
Also, get a full guideline about Successfully Moving Your Physical Store Business to eCommerce
67% of millennials prefer online shopping than in-store shopping due to convenience.
How To Start an eCommerce Business From Scratch without no Products?
- Finding a product to sell
- Select a Business Model
- Setting Up Your Brand & eCommerce Busines
- Attracting The Right Audience
- Scaling Your Ecommerce Business
- Best Time for Ecommerce Businesses to Enter the Market
Finding a product to sell
As a new entrepreneur to the world of eCommerce, you might be wondering just what exactly you should be doing first. The step to start your eCommerce business is to choose a product to sell. To get the best product to sell is a challenging part to start a new online business. The success of your eCommerce business mostly depends on finding the best products.
You can start with niche-specific products or Multi-Product eCommerce business. I suggest starting with a niche-specific product. There is no value to start your first eCommerce business hundreds of products and dozens of categories If you cannot keep the focus.
In July 1995, Amazon began service as an online bookstore. Today Amazon sells more than 12 million products. So you have to keep mind it that it is not possible to become the next Amazon or Best Buy overnight. In business, you have to go with logic, reality, and research.
Don’t start with a product that is easy to find in stores or on popular eCommerce websites like Amazon. But If you can add extra quality and add more feature that can solve customer problems and definitely feeling a lack of the current product. Then you can start with such a product.
Select a Business Model
After finding a product to sell you have to choose an appropriate business model to start an eCommerce business. The business model helps you to run your business successfully.
If you have a profer business model then you can easily figure out the problem and solutions of your business.
What is your business concept?
What problem are you solving for your customers?
How your product or service will get to customers?
How to defeat your competitor?
Business Model can visualize your revenue and costs before starting
There is a different type of business model but the main types of eCommerce businesses are B2B and B2C.
B2B — Business-to-business
B2C — Business-to-consumer
If you want to start eCommerce business to make extra income in your part-time then Amazon FBA or Dropshipping Business is best for you. You can do this business without seeing or touching your product or investing heavily. Even you no need to go anywhere. You can run this business from your home
If you are serious entrepreneur and able to invest more. You have your own warehouse. So the warehousing business model is best for you.
Have you a dream to create a band? Want to start a business from scratch with single a unique product that only you can sell it under your brand? White labeling and manufacturing business model is perfect for you. Only your band can offer these unique products.
There is another business model that call subscriptions based business model. In this business model, you can provide your products or services at regular intervals to your customers.
Setting Up Your Brand & eCommerce Busines
After finding the product and select the business model then you have to start building your eCommerce website. If you want to start your business for long-term then you have to thinks about the branding.
Brand value is very important for any business. Your business success mostly depends on your brand’s persona. To do so, you need to identify your brand’s persona. An intelligent entrepreneur always wants to become a brand that connects with their customers’ personas.
So let’s start to know “How to set up your brand & eCommerce business”
Step 1: Select A Name for Your Business and Register.
The right business name can protect you from cost millions… Don’t select a long business name. The short and simple name start giving an immediate advantage.
Keep your business name unique and different than your competitors. Check the domain name available. Don’t delay to buy your domain name. Then register your company name because there are legal protections and tax benefits for incorporating
Step 2: Apply For Your Business Licenses And Permits
You shouldn’t skip apply for your business licenses And get permits. Check with your city, county, and state to see what sorts of sales tax licenses or online business licenses you need to start an eCommerce business. Most people do not apply much (if any) scrutiny to their business licenses and permits until something goes wrong. It’s wise to get those approved before you start operating.
Step 3: Design a Logo
Logo Foundation of Your Brand Identity. At a very basic level, logos are symbols made up of text and images that present your business and brand. Also, Logo help customers identify the brands they like. You can hire any professional logo design from freelance market places or you can do this yourself using free logo design services from the internet.
Step 4: Select a Platform for eCommerce website design
Now you have business name, Business Licenses, And Permits and Logo.
So you are ready to start creating an eCommerce website for your business. There have lots of popular eCommerce platforms like WooCommerce, Shopify, Magento, OpenCart, BigCommerce. You can choose anyone from them on the base of your business type and size. Which eCommerce platform should we use?
Know you can hire an eCommerce developer from local or freelance market places like freelancer.com or Fiverr.com they help you to make ready your website as your requirements. Check everything again before launch and receive this project from your developer. Website Speed, Responsiveness, Clean and Professional Looks, Good Navigation, Payment getaways integration, Social Account added and Email Subscription form.
Step 5: Start Marketing and Get Sells
Marketing is an undivided part of any business. It’s a regular task of eCommerce business. Your business success depends on marketing. So when you launch your new eCommerce website then start marketing from this day.
There are different types of Digital Marketing. Initially, you should start Content Marketing. Search Engine Optimization (SEO). Search Engine Marketing (SEM). Social Media Marketing (SMM). Pay-Per-Click Advertising (PPC). Email Marketing.
You can hire any Digital Marketer for eCommerce Specialist for your business.
Attracting The Right Audience
Before writing in elaborate, I want to share a simple lesson when I was a student of high school I have learned a composition about aim in life. life without an aim is like a ship without a sailor. This is 100% true in every aspect of professional life.
So when we talk about Attracting The Right Audience then, first of all, we have to Identify a Targeted Audience. It helps your business develop effective marketing communication strategies. Do you know *How many people use the Internet 2019?* As of 2017, there were an estimated 3.9 billion Internet users worldwide. This accounts for more than half of the global population. Of course, 3.9 billion people is not your customer and they are different by age, language, location, gender.
What are the key aspects you should consider in choosing your target audience?
Here The Lists: