+919999805123 [email protected]

How to start an ecommerce business

What is E-commerce? 

You might have heard about this term a lot in the previous years, E-commerce also known as electronic commerce is counted as a growing industry and capturing the market more than the traditional form of business. Especially during the tough times of the pandemic, the e-commerce industry has covered even the traditional markets and business, and every big and small venture is shifting to e-commerce to grow their business worldwide. It is considered the easiest form of business given the benefits of doing it from your own home.     

  • Can be started from very less investments
  • Easy to commence
  • It is haste free
  • Also can be easily carried out through the use of only laptops and cell phones.

Now the question arises how does an e-commerce business generally work and how can you start it?

 Starting an e-commerce business is not the actual task when it comes to commencing a business or an e-business, the actual task when it comes to e-commerce is choosing the field in which you are interested in or whichever has the highest popularity base in the consumer market. One of the major advantages of e-commerce is that it’s global. You can sit at your home, operate from here laptop and easily can work from wherever you feel comfortable. The e-commerce industry has a very wide range of options to choose from clothes to accessories to even the minute details of our day-to-day life and the things we use daily. It has also added a major advantage to the female population in the world giving them the confidence to commence their own business and freedom to earn. Especially during the pandemic when all the traditional forms of Business were failing and all the multinational firms were cutting off in the number of employees and most people losing their jobs, e-commerce provided them a way to sustain and maintain their livelihood with just little investments to earn. It was very simple and easy to start any business or join the group of e-commerce markets even for the youth and with the presence of social media, everything has become very accessible and easy. Now we will see how exactly we can start any business or join the e-commerce world. 

The process of commencing an E-commerce startup 

Choosing an e-commerce trend: Ecommerce trends mean, what is popular in the market, which fashion trends are in high demand, how people prefer to shop nowadays is it going to the shop or simply opening a website on their phones, laptops. Today’s youth is driven by famous fashion statements and ongoing trends following the beauty and fashion influencers in the market. They prefer cruelty-free brands and are completely aware of the environmental issues and hazards. 

What products to sell through e-commerce?

 This particular question is a strategy in itself, all your further decisions like marketing, branding and website designs will be influenced by your choice of products that you want to sell online. Regardless of whatever category you choose to work with, they are divided into two paradigms:

  • Commoditized products: Essential products and services that you can use on a daily basis that can be physical or digital. The products which make majority of the sales online example like food, clothing, toys and so on that you think of buying from amazon.
  • Niche products: These products are of a kind that serve a specific customer base and product category, unique one of a kind products or handmade that are famous on online stores or shopping portals.

“If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find a solution for a problem in your own life

             – Airbnb co-founder(Brian Chesky)

 

Resources and supplies: No matter which trend you choose to follow every big or small or even the traditional businesses require a good of raw materials, you’ll have to go through many stages of trial and error to choose one good effective and efficient resource factor for your business. 

Creating websites:  It’s the most crucial part of E-commerce because every activity buying and selling in the business will be carried out through your website which should be very smooth and easy to understand with a good customer service base. An e-commerce business completely depends on the customer reviews and the quality of your products or services. 

Use of social media and other channels: This term to conduct and grow your business through social media is the newest form in the field. Which has indeed proved to be very successful in giving fame and fortune to everyone, whoever faced a lack of opportunity earlier. 

 Market research and target audience : the most important aspect when it comes to marketing is choosing a target audience, creating assumptions will definitely act as a con when it comes to organizing and launching your products, instead we should use both qualitative and quantitative research when it comes to arrive at our decision. Also, we should aim to improvising and narrowing down the strategies and audience. 

How can we do that?

  • Getting a thorough understanding of your target audience 
  • Understanding customer behavior 
  • Keeping an eye out for new business opportunities.

Ecommerce demands creativity: from your website to the way you display your products and services you have to be creative and up to date with the likes of the trends and customers to attract more people. This form of business is indeed very competitive but also very profitable if understood, planned, and implemented in the right way. 

So what are you waiting for!!! Go ahead, take the leap of faith and jump-start with your creative ideas. 

Top five things to consider when scaling online business: 

As your business starts to take flight, growing little by little, planning for future growth and efficiency is important. Today’s business leaders should be aware of every present and plan for their businesses. 

  • Plan ahead : Planning is a term that is vital for your business no matter in which aspect your business is at, to plan is to set goals ahead systematically arranging the thoughts and strategies. Here are some of the aspects you can work on:
  • Renewing your domain from time to time, keeping up with the trend.
  • Working with remote and freelancers, first hand on the excellent allocation of human resources.
  • Translating your business to make it available worldwide.
  1. Funding your business: Commencing businesses are faced with the utmost responsibility of allocating and managing the finances carefully to cover the most and increase the profit margin. There are several ways to get funds for your business but it also depends on your business potential and how you present it.
  •  Pitching for investors.
  • Scholarship and grants (yes they are not only for students).
  1. Monitor your business performance and analysis: Having a direct insight on how your business is growing. Sales performance is the first metric when it comes to measuring business growth, it is the key indicator to your scalability reflecting the growth of your business. Other aspects:
  • Product performance
  • Lifetime value: Cost per acquisition 
  1. Building business traffic: To stay engaged and create more crowd for your business, building off existing interest is a great way to optimize growth. Depending on the nature of the business, you can follow these given aspects:
  • Hosting a webinar
  • Including your business story on your landing page    
  • Enhancing your email marketing strategy and subscriber list.
  1. Build-on your resources: Determining both human and technical resources in your business. When it comes to these two crucial aspects of business, from hiring a content writer/SEO for enhancing your content to installing different efficient software to conduct further market research.

  1. Invest in efficient automation: effective and efficient use of technology in the most possible manner from building an application to development services. 7Gravity is a scalable platform with easy-to-upgrade plans and advanced features empowering you to create the best platform and enhance your growth.

Get Instant Access to Financial News & Advice

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation