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Amanda Restu Adzani
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Bikram Kumar Singh
Founder, President & CEO

How To Become an Ecommerce Entrepreneur - Finnegan Pierson - Blog

How To Become an Ecommerce Entrepreneur

Ecommerce is all the rage these days, and perhaps you've been thinking about stalking your own claim to a little piece of the Internet business world. If so, then read on for some tips and tricks about how to become an ecommerce entrepreneur

Find Your Place

First, you'll need to find your place in the world of ecommerce. Since you're going to be providing a product or service to your customers through the Internet, you must determine exactly what you intend to provide. The possibilities are almost endless here. You might be a writer or a web designer, an accountant or a tutor, an editor or a virtual assistant. You could sell handmade crafts or pet supplies or boutique clothing. Choose something you truly enjoy doing or products you would be excited to sell. This might just be your niche.

Draw Up a Business Plan

Next, draw up a business plan. Don't skip this step, even if it seems a bit tedious. Your business plan will help you pull together all the elements of your company and stay on track as you begin operations. Start with a description of your company and its purpose. Then describe your products and services. You should include sections on goals, tasks, finances and marketing, too.

Get Your Finances in Order

Now it's time to consider your finances. If you need some money for start-up, perhaps to purchase inventory or equipment or to begin marketing, you might consider taking out a small business loan. Check with your local bank or credit union, or do some research on government loans. Just be sure you understand all the terms and expectations.

You should also set up an accounting system for your business, make a budget and open a business account online. Always keep your business finances separate from your personal finances. Be aware, too, of the taxes you'll be required to pay, in terms of both sales tax and income tax, and get some help from an accountant or tax preparer if you find yourself confused and frustrated.

Think Marketing

Since you're starting an ecommerce business, your marketing will lean heavily toward digital sources. Your website, for instance, will be one of your best marketing tools. Make sure that it is clear and easy to navigate. Your customers should be able to find and order what they need in only a few clicks. Your contact information should be front and center so that customers will know where to turn with questions or problems. Your website's security should be top-notch to give your customers peace of mind.

Also, create social media sites for your company on several platforms. Update them frequently with information about promotions or sales, fun facts or other interesting information. Even consider sending out an email newsletter once a month after you've established a customer base. This will place a reminder about your company right in people's in-boxes.

Develop a Routine

When your ecommerce business is up and running, you'll need to develop a solid routine in order to receive and fill your customers' orders in a timely fashion. Come up with a set of procedures that detail what needs to happen when an order or service request comes in. These might include handling payment, sending an order acknowledgment and receipt, getting the product from your supplier, shipping the product in a timely fashion and fulfilling the service request. Be sure to answer all messages and emails quickly and efficiently as well. Your customers will appreciate your meticulous service.

Reassess Your Situation

Finally, set aside some time to periodically reassess your situation. As your business grows and you become busier, it's easy to get overwhelmed by activity and neglect this, but it's essential. Go over your business plan, budget and marketing strategies. See if your procedures are working well and whether or not you're retaining your customers. Make changes as needed.

An ecommerce business can be extremely profitable and enjoyable. So do your research; make your plans; and become an ecommerce entrepreneur.

Publish Date: June 24, 2022 4:04 PM

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