Do you have big plans for launching an ecommerce business, but are unsure of where to start? The beginning of a new year is the perfect time to make those aspirations a reality. Believe it or not, the process is not as complicated as you might think. With these 9 easy steps, you can have your online store up and running quickly.
- Pinpoint a High-Potential Product
Of course, the first place to start is identifying the product you want to center your business around. The key is to choose a product that has both global demand and can easily be warehoused and fulfilled. The product should also be something you are highly interested in and passionate about. After all, you are going to be devoting a lot of time and energy into making sure the business is a success – a task that will be much easier if you are enthusiastic about it.
- Choose a Business Name
Once you have identified a high-potential product, it is time to choose a business name. Your business name needs to be both unique and memorable. To ensure no one else is using the same name, be sure to conduct a corporate name search.
- Secure Your Domain Name
Ideally, you will want to secure your business name as your domain name. However, if it is unavailable, you can choose a creative URL that is easy to say, spell and related to your business and products. Be sure to avoid numbers and hyphens, and spend a little time doing some research before you make a final decision.
- Establish Relationships with Vendors
Finding a manufacturer is key to running your online store efficiently. You can have the greatest product on the market and endless website traffic, but if your manufacturer cannot keep up with demand, you will experience obstacles with a staggering domino effect. Take your time and interview each potential manufacturer and ask for further details on both quality and price.
- Organize Fulfillment and Shipping
The next step is to decide if you can handle (or want to) the order processing and fulfillment in-house. A huge determining factor will be the type of product you are going to sell. Small items will be much easier to fulfill in-house. As far as shipping, focus on overall customer experience (e.g. provide tracking numbers) and speed (e.g. two-day shipping).
- Develop Your Website
If planned correctly, you can have your entire deign and layout finalized in a matter of days. You will then need to choose a platform. If you are tech-savvy, you could build the site yourself. If not, there are plenty of platforms to choose from that make this process simple and straightforward. Make sure all information on your website is easy to understand, products have clear images and any sizing charts are easy to find.
- Identify Specific Revenue Goals and Create a Budget
To see the bigger picture and identify your goals, it is critical that you first know your numbers. How much does your product cost? What are the shipping costs? What are your merchant processing fees? What will your daily operating costs be? Managing financials and creating a budget is key to long-term success.
- Start Marketing Campaigns Early
It is important to include long-term components in your marketing campaigns (e.g. search engine optimization). However, it even more important to focus on generating sales immediately. This can easily be done by launching Facebook ad campaigns and utilizing Instagram.
- Launch Your Ecommerce Business
Starting a new business is accompanied by an overwhelming pressure to get everything right from the very beginning. Refrain from waiting until everything is perfect. Any business venture will require constant testing and changes – it is a huge part of growth. As the saying goes, “If at first you don’t succeed, try, try, try again”.
If you need help in securing ecommerce payment processing services, or you simply seek helpful information and tips, consider cashflows review via Bestpaymentproviders. Secure the services you need to provide the best payment processing options available for your customers and boost your business’ growth.
Author Bio: Electronic payments expert Taylor Cole is a passionate entrepreneur who enjoys to write, produce music, and travel. Bestpaymentproviders is the UK’s best cashflows review company, serving both traditional and high-risk merchants.