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Description
More and more people are interested in owning their own businesses. The idea of building something of your own, being set free of a 9-5, and not having to take orders from someone else doesn’t sound all that bad, after all.
The flourishing of the internet has made it possible for more people to start their own businesses and we’ve seen a big rise in eCommerce businesses.
Anyone can start an eCommerce business and nurture it into a success with the right tools, strategies, and product in place. That sounds like a broad statement, but it’s true. The problem is that most people just don’t know where—or how—to start.
Choose Your Niche
What do you want your eCommerce store to be?
Do you want to offer luxury pet goods? Comic book subscription boxes or collectibles? Custom-made clothes for toddlers?
You need to have a basic idea of what you want to sell before you can make any other decision about your business. Custom-made clothing, for example, won’t work well with a subscription business model and obviously wouldn’t be applicable for drop-shipping models, either.
Ideally, your niche should be something you’re familiar with or can research extensively. The more familiar with the industry you are, the more insight you’ll have to make your eCommerce business a success.
When you’re choosing and researching your niche, there are a few more things you should keep in mind. These include:
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There’s an audience for what you’re doing. Typically, it’s good to see at least a little competition in a market because that means that there are interested buyers.
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You can offer something different. Realistically, can you bring something different to the niche you’re looking at that isn’t already there?
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Having a niche that’s broad enough. Niching down is good. It gives you better focus and is a great way to start to build your brand. If your niche is way too small, however, you could be limiting yourself. Instead of reselling seventeenth-century first edition novels, for example, it might be a good idea to just have “first edition classics” as your focus.
Select a Business Model
“Setting up an eCommerce store” might bring to mind images of having boxes of products on hand in your backroom to ship out, but while that’s one option, it’s not the only one.
There are a number of different business models available for eCommerce businesses. When making your choice, consider what type of product you’re selling and what would work best for what you want to do.
Flesh Out Your Brand
After choosing your business model, you’ll want to fine-tune your branding.
Branding absolutely can and will make or break your eCommerce business—or at least be a major contributing factor to its success or failure.
At this stage, you should also have your logo designed and start to settle on the look you want to go for.
I can’t overstate the importance of branding, because it is what will make customers keep coming back to you even if you’re selling the exact same product as 15 other competitors. It can even turn a candle into a novelty item people will love to give as gifts for all occasions, so keep that in mind.
Advertise Your Store and Products
Once launched, you can’t rely on users to just start finding you out of nowhere.
Advertising your store through both inbound and outbound means will be important, but outbound marketing will be particularly important when you first get started. You won’t have enough site authority, after all, to be generating a lot of traffic and not a lot of people know to come to you yet. Thus, you need to go to them.
Conclusion
Starting your own eCommerce store will require a lot of careful planning and strategy. That time you spend putting into your future business is an investment.
To minimize the risk and stress, there is a step you can take to avoid costly mistakes and ensure your success. If you are keen to learn all of those mentions above book a seat now and our 7-digit income earner will teach you the tricks.