7 Simple Steps to Start Your E-Commerce Business
By: Nathan Scott
Starting an e-commerce website is one of the best decisions you can possibly make. It’s a way to make money very passively, and it has unlimited potential; you can make millions of dollars if you end up having a successful business. Hundreds, if not thousands, of people have become millionaires through drop shipping. There are some people who have moved on, trying to find the next big thing to become wealthy.
In reality, it’s not too late to become extremely wealthy through drop shipping. Even though some people might say that it’s dead, they’re often saying that just to advertise their own course, which often won’t be nearly as good. You can still become a millionaire through drop shipping; you just have to find a way to differentiate yourself from the rest of the people trying to do it too. All it will take is seven simple steps and you’ll be on your way!
Step 1: Research Your Niche
To begin, you have to make sure you have a niche that can be profitable. You should research all over the internet to find current trends and find out what the best product will be. Keep in mind that this stage is all about trial and error; you might find that some products don’t sell at all, even if you thought they would be popular.
In the end, you might want to ask friends or family what the best product would be; consider sending out some surveys in the name of market research and make sure you find out what products will sell before you set up your shop.
Step 2: Find Solid Products
Once you’ve decided what niche you want to go into, you should focus on finding the right products and finding suppliers. This is something you’ll do now as well as periodically; finding suppliers is often a challenge. For example, if you want your shop to focus on tools, find good suppliers on a website like Alibaba or Aliexpress.
Search each product individually; find a hammer supplier, a screwdriver supplier, etc. There are tons of different merchants for every product you could want, so by looking for all of them separately you’ll be able to find the best products at the best prices.
Step 3: Set Up Your Business
Depending on your location, you will have to take certain steps to make sure your business is legitimate in the eyes of the law. For some places, all you have to do is set up a business bank account and your business is completed. For other places, you will need to register with the state or country; you might want to set up an LLC.
You should look up the requirements for your location before you start doing business; you’ll want to know tax requirements as well to make sure you’re complying with all the laws before making sales. Otherwise, you could run into fines and bills when it comes to doing business taxes at the end of the year.
Step 4: Build and Launch Your Website
The most important part of your website is the website itself! Making a beautiful website is absolutely a necessity if you’re going to get traffic and sales. There are tons of different options when it comes to building your website. You can either use a service like Shopify or find help with designing a custom website.
It’s super easy to build a custom website and link products over from other websites if you use Shopify; you don’t need to know how to code or know anything about web design to make a great website. All you need is your idea and your products, and it will be easy to start your business.
It might be smarter, however, to have a more customized website build for your brand; it will make you different from the thousands of Shopify sites online and will help your brand be seen as more unique.
Step 5: Build Your Online Brand
Once you have a website up and running, you need to build your brand. This is essential because customers will not buy from a brand they’ve never heard of; you have to build an online reputation.
One of the best ways to do this is through social media; it’s easy to make accounts on all different platforms and start posting. Even if you don’t have a lot of followers, you’ll seem more real to people who find your accounts on social media. You’ll also be able to interact with potential customers and seem more real.
Step 6: Attract Customers
Your business is nothing if you can’t attract any customers. That’s the most important part of starting an e-commerce business; it’s why you’re doing all of this in the first place! There are tons of different methods to find customers; you should try out all of them and see what works best for you.
Many people find great and recurring customers by running ads on Facebook; however, you don’t necessarily need any ads to find customers. Make sure your website is high-quality so it will rank in Google; search engines also bring tons of customers.
Step 7: Retaining Buyers
It’s not simply important that you get customers a single time; the most important part of any business is having returning customers. What you should do is find a way to keep your customers coming back to your site; you can do this through email marketing, contests, coupons, or social media accounts. The possibilities are totally endless. Getting your customers to come back is the most fulfilling part of your e-commerce site!
There’s nothing better than making money without having to actively manage anything; unfortunately, to get your site to that point, you have to put in the time and work to make a great website that attracts customers. It’s not incredibly difficult, but it does require that you dedicate the time to your website. If you don’t make it beautiful, you won’t find customers. It is absolutely worth it; there’s unlimited potential when it comes to creating a great e-commerce site!