King of Ecommerce: How to Start an Online Business in 7 Easy Steps
Are you starting an eCommerce business? Or have you always wanted to but didn’t know where to start? Are you full of great online business ideas but you’re not sure if there is a market for them?
If you said yes, then you’re in the right place. Because we’ve got the seven simple steps you can follow to start your own successful online business today. So, keep reading to learn how to get started and run a thriving business online, just follow these seven steps below.
1. Determine the Best Product Line
The days of throwing a smattering of random products on a website and selling products are long behind us. Now, if you want the search engines to pay attention to you and show your store to those searching for your products, then you’ll need to niche down.
Additionally, in order to scale your efforts and see amazing sales, then you need to determine which products have the largest market share. You don’t necessarily need to sell the most popular products on the market, you just need to ensure you will have a large enough audience to grow your business to the level that will fund your dream life.
2. Find Your Market Audience
Once you know what you’re going to sell, your next step is to find who you’re going to sell to. You want to ensure that you will have a large enough audience to run a successful business.
Running a successful online store means that you not only find a product with a large enough demand but that you can find a large enough audience looking for what you have to offer.
In order to validate the market for your chosen product, you need to do your homework. And this includes surveying your target audience, looking through reviews online, and visiting online forums to see what people are asking for.
3. Check Out Your Competition
The key to building a successful business is to see what the competition is already doing and then do it better. Look at what they’re offering and then look at what they’re not offering.
When you were doing your market research in the previous step you watched the forums and reading the reviews, what did people ask for? What was missing that they would have liked to have seen? Sometimes you don’t want to go up against a large competitor head to head, instead, determine where the gaps are that their audience wants to see and offer that product.
Now that you’ve done your market research, you know what you’re going to sell and to whom plus you know where your competition is and where you can fill in the gaps. So, now you’re ready to move on to focus on building your business.
4. Where Will You Get Your Products?
Once you know what product you are going to sell, you need to determine where you’ll get it. Will you order from overseas? How will you determine the quality of your product if you’re ordering from far away?
Or have you created a new product to fill a market need? Will you continue to create it yourself or will you outsource your production? You will need to answer these questions now before you start your business. You don’t want to find yourself with hundreds of orders you can’t fill due to long shipping times or backlog in product delivery.
5. Where Will You House Your Products?
You will need a place to house your products once you get them. And if you don’t want to turn your garage into a warehouse you will need to find somewhere to store and ship your products.
Most companies choose a full-service warehousing company that can not only store your products but also ensures quick delivery. You will want to check out a company such as https://www.fulfilltopia.com/ that will store your product in a temperature-controlled warehouse. They also take care of all your shipping and delivery needs so you can spend your time working on growing your business.
6. Set up Your Online Store
You might be surprised to see setting up your online store at the second to last step in starting your business. But in order to set up an eCommerce business that will be truly successful business don’t jump into this step before you have done all your research.
The good news is that because you’ve done so much research, creating your online store will be easy. You’ll be able to easily craft copy for your products based on what you heard your ideal audience say in your market research.
And you’ll be able to easily set up your shipping and delivery because you’ve already set up your fulfillment center. So, start setting up your online business now, and then you can start to build your traffic to your store.
7. How Will You Market Your Products?
You know who you want to target for your new online eCommerce store. Now, it’s finally time to start marketing your product. To have the best online business you need to have a robust and loyal customer list.
To get this you need to go where your target audience is hanging out online. Are you targeting millennials who spend all day on Instagram or are you in the B2C sector and need to target business owners on LinkedIn? Answer these questions now and be sure to market your products where your target audience is online.
These seven steps all lead to you starting a lucrative eCommerce store and building the business of your dreams. So start at the beginning and don’t skip any steps, they lay the vital foundation you need to grow and scale your business.
Build the Online Business of Your Dreams Today
Starting an online business can be a fulfilling and rewarding business. But it can also be frustrating and stressful if you don’t have a roadmap to follow. Now you know the seven steps to starting your business.
So, get started, keep learning, and growing. You will soon have a highly profitable online eCommerce store and will be running the business of your dreams in no time.
For more great information on this and other great topics, check out the rest of our blog.