{"id":2107,"date":"2019-02-08T17:19:44","date_gmt":"2019-02-08T17:19:44","guid":{"rendered":"https:\/\/upgifs.com\/blog\/2107\/how-to-create-your-own-ecommerce-startup-from-the-ground-up"},"modified":"2019-02-20T19:49:07","modified_gmt":"2019-02-20T19:49:07","slug":"how-to-create-your-own-ecommerce-startup-from-the-ground-up","status":"publish","type":"post","link":"https:\/\/upgifs.com\/blog\/2107\/how-to-create-your-own-ecommerce-startup-from-the-ground-up\/","title":{"rendered":"How to Create Your Own eCommerce Startup from the Ground Up"},"content":{"rendered":"<p>More than <a href=\"https:\/\/www.statista.com\/statistics\/251666\/number-of-digital-buyers-worldwide\/\">2 billion online shoppers<\/a> worldwide are waiting for a new customer experience. You couldn&#8217;t ask for a better time to launch an innovative ecommerce startup.\u00a0<\/p>\n<p>Before someone else beats you to the punch, you need to act quick.<\/p>\n<p>In this article, you&#8217;ll discover valuable tips to define your startup&#8217;s vision, raise funds, and build a loyal customer base.\u00a0<\/p>\n<p>Let&#8217;s begin with what started it all\u2014your big idea.\u00a0<\/p>\n<h2>What to Do with Your Vision<\/h2>\n<p>No amount of capital can make up for a lack of vision. It&#8217;s a defining factor for every successful ecommerce company.<\/p>\n<p>Ecommerce giants like Amazon, Netflix, Groupon, and Google continue to dominate the space by building upon their original vision.<\/p>\n<p>Amazon, which started as a simple marketplace for used books, routinely sacrificed profit to expand into multiple markets. As a result, Amazon now <a href=\"https:\/\/www.cnbc.com\/2018\/01\/03\/amazon-grabbed-4-percent-of-all-us-retail-sales-in-2017-new-study.html\">dominates over 44%<\/a> of the entire e-commerce market.\u00a0<\/p>\n<p>Vision isn&#8217;t just about innovation. It&#8217;s critical for strategic business planning. That&#8217;s why many ecommerce businesses write vision statements.\u00a0<\/p>\n<p>Vision alone doesn&#8217;t necessarily translate into success, however. Here are several tips for defining, implementing, and maintaining\u00a0vision <a href=\"https:\/\/www.fastcompany.com\/1821021\/defining-your-companys-vision\">according to Fast Company<\/a>:<\/p>\n<ul>\n<li>Be clear in your\u00a0vision<\/li>\n<li>Don&#8217;t make it too complicated<\/li>\n<li>Sell its value<\/li>\n<li>Set goals to achieve it<\/li>\n<li>Stick to a consistent vision<\/li>\n<\/ul>\n<p>Notice these traits in some of your favorite ecommerce brands?<\/p>\n<p>Fast Company uses Disney as an example of a company with a strong, consistent, yet simple vision.<\/p>\n<p>Disney has maintained the same vision from the start, to &#8220;make people happy.&#8221; By not committing to just one consumer market to achieve this,\u00a0they could expand into spaces beyond film and TV, including e-commerce.<\/p>\n<p>Likewise, Amazon&#8217;s similar approach to vision has allowed it to crossover into film and TV, even racking up awards along the way.\u00a0 \u00a0<\/p>\n<h2>Generating Funds for Your ECommerce Startup\u00a0<\/h2>\n<p>If you want to go national, or even global, with your startup, you need capital\u2014period.<\/p>\n<p>A clear and compelling vision\u00a0generates interest, which attracts funding. You have the vision, now you just need the right funding model to bring it to the masses.<\/p>\n<p>Here are a few models to consider:<\/p>\n<h2>Crowdfunding\u00a0<\/h2>\n<p>Thanks to such fellow ecommerce visionaries as Kickstarter and Indie Gogo, you can fund your startup from scratch with crowdfunding. This allows anyone, not just wealthy investors, to fund a project they believe in.\u00a0<\/p>\n<p>Before launching your crowdfunding campaign, research successful Kickstarter campaigns in your niche. Pebble Time and Purple mattresses are two success stories that come to mind.\u00a0<\/p>\n<p>This approach relies heavily on\u00a0social media\u00a0to spark interest.\u00a0You&#8217;ll need a compelling content strategy that inspires social media users to engage and share across all platforms.<\/p>\n<p>The Purple Mattress Company, for example, had a <a href=\"https:\/\/www.marketingdive.com\/news\/how-purple-nets-viral-hits-out-of-video-ads-about-mattresses\/447464\/\">wildly successful video campaign<\/a> on YouTube which crossed over onto Facebook, Twitter, and Instagram.\u00a0<\/p>\n<h2>Angel Investors<\/h2>\n<p>Angel investors are people with considerable wealth who fund projects in exchange for equity. They also have more attractive payback terms than venture capitalist investors.\u00a0<\/p>\n<p>A wealthy family member, for example, could be considered an angel investor.\u00a0<\/p>\n<p>Rather than investing in the long-term viability of an ecommerce startup, angel investors place more value on the entrepreneur themselves.<\/p>\n<p>Growth is a big motivator for angel investors, so they often fund businesses early in the development stage.<\/p>\n<p>Aside from exploring existing networks, including family, you can promote your startup to angel investors looking to connect with new projects.<\/p>\n<p>Try these actionable tips for attracting angel investors, <a href=\"https:\/\/www.entrepreneur.com\/article\/242536\">according to Entrepreneur<\/a>:<\/p>\n<ul>\n<li>Many gravitate toward local startups<\/li>\n<li>Credentials\u00a0are a major plus<\/li>\n<li>Your startup pitch is a big deal<\/li>\n<li>They want to be involved<\/li>\n<li>They want to see solid business plans<\/li>\n<li>Get honest about the numbers<\/li>\n<\/ul>\n<p>These types of investors usually give within the 6-figure range. If you want to raise a million or more from individual investors, venture capitalists may be more your lane.\u00a0<\/p>\n<h2>Venture Capitalists<\/h2>\n<p>Venture capitalist investors take a less personal approach. Rather than investing in the potential of an entrepreneur, they invest in projected growth.<\/p>\n<p>Like angel investors, venture capitalists also fund startups early on. They&#8217;re also willing to invest in high-risk ecommerce companies if the potential for profit is there.<\/p>\n<p>Remember, big risks lead to big rewards when done right!\u00a0<\/p>\n<p>Here are\u00a0a few ecommerce companies funded by venture capitalists.\u00a0Any of these startups ring a bell?<\/p>\n<ul>\n<li>Alibaba<\/li>\n<li>Airbnb<\/li>\n<li>Coursera<\/li>\n<li>Houzz<\/li>\n<li>Blue Apron\u00a0<\/li>\n<\/ul>\n<p>The right investor at the right time can launch your startup into the stratosphere. Ask yourself how you can prove the profit potential of your vision to investors.\u00a0<\/p>\n<h2>Customer Service<\/h2>\n<p><a href=\"https:\/\/upgifs.com\/blog\/2032\/keep-them-coming-back-10-must-know-customer-service-tips-for-online-businesses\/\">Customer service<\/a> is more than just picking up the phone. Once your startup is out of the development phase, immediately pivot to a customer-focused strategy.\u00a0<\/p>\n<p>The process of getting your product in the hands of the consumer is called the supply chain. Supply chain management has become a cornerstone of customer service, thanks, in part, to ecommerce.<\/p>\n<p>Consumers expect immediacy, convenience, quality, and an attractive price at the click of a button. One surefire way to disrupt this well-oiled machine is inventory mistakes.<\/p>\n<p>There&#8217;s nothing more infuriating for a customer than to purchase an item that&#8217;s out of stock, unbeknownst to them. That&#8217;s why it&#8217;s critical to <a href=\"https:\/\/www.dropified.com\/news\/dropified-vs-oberlo\">learn more<\/a> about your inventory options, from drop shipping to physical warehousing.<\/p>\n<p>Ecommerce has also destroyed the concept of &#8216;hours of operation&#8217;, opening the door to 24\/7 customer service.<\/p>\n<p>This has driven more startups to incorporate chatbots, or real-life chat agents, to assist customers around-the-clock, regardless of time zone.\u00a0 \u00a0<\/p>\n<p>Mobile-friendly websites, attractive refund policies, and fast support are more ways to avoid the wrath of your customers online.\u00a0<\/p>\n<h2>From Startup to Established<\/h2>\n<p>Your next step is to\u00a0go from ecommerce startup to household name.<\/p>\n<p>Keep learning from the greats like Amazon, Alibaba, and eBay to cultivate your vision, funding model, and customer service strategy!\u00a0<\/p>\n<p>One thing you should never do is quit. Don&#8217;t stop learning, growing, and building your vision. Stop by often to <a href=\"https:\/\/upgifs.com\/blog\/category\/business-posts\">discover more tips and tricks<\/a> for building timeless brands.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>More than 2 billion online shoppers worldwide are waiting for a new customer experience. You couldn&#8217;t ask for a better time to launch an innovative ecommerce startup.\u00a0 Before someone else&hellip; <span class=\"read-more-span\"><a href=\"https:\/\/upgifs.com\/blog\/2107\/how-to-create-your-own-ecommerce-startup-from-the-ground-up\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How to Create Your Own eCommerce Startup from the Ground Up&#8221;<\/span> <span class=\"genericon genericon-next\"><\/span><\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":2108,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/posts\/2107"}],"collection":[{"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/comments?post=2107"}],"version-history":[{"count":1,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/posts\/2107\/revisions"}],"predecessor-version":[{"id":2196,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/posts\/2107\/revisions\/2196"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/media\/2108"}],"wp:attachment":[{"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/media?parent=2107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/categories?post=2107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/upgifs.com\/blog\/wp-json\/wp\/v2\/tags?post=2107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}