Just a few years ago, it seemed a fantasy to start an online business, but with the success of numerous small and large online businesses and other changes it has become possible for anyone to start his/her own small online business.
Recent changes have removed any technology barrier as now anyone who can read or write English (or any other language) can find all the information about the tools required for starting an online business.
In this article we will explain the whole process of starting a small business online in a few simple easy and easy to follow steps.
Set A Business Plan
New comers often assume that as they have everything in their head so they don’t need to write down a plan on paper. Mental calculations can work in some scenarios, but starting a business without a written or printed business plan is a sure recipe for disaster. Having a well-defined plan covering all the necessary items, profits, sales, investment figures will give you an edge and will allow you to get a feel for every aspect of the business.
A business plan can also serve as a helpful tool if you want to invite outside investors into your venture as most investors and even family members or friends will like to see at least projections of future sales and profits before committing to anything.
Research The Goods Before Going To Sell
Perhaps this is the most important step for starting a small business online, as a large part of your success as an online entrepreneur will depend on the types of goods you are selling.
Price of the goods are also vital factor to deal with cheap goods or goods with low profit margin that you’ll have to generate higher sale volume for reaching your targeted sales figure.
You must also consider the needs of your target market as even a single user demographic can buy or not buy goods based on the price or quantity of goods.
Such as, certain goods can be sold either in batches or individually and this can effect on your sales. Because many buyers may hesitate to buy an item in large quantities if they only need a piece or two.
Choose The Right Platform
Now setting up an eCommerce store is not a big deal because several highly-sophisticated eCommerce software are available online. The best thing is that now you can set up your online shop with a very small investment sometimes in the region of $30-40 per month.
Millions of small business owners have set up their online stores with shopping platforms, such as Shopify.
You must carefully study all the features, pros and cons of each eCommerce software and only then select one as switching from one eCommerce platform to another can be a headache later.
Remember that you are going to spent a huge amount of time in managing your store, so an ideal eCommerce platform must be easy to use and have all the features which you need.
Set Up A Website For Online Small Business
After choosing an eCommerce software, the next step is to buy a domain name along with hosting. If this is hard, you can decide to go with the hosted eCommerce solutions provided by many eCommerce vendors which make setting up an eCommerce store a matter of few clicks.
Most eCommerce software have drag and drop features and a ton of themes for setting up a website. The process to add shopping cart, forms and category pages is also easy and you need not to do anything other than adding basic information such as descriptions, images for your products.
You may also like to read:
3 REALISTIC PROCEDURE TO INCREASE PAGE AUTHORITY
7 SIMPLE STEPS TO INCREASE YOUR DOMAIN AUTHORITY
Make Arrangements For Logistics, Inventory & Shipping
Now the last step will require both online and offline work and a bit tricky. Now you’ll need to sync various things such as inventory, logistics and shipping.
If you take your products from manufacturers or dealers and sell it to the customers or visitors, you’ll need to keep an eye on inventory and also link the inventory to the eCommerce platform.
It’s not hard to avoid the whole inventory management if you are using a drop shipping service where you just take orders and pass them to another dealer or wholesaler who then ships the goods to the buyer from their own warehouse.
Here, you must have to set up the shipping information which is easy to do if you are shipping within a country or internationally. For buyers must have the option to use normal or accelerated shipping.
Most of the eCommerce platforms are equipped to set up shipping rates based on the type of shipping distance. Easily, you can use API of various shipping and courier companies. This will allow the final price to be updated before checking out accounting for the shipping costs.
Also, platforms such as these have quite advanced API features and can easily integrate with outside services.
As you can see from the above points, setting a business online has much in common with setting a normal brick and mortar business. Both require a significant investment in terms of planning, energy, money and time. But if done right can change your life.
Although, initially this may sound as lot of hard work and you must expect to spend initial few months working hard, in the end results will prove that all the work was worth the effort as if done right you can become the owner of a business which can be easily controlled from any part of the globe through internet.
With the above mentioned easy to follow steps you can avoid mistakes as it happens at the beginning by most of the online business owners. So, to set up a small business online, you can easily follow the mentioned steps.
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