Summary: An ecommerce business can sell products (real and virtual) and or services over the web. Beginning an online business can be a lot of work, but in the end, it can also be very rewarding.
Following the steps below will help you start an ecommerce business.
1. Get a strategy, plan, dream or vision.
Without having a strategy, plan, dream or vision your ecommerce business will most likly fail. A strategy or plan is the first place to start. Study your competition (if there is any) and consider what you will need to do to compete in that field or industry. In many ways the internet levels the playing field and gives a newbie a chance to compete with the largest business on the net, simply through the window of a browser.
2. Consider diversifying.
If you have a single product or service consider diversifying, as it can help your business appeal to more clients and bring more traffic to your ecommerce business. With more traffic your website has a much better chance to succeed.
3. Pick an internet ecommerce hosting company.
You will need an internet ecommerce host to set up your website, in order to set up your products and market them online. There are many to choose from but your online business website will be your storefront to the world. This is where your clients will find out about you and your business, look through your items and make purchases. We recommend 123EzBiz to save you time and money. 123EzBiz is fully integrated with WordPress and includes it with every ecommerce plan. WordPress is the number one content management system (CMS) on the net. As a hosting platform WordPress hosts over 43% of websites on the internet (that's 455 million per statistics) and it has nearly 60,000 plugins and 10,000 themes.
Go to your county and file a DBA (Doing Business As). You can also search the U.S. Patent and Brand name Office to guarantee that you're not picking a name that has been taken by another organization. Also check with your city, county, and state for any other requirements or licenses or permits you may need. This will allow you to set up a separate bank account for your ecommerce business.
Tip: Use your name or last name as part of the business name and no one will be able to challange your business name. Example: If your name is "Lee" consider "Leecorp" or "Leeco" or "Leecraft." Consider alpha numerics when chooing a name. For example, if your name starts with a "P" and you land in a directory, how many names will come before yours in the list?
5. Start keeping business financial records.
Save receipts and track all profits and expenses. This will help greatly when it comes to filing your taxes. We recommend consulting with a certified public accountant (CPA) and or possibly a tax attorney.
Tip: We suggest all entrepreneurs use something like Quickbooks accounting software.
6. Consider inventory.
Are you going to stock and ship the item? Assuming this is the case, you'll have to contemplate extra room and how you intend to arrange the products. nevertheless, you'll have the ability to ship things yourself.
Some companies depend on outsourcing products, in which items are fabricated or obtained at the time the request is made. As a rule, outsourcing may keep your overall costs lower, however, it very well may be less challenging to oversee since stock levels and transportation will no longer be any of your concern.
Different choices for obtaining internet business items include:
* White-labeling, or buying things in mass from a manufacturer and afterward marking them with your own print of your organization's brand.
* Print-on-request, or paying an outsider to print your organization's brand or idea on stock like t-shirts, mugs and banners. Print-on-request typically works like outsourcing, in that a client submits their request, then the manufacturer makes the item and sends it directly to the client.
7. Marketing an ecommerce business
Now that you have started an ecommerce business, you are ready to begin serving customers, as long as they can find your products.
Your private company promoting methodology could include:
* Internet based paid advertisements like Google Ads.
* Optimizing your website for search engines (SEO).
* Sending email to past and potential customers.
* Setting up social media ad campaigns to capture potential clients. Consider outsourcing this task to a professional ad company that specializes in social media marketing.
* Make some Youtube videos for products or services you offer.
How much does it cost to start an ecommerce business?
The expense of beginning an online business can change, generally contingent upon what you are wanting to sell and in what volume.
Some of your ecommerce business costs might include:
* Ecommerce website hosting.
* Ecommerce merchant account to run credit cards.
* General expenses of maintaining a business.
* Expenses for bookkeeping and tax preparation.
* Business insurance or possibly filing an LLC if needed.
* Additionally, save cash for unexpected expenses.
*Promotional offer is valid for new customers only and requires an active 123ez.biz ecommerce account.
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