Back in the day, people who want to build their own businesses would literally have to build a brick-and-mortar shop to sell their products. However, with the advent of modern technology, we can now sell products online through an online platform.
E-Commerce has become quite a lucrative way of earning a lot of money. The idea is to basically have a store that can be accessed online. This provides many benefits to entrepreneurs in that they can cater to a much broader audience while also saving some capital by running a store online such ecommerce website development instead of actually creating your own building to house your products.
If you do not believe the success of e-commerce businesses, a Shopify survey back in 2014 revealed that $1.3 Trillion in revenue was due to online stores. It is projected to earn more than $4 Trillion in 2021- so the trend is definitely going in that direction.
One of the challenges of creating an online business is that you have to establish trust since people are not going to see you face-to-face. Still, it is quite easy to build trust through online reviews and by creating a blog platform that will allow you to communicate with your customers easily.
So, how do you build your own e-commerce business? Here are some steps:
Deal with Some Red Tape
Before you can start operating your own online business, you still have to get the necessary permits and licenses first.
Register your venture as a business entity and then get the necessary licenses as well. Even though you’re pretty much going to run an online store, it still doesn’t excuse you from the fact that you need to pay taxes as well.
You also need to think about your business structure: are you a sole proprietor or you’re running the business with a business partner?
Using a Platform
For your online business to start, you will need to use an online platform. This is like having your own virtual store where people can buy your products using this method.
Anyway, there are a couple of platforms you can choose from, such as:
Shopify- Offers a simple and easy-to-use platform that is based in tiers. You can get a starter platform for $9 a month or you can try the other payment models as well, albeit for a much more expensive price
WooCommerce- This is basically a CMS plugin that you can use to help elevate your platform into something that is much more suitable for businesses. It may require some technical knowledge to fully tap into its potential, but it is really a good platform to use.
Squarespace- Allows you to create stunning websites with different functionalities.
Share Your Platform
By this, I mean that you start marketing your business via social media. Social media has become an integral part of our lives which makes it a suitable platform to market your own business.
Start by creating a business page and then share the links to it on your own personal account. Your friends and family will be able to see what you’re offering and would then keep in contact with you if they want to buy something.