Which points to consider when you are working on your eCommerce business?
Starting an eCommerce business is not an easy thing that anybody could do. It requires a lot of research and time & money investment. Along with that an efficient team of designers, planners, and entrepreneurs are required.
What do you know about eCommerce businesses?
The eCommerce businesses are responsible for transmitting the goods and services on all the online platforms. The size, nature and scope of every e-commerce business are different from one another.
The eCommerce business always comes out to be extremely profitable as the recent years have seen the trends of the rising eCommerce businesses.
So today we are going to discuss some of the important tips which will be helpful to start an eCommerce business and make it run within a very few time:
- Step 1: Do you research
Based on the credentials you want to incorporate in your eCommerce business, carry out an extensive research. Here you can take the example of a restaurant. If you will head to open up a restaurant, then you will surely consider carrying out the research on the food items to be incorporated in the menu, the sitting plan and the interior of the restaurants. As all these are necessary to keep experiencing the traffic.
So in that regard, you can consider the following for carrying out research:
- Which products and services will you be selling?
- What kinds of products will you be selling? ( Whether physical or digital)
- How will you source such products?
- Do you have a strong network that could help you to rise high in less time?
- Do you have any tie-ups?
Step 2: Name your business
Once you have planned the structure of your business. It’s time to give it a name that suits the theme and makes the users attracted. While choosing a name you should emphasize the following:
- The name should be unique
- It must be short, simple and easy to pronounce
- It should relate to your business
There is a famous brand which we all have heard about namely BCBGMAXAZRIA. Now this name is no doubt unique, but the reader cannot figure out what this brand is all about and what does the name mean. Even many of them will fail to refer this to their family members or friends.
Along with the choice of the name, developing an ideal legal structure is mandatory. For that, you are advised to consult a legal professional who will help you with the weighing of the pros and cons of the following entity types:
- Sole Proprietary
- General Partnership
Step 3: Do not forget to apply for an EIN
EIN which stands for employer identification number helps you to separate your business and personal finances. This nine-digit number is always required by every business, but still tempted by its benefits many of the businesses consider applying for it despite non-compulsion.
Step 4: Make your business legally authorised
Your business should be legally authorised which means you should be having the permits and the licenses for the same.
Step 5: Obtain business permits and licenses
If you are filing for a DBA, then you may need to get your business legally registered. If the entity type of the business is different from the mentioned ones, then you may surely need to register your business with your state. By doing this you will obtain an operating license which will make your business legally authorised.
Important information to know
Since the eCommerce business is home-based, they do not require so many licenses and permits. Those required can be opened by following a simple and less time consuming legal approach.
Step 6: Take your business online
Today no business can run until it has considered being on the online marketing platforms. Online marketing begins with the creation of the website. For that, you should be hiring a good website designing company that would facilitate you by pricing an all-inclusive package. With that we mean, the SEO services and the maintenance of the social media platforms must be handled by the team of the same company. Hiring two separate companies for these purposes will lead the business owner to chaos and eventually, he may end up giving his project to another company.
An important tip
Fly media technology is the best website designing and SEO company that offers its clients cost-effective and result-oriented packages. So what are you waiting for? Book your appointment with the professionals to know about their packages.
Which things should you consider while taking your business online?
The following things are meant to be considered:
- The domain name
The domain name should be matching with the name of your business.
Based on your needs and specifications, you should decide which eCommerce platform you should be taking the help of.
For example; two kinds of eCommerce platforms are most commonly used i.e Shopify and Magento.
So let’s get you acquainted with some of the best solutions for your eCommerce website:
Here are the reasons for you for considering Shopify:
- All-inclusive features
- User-friendly Solution
- Several add-ons
The predominant beneficial factor of why people consider choosing it is because of the variety in the subscription plans. The users can choose the same as per their financial requirement.
- Open source plugin
- Free to download
- Great e-commerce features
- A lot of the modern templates
- Only two standard subscription plans are available
- User-friendly platform
- A great site for the customisation beads
- Great interface for the beginners
Step 7: Market your business
Once your products are sound and are enlisted on the website, the next task which you have to do is to market your website throughout the internet. For this, you can take the help of Social media marketing, email marketing and even content marketing.
How much will it cost to build an eCommerce business?
Based on the following factors, the estimate for the cost can be made:
- Software used for the eCommerce website
- The chosen domain name and the hosting
- Processing of the payment
To make your eCommerce business effectively running, you should keep it slow and simple. So not expect so much from your website as the higher expectations always lead you to dashing disappointments. Have realistic expectations. Along with that, take multichannel selling into account like consider listing your business with Amazon and Flipkart which encounter the highest traffic each day.