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If you are considering opening an online business, now could be the ideal time to do it. Data suggests an increase in online shopping during the pandemic saw the e-commerce industry grow at a rate that would usually take between four to six years to achieve. Looking at mobile eCommerce statistics, you will see a growing trend. While the everyday impact of the pandemic may be reduced, and bricks-and-mortar stores are open once more, consumers still enjoy the convenience and choice offered by shopping online for their goods. So, the demand for e-commerce stores remains high.
If you are keen to get started with your new venture, you may be wondering how to begin. Read on to learn more about setting up an e-commerce store and make your business idea a reality:
Select Your Products
Deciding what to sell is a crucial decision you will need to research thoroughly. Will you be selling products you have made yourself? Or, will you buy stock from wholesalers and list the products on your site? Researching the demand for the products you plan to sell, and your competitors is vital to ensure your business is viable. Alternatively, you may choose to use a drop shipping model and have orders fulfilled by a third party, so all you need to do is list the products and deal with the customers. Whichever e-commerce model you opt for, it must be based on research.
Write a Business Plan
Writing a business plan may seem excessive if you plan to start a business from your kitchen table. However, a fully-formed business plan is essential for companies of all sizes. Your business plan should detail every aspect of your proposed venture and show what you want to achieve and how you will make this happen. This document provides a roadmap to the success of your e-commerce business. If you hope to secure investors, they will need to see the information included within the business plan before agreeing to give you any cash.
Build Your Website
Once you have decided on the products you want to sell and have written a business plan detailing how you will make this happen, it is time to work on your website. Setting up your website requires a few different steps. Firstly, you need to purchase a domain name for your website. Next, you will need to select a platform for your e-commerce site. Building your website from scratch or using a content management system (CMS) gives you greater control over its design and enables you to add plug-ins to enhance your site. Finally, you will need to choose a hosting service for your site such as nestify.io to ensure it is fast and reliable, with no downtime.
Populate Your Website
Once you have built your e-commerce site, you will need to get to work creating the best possible content to wow your potential customers. Ensuring that you take high-quality images of the products and write clear product descriptions is a great place to start and should help to generate those all-important first sales.