How to Start an Ecommerce Business
What Is an Online Store?
Any company that purchases and sells products or services online is said to be engaged in e-commerce. Ecommerce companies will carry out these online transactions by digitally transferring money and data.
There has never been a better opportunity to launch an online business, with retail eCommerce sales expected to exceed about $5 trillion globally in 2021.
If you're a talented entrepreneur or craftsperson, you definitely have fantasized about opening your own online store and creating a company that provides you a sense of freedom and success. You’ll learn each step in this guide.
We’ve put together a comprehensive blueprint for starting an eCommerce business. Based on the most important tasks you’ll face when researching, launching, and growing a profitable e-commerce store.
3 Steps to Building an Ecommerce Store
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Choose a product
Research and prepare
Setup your business
Prepare to launch
Post launch
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Choose a product
Finding a product to sell
The first step to building an e-commerce store is knowing what products you want to sell direct-to-consumer. This often is the most challenging part of starting a new online business. In this section, we’ll highlight strategies you can use to find product opportunities, explore the best places to look for product ideas, and finally, look at trending
e-commerce products to consider.
We creates The 3L’s Of Creation
We use this strong method to define purpose and clarity. It helps you find products, you love to sell! You can sell anything only if it has a strong story and impact! The 3L’s Of Creation helps you find products with impact! Here is how it works.
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Ask yourself, What would I love To learn. Is it something more about a specific hobby? A puppy that just joined the fam? Some well-being products you are interested in….
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What would I love To Launch.
Take the example I used in the Learn tab. A puppy just joined our fam and I would love to to learn more about it. So what can we launch around this topic? Dogs Shampoo, Sustainable pet toys. Healthy Dog food etc… This is how wo implement the Launch L. -
What would I love to love.
Here you just write your personal WHY. I want to start this because I want to give dogs and dog owners a better, easier way on how to treat there dogs well and on a healthy way
If you found potential products. Use Google Trends to analyze if people are looking for this product on a frequent basis. If yes, then you have a great product to start with!
2. Research and prepare
You’ve found your product, evaluated its potential, and sourced a supplier. But before you get into that, you’ll need to thoroughly research your competition so you know what you’re up against and how you can differentiate your business from theirs. Use Similar web to identify your competition. Make your brand or product different! See whats missing and make it better.
3. Writing a Growth plan
With your competitive research complete, it’s time to write your Growth plan. A Growth plan is a roadmap that helps bring your ideas and thoughts together. It's vital in determining what to prioritize and how to effectively reach potential customers. A business plan also highlights your company's mission statement to show investors and employees the core values of your brand. Do a good audit from your potential customers and know the value proposition of your brand. If you want help to create a plan of growth and strategy, we can help you to focus on the right things. we created the VOGON eCommerce Mastermind program that helps you build a plan of growth that will rocket launch you to the moon.
Creating a logo
Once you’ve selected a memorable name and registered a corresponding domain at BleuHost, it’s time to craft a simple logo. I recommend to this with canva.com.
Building your store
With a better understanding of search engines, it’s time to build out your store using a website builder like Shopify. There are many crucial elements to consider. One of the most important one is that you need to create trust on your page by using reviews and real content. Good and easy navigation so its easy for you customer to find what they are looking for.
4. Prepare to launch
There are a number of shipping and fulfillment-related tasks you need to get ready for as your new business's launch approaches. Create an email flow and make sure all sales channels and inventory is ready for launch.
5. Post launch
obtaining your first customers
The challenging task of selling your products starts now that you've launched. While many new business owners should think about selling their goods in person, the other aspects of digital marketing rely on accomplishing one thing exceptionally well: generating qualified leads. Then, we'll discuss a range of marketing strategies that will be useful to you in the coming months. We recommend you to work with an agency to optimize this process, so you can focus on other aspects of your business. Vogon Agency has everything you need to prepare for consistent and sustainable growth.
How much does it cost to start an ecommerce business?
An ecommerce business can be started for as little as $600, which is spent on a subscription and purchasing a theme for your store and some budget for marketing. Ecommerce companies cost less than brick-and-mortar stores because they don’t require the same amount of licenses and permits, and you don’t need to pay rent for a retail space.
If you operate as a dropshipping business, for example, it’ll likely cost less to start because you don’t need to pay for raw materials, inventory, or manual labor. You only pay for products after a customer purchases them. If you’re creating your own products by hand or working with manufacturers, you’ll need to pay for equipment, materials, and labor upfront.
Conclusion
Building your own ecommerce business is as exciting as it is challenging. At a rapid pace you’ll learn a ton about choosing a product, evaluating its viability, figuring out how to get it produced, building an ecommerce website, and marketing and selling to new customers. The process can feel like you’re solving a head scratcher of a puzzle, but it’s rewarding all the same.
We hope following this resource roundup helps provide you with a clearer roadmap. As always, the best advice anyone can give is to just get started and to enjoy yourself along the way. Vogon 1ON1 Mentorship can help you figure out the best path for growing your online business. You’ll have the opportunity to talk through your strategy and marketing tactics with someone who has the experience and insight to get you back on track! Our Agency experts love to help you build your future!