We live in peculiar times. People bump elbows or fists to say hello, everyone’s hair is a mess, and clothing stores are losing their shirts. As America gets ready for a second lockdown, people are wondering how they’re going to pay their bills. Starting an e-commerce store is a great way to make some money and have a project to focus on in such a precarious situation.
If you have entertained the idea of starting an online business, there has never been a better time to start one. However, you don’t want to start your business without doing a little research and following the basic steps to make it successful.
Get a Domain Name and Make an SEO Plan
Once you have figured out what it is you would like to sell, you will have to purchase a domain name for your site. Prices will vary depending on what you want to name your company, but costs tend to start at around $10.
When you start an e-commerce site, you will need to write descriptions of the products or services that you offer. If you are selling other people’s products, you should have a written agreement with them.
File the Necessary Paperwork with the State
Before you start making money, you will have to decide what kind of business you want to operate. Do you want to have a Limited Liability Corporation (LLC), a Corporation, or simply a DBA? It is best to talk to a tax attorney and fill out the proper paperwork with your state before you begin operations.
Find an E-commerce Platform
You will want to select an e-commerce platform from which to operate. Sites like Shopify and Amazon are very popular. You can also select a platform that is geared towards your product.
Let the Public Know Who You Are
Before you sell your first product, you can introduce yourself. You can create an “About” webpage and introduce yourself. Let people know what kinds of products you will be selling and your overall vision for your business.
Figure Out How You Will Take Payments
Whether you sell t-shirts, baked goods, or camping equipment, getting paid is very important. You will need to select a payment gateway and a credit card processor. You will have to get approved for a payment gateway, and this can be a rather difficult and time-consuming process. You can use a site like PayPal, but if you do so exclusively you may limit your customer base.
Decide How Your Product Will Be Shipped
Next, you will want to decide how you are going to get your products to your customers. If you are selling a digital product such as a guidebook or a series of exercise videos, you will not have to worry about shipping.
If you are selling a shippable product, you will have to figure out the cost of storing your product, packing materials, and shipping cost. It is a good idea to talk to several vendors before making a decision.
There are some products you can sell that can be produced and shipped on an on-demand basis. For example, if you sell novelty items, there are companies that will print and ship items such as masks and mugs on an on-demand basis.
Starting an e-commerce business is hard work, but if you follow the appropriate steps it can be fun and lucrative.
