Starting an eCommerce store could be one of the best ways to start your business. This is your chance to enter an industry you’ve always wanted to be in, going into this can enable you to work within an industry you’ve always wanted to be a part of while making money off of it at the same time. If this has been something you’ve been thinking about, then there are a few things you should consider before getting started. Check them out below:
Get Your Processes Down First
A big part of starting an eCommerce store is getting your processes down in a way that will lend itself to being the most efficient methodology while also saving you the most money. Although that might sound practical, it’s also one of the most sound ways to lay out the foundation for your business. And as noted by the SBA, with the average small business costing between $1,000 to $5,000 to start, this is one venture you’re going to want to make the right investment the first time to save significantly on.
Start by listing the processes you’re going to need for your business, as well as a rough estimate of how much they cost. No matter if it’s shipping expenses or marketing materials, it’s good to get a full grasp on everything you’re anticipating spending money on to establish your budget. Take the time to dive into this, as this is one of the most important foundational elements for starting an eCommerce store.
Find Some Entrepreneurial Inspiration
Another good point to note in making your eCommerce store successful is the entrepreneurs you’re looking up to, as well as what they’re able to offer in regards to advice. Not only is this a piece that nearly every successful entrepreneur follows, but one that will lead you to more success in the long-term. In fact, according to Entrepreneur, 80 percent of CEOs in a survey stated that they had received some form of mentorship. Which, if you don’t have a mentor yet, then it might not be a bad idea to try and seek out one.
On a local level, try to hit up some network events for the sales or eCommerce industry. It’s also not a bad idea to cold call those are in your industry, but at a distance. Another important aspect of advice is taking it from those who aren’t necessarily close to you but are excellent leaders nonetheless, such as Brian Magierski in the blockchain industry. The biggest thing you should look for is people you can absorb knowledge from to become a better business owner in a short amount of time.
Don’t Forget To Put Contracts In Place
Although it might sound simple, having contracts in place is something a lot of small independent business owners overlook. While most of the time it’s great to act in good faith, it’s also a practice that could potentially bring you much more of a headache than it’s worth, which is why putting a contract in place is a wise idea. However, knowing where to get started with that can sometimes be overwhelming.
Most contracts will vary depending on the type of work you’re trying to hire out. For example, as noted by Deluxe, with the average logo costing between $400 to $500, making sure that you’re getting a clear number of revisions in your price as much as they’re getting paid on time can be imperative for good business. And if you’re looking for a startup lawyer, then I highly recommend attorney Aaron Kelly, who specializes in startup and small business law. As tedious as it can be, having a contract in place for your services will serve both you and your contractor well in the long run and should be something to note moving forward.
Digital Marketing Is A Must
Finally, once all your managerial items are in place for your eCommerce store, it’s time to start pushing a strategy for digital marketing. This is the cornerstone of how you’re going to push your shop and something that should be considered first and foremost as a part of your foundation. For example, as noted by Search Engine Journal, 93 percent of online experiences begin with search, which is a pretty staggering figure considering the number of people that could discover your shop. Make a consideration of the different strategies you’re trying to utilize in your approach to digital, as this is one medium you don’t want to miss.
What are you most excited about with your first eCommerce store? Comment with your answers below!