Starting your own business has never been easier, thanks to the invention of the internet. Anyone can open an online shop and not have to worry about finding premises or determine the best location in which to establish it. The internet enables you to start a business from the comfort of your home — a company that reaches customers in all corners of the globe. Here is a quick guide to starting an online business.
What Will You Sell?
The first thing you have to do is figure out what you will sell in your online shop. The best way is to decide if you want to sell a commoditized product or a niche product.
Commoditized products are essential, high demand, or popular goods or services that can be physical or digital. These are products that everybody needs. Niche products are unique items that are suited to a specific customer base.
Check out the market and try to discover where there is a gap for niche products or how you can sell popular products at a better quality or price. It also helps if you sell a product you believe in and have an affinity with, as it gets you through tricky times if you are passionate about your wares. If you enjoy cooking and food, choose to sell gourmet foods or cooking supplies.
How Will You Sell It?
Once you decide what you want to sell, you need to figure out ways to sell it. There are several eCommerce websites such as Etsy, eBay, and Shopify. These sites allow you to open an online shop with photos and videos of your goods and various methods for fund transfer.
If you sell online, building your own website is essential. Design a website yourself using a template or pay a professional to do it. Include high-resolution photographs of your products from all angles and concise descriptions of ingredients, dimensions, and product uses.
Entice customers with a clear, easy method of navigating the website. Add interest with videos of your products. Find a local video production company in your area, such as South Florida Video Marketing Company, to create a professional advertising video for your business.
Add a blog to your website and make it entertaining. Regularly adding pages to your site will increase your chances of getting traffic from search engines.
Advertise It
Reach customers from all over the world by posting adverts on social media websites or setting up accounts or shops on such platforms. On Facebook, you can open a shop with photographs and videos of your products, or you can pay to post an advertisement on Facebook pages. Having an online business means you are open for business 24 hours a day, 7 days a week.
Get Supplies
Before launching your business, make sure all necessary systems are in place to process orders efficiently. Ask yourself the following questions: Can I source all of the items I need? Is my stock stored so I can find it easily? Do I have a supply of packing materials? How will I ship goods? How can I be sure my suppliers can cope with demand? Can I keep up with my customers’ requests alone, or do I need to employ assistants?
Whether you make the product yourself or buy products and sell them at a higher price, you will need to find suppliers. Look through trade directories, websites, and local newspapers for suitable companies. Trade shows are a useful way of finding suitable suppliers, but at the same time, you can scope out the competition and build a rapport with other tradespeople who may pass on useful advice.
Ensure that the suppliers you find are reliable and legitimate. Ask for recommendations from other traders or search for customer reviews of the wholesale company online. Compare prices and look for good-quality goods. You want your finished product to be of high quality. Don’t be tempted to buy cheap supplies that will destroy the image of your company. Go for quality but also don’t overpay for it as this will increase production costs. Work out how much it will cost to make your product to a high standard, and if you will be able to charge a competitive price for it and still make a profit. Also, choose suppliers who can deliver your goods in a short space of time — you don’t want to lose sales because customers choose to buy from another shop with quicker delivery timespans.
