More than 79 percent of the US population shops online. Fashion, media, and electronics are the most common items purchased online, but products and services of all types benefit from eCommerce.
With the number of people who shop online increasing by the day, now is the right time to start an online business. Starting and maintaining a successful eCommerce business that stands out from the millions of businesses out there requires planning, however.
Read on to know how to start an eCommerce business.
1 How to Start an eCommerce Business: Determine Your Niche
Find your niche, or “focus area”, to narrow your target audience. To find that audience, look for people who have a problem no one has solved successfully, who are willing to pay for a solution, and who can afford to pay for that solution.
Do keyword research to see what people are searching for and what products or services they need. Avoid a crowded niche, however, and avoid markets dominated by major brands.
2 Write a Business Plan
Before you can start an online business, you need to know your budget, your expected profits, and more. A business plan offers all of these answers.
A business plan is your roadmap, letting you prioritize expenses and showing you how to reach potential customers. Your business plan will also highlight your business’s mission statement to provide investors and employees with a clear idea of your brand’s core values.
3 Build an Attractive Website
You only have a few seconds to grab a potential customer’s attention. Your website needs to reflect your business and must be easy to navigate.
Make it easy to buy goods or services by not using more than two clicks between the potential customer and checkout. Your website has to be mobile-friendly since the majority of your clients will use smartphones and other devices to access it.
Focus on search engine optimization. SEO will help drive potential clients to your site based on keyword searches. To be at the top of a search engine’s results, you need content that is SEO optimized.
Learn more about how to incorporate SEO into all of your content so customers can find you with a few keywords.
4 Learn About Online Business Laws
An online business requires fewer licenses and permits than a brick-and-mortar store, but you still need to follow state and federal regulations.
For tax purposes, decide whether to register the business as an LLC or as a sole proprietor. Most business owners have to pay income tax, and you may have to worry about sales taxes.
Allow Your Business to Succeed
When learning how to start an ecommerce business, preparation is essential including the ecommerce returns solution. Research the market and your potential competitors to find the need customers have that no one else is meeting. Build your business around that need.
Learn more business tips by checking out our Business & Education page!
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