Are you trying to start an eCommerce business right now? Well if so, I have news for you. There are just under a million other people trying to do the same exact thing as you right now. Does that scare you at all? Giving you second thoughts? Well, the good news is that you are going to be just fine, because you have me. 2021 is the greatest year that has ever existed as far as eCommerce companies go. Especially with the pandemic of 2020 (which is still a problem in 2021), it is easier than ever before to start a successful eCommerce business and make some serious money while doing it. If you have a natural knack for business and marketing, as well as money management, problem solving, and entrepreneurship, then you might have what it takes to be successful in the world of eCommerce business. However, there are still some things that you should be aware of before you go all in on this eCommerce business idea. Luckily for you, I am a super experienced eCommerce consultant and have had hundreds of these conversations with people in the past 10 years alone. Therefore, I am going to run you through some of the basics of what you need to know before you get to starting your eCommerce business.
The first thing that you need to know is that eCommerce selling involves a great deal of market research. Are you prepared to put your nose to the grindstone and do what it takes to really understand the world in which you are selling to? Analyzing the market is one of the most important things you can do when starting an eCommerce business, because it helps you identify potential strengths, weaknesses, threats, and opportunities that exist within the market you are selling.
You can also get a better idea of who your competitors are and how best to defeat them and ruin their next family Christmas. That’s right, you are going to need to get cut-throat in this business world if you want to compete with the big dogs. There are also a lot of different types of eCommerce business models, and choosing the right one for you is super important. This will also help you better understand the market that you are researching and how you need to be approaching different market segments.
Another important thing you need to keep in mind is that you will not have any physical storefront or contact with your customers. Rather, everything you will be doing will be completely online, which has its drawbacks and benefits. The important thing to remember is that the only physical contact that your customer will have with you is through your product that is shipped to them. Oh, that’s another thing, you are going to need to take great care to purchase the right kind of shipping materials. Not only does your product have to be good quality, there has to be a need for it. In the business world, we refer to this thing as a niche market. So, you need to be using proper shipping boxes and packaging supplies. The last thing you need is for your product to be damaged during transit, or to hurt the unboxing experience for your customer by not investing in good shipping boxes and shipping supplies.