Starting E-Commerce business
E-Commerce Business | Ultimate Guide to start an eStore
The internet has completely changed everything nowadays.
Today, it’s possible to build a business that gives you the flexibility to build a lifestyle you love –
whether that means spending more time with your family, taking an extra vacation, or even just having a little extra “cushion” in the bank so you know that you’re safe.
Since, if you’re reading this, then you know you’re destined for more than just going to work from 9 to 5 for the rest of your life and feeling like you’re not being paid what you’re worth.
Is it because, it used to be the case that the only way to more money and freedom was through expensive college degrees, getting some BSKL job, or taking a huge loan to start a high risk business.
But now, it’s possible to build a life you love by sitting at home on your couch.
In that case, setting up an e-commerce store is one of the simplest, most “tried and true” routes to financial freedom. It’s not easy, but with the right approach, you could build a side revenue stream that gives you the freedom to design the life you want.
To point out, in this blog, we’ll show you how to set up a profitable e-commerce store within one week. And also, we’ll cover topics like how to come up with good product ideas, all the logistics of setting up an e-commerce store, the technical side, and even how to launch your first ad campaign.
Let’s dive in.
1) Generating Product Ideas – (e-commerce business)
Picking the best products to sell is the next big challenge after deciding to start your e-commerce business venture.
There are millions of products to choose from, and all of them have had success. For that reasons, that is why picking products can be extremely difficult which can lead to products being picked on a whim, With little consideration, which ends in poor performance.
In this chapter, our goal is to provide a road map for brainstorming product ideas, so we can later filter out the ones that aren’t worth testing.
Point often overlooked, you never start with a blank page and certainly your head is already full of good ideas: your hobbies, products you like, trends, exciting products that you have heard of.
Secondly, write everything down that comes to mind and It doesn’t matter if you think the product will be a bestseller or not. Trust me — write it down.
Browse Other e-commerce Shops
When you browse other stores, look at their offerings, best selling lists, and promoted products.
In the light of many stores have a tremendous amount of data and employ entire departments to organize
their sales and pick their products. Use that information to your benefit.
Browse a lot and frequently.
Browse Social Shopping Sites
As has been noted, there are over 100 million products on Polyvore and 30
now have an infinite number of products from around the world that can be sorted by popularity, trends, categories, and more.
People often overlook these sites in their research, but they are very valuable.
Set up an account at each one, and subscribe to different categories and lists.
Follow what people like the most and add it to your list.
Must be remembered, the next time you have coffee with friends, ask their thoughts on trends.
Prior to above, don’t limit yourself — talk with friends of all ages and backgrounds to get a wide variety of ideas.
In the meantime, look around your house, your work, your life. Are there any products you can’t live without? What products would make
your life easier? Is there anything that is hard to find in the supermarket or department store?
Howard Schultz came up with his coffee shop idea on a trip to Italy and later called it Starbucks. The founder of Inkkas brought his
idea from Peru, where he saw great shoes he thought that people in the US would like.
Stay alert and spot opportunities.
You see hundreds of products and ideas each day. Be observant, carry a notebook, and remember to write
Chapter’s Action Item
Write Down a List of 50 Product Ideas (e-commerce)
Use the tricks mentioned above and spend some time browsing the web and writing down your ideas. Add them
to an Excel spreadsheet so it’s easier to evaluate them later.
Remember – don’t get hung up on the details. All ideas will require a test. Your goal is just to come up
as many ideas as possible. In the second chapter you will narrow down your idea list so it contains only
the very best ideas.
2) Evaluating Product Ideas – (e-commerce business)
As you may have noticed, generating the product ideas is the easy part but, what truly matters is knowing which products will sell well,
or at least have potential.
to be continue…