How to start online e-commerce business?
I would like to start an online wallpaper e-commerce business. If you have experience with e-commerce or with starting a new company, could you please share your experience and any tips you have? What are some best practices I should follow, what steps do I have to take to get started? Thank you
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This is a very open-ended question as starting an eCommerce business is very wide in itself. Though I am trying my best to cover all the important aspects here:
Find Your Niche: Before you start something selling online, you need to understand what do you want to offer. Try planning in such a way that you can further expand your business into different horizons and verticals. It would need a lot of research, hard work, and patience.
Define Your Target Market: After deciding what you want to offer, you should know who needs it the most and where. You need to define the persona of people you are going to target and the area (locations) you want to cover.
Choose The Business Model: When it comes to eCommerce, you can either go for Single-vendor or Multi-vendor eCommerce business. If you are naive in the eCommerce industry then I will suggest you first start with a single-vendor and then can further plan for multi-vendor.
Build An E-commerce Platform: This is the most important step if you are planning to start an eCommerce business. Find a solution that has all the necessary features.
Starting an eCommerce business in 2021 would be a great idea since the industry is booming since the Coronavirus outbreak. If you want to learn in detail about the different eCommerce Marketplace niches, then I suggest you read the E-commerce Marketplace Guide.
Presently there are around 400+ eCommerce platform builders globally. And that makes it very difficult to analyze each of them individually and choose the perfect fit for your business.
I suggest going for an eCommerce platform that is highly customizable so that you can get the platform build according to the kind of product/service you are offering. In my opinion Yo!Kart by FATbit Technologies is the best so far because of the following features,
Discount Coupon Management
Intuitive Buyer, Seller, & Admin areas
15 Payment Gateways
Product Catalog System
Separate Vendor Store-fronts
Abandoned cart recovery
Tax management APIs such as QuickBooks, TaxJar, Avalara
Advanced order management
15 Pre-Integrated Payment Gateways
Multilingual & Multi-currency
100% Custom and scalable solution
Building a full-fledged eCommerce website requires a complex approach. As I’m used to say, website development doesn’t really start with coding. It also involves preliminary research and drawing up a thorough business plan.
Here is a detailed guide on how to start an eCommerce business:
- Decide what product category you are going to offer your target audience.
- Pick a business model you are going to use.
- Select a domain name for your website.
- Find a proper content management system.
- Think about your web-design.
- Integrate a payment gateway.
- Choose your shipping partner.
Sure, there are many steps to follow. But you know, feel the fear and do it anyway. This article contains more details on each step and even more. Welcome!