Many people are getting involved in starting an ecommerce store is due to the invention of modern technology. There are still rooms available for those who want to own an online store and enjoy some of the benefits.
The top five firms in the globe own an online store on the internet. Some examples of these top firms which owns online stores are Baidu, Konga, eBay, Uber, Amazon, Expedia and among others. Let’s understand the meaning of e-commerce.
Definition of e-commerce
E-commerce can be defined as the process of buying and selling of goods and services on the internet.
Process of e-commerce
Starting an ecommerce store or online store is not enough. There are some basic things one need to know before owning an online store. What you want to sell on your online store should be something that will provide solutions to people’s problem.
A vast population of the world make use of the internet. This shows you the reason why you should tap into the wealth that is available on the internet. When once you have anything to sell on your online store, you are sure of making money on the internet. The main thing is to pick a product that will sell itself.
9 Steps to Start ecommerce Business
The following are guidelines in starting an ecommerce store:
- Map Your Business Plan:
A business plan acts as a prototype or roadmap for your business. It helps you run your business from the set up to when your business becomes fully grown. When there’s a business plan you know what you want in your business and what you don’t want. In a situation you don’t have funds to run your online store, you can source from funds from family, friends, business angels or venture capitalist etc.
- Rent an Office:
Renting an office when starting an ecommerce store in is so important. You don’t need to get a duplex, but an apartment that can contain some of your important equipment will be conducive for your work. There’s the saying which says, “The journey of a thousand miles begins with a step”. It is advisable to start with the little you have and as time goes on you can expand your working space.
- Design a Website:
A website is important since it is going to be your online store. It is advisable you employ the service of a professional website designer to give you an eye-catching design. Your website is where online transactions are going to take place. There are several costs for setting up a website depending on the design and the person who’s going to design it.
- Purchase Office Equipment:
In starting an ecommerce store, there is office equipment for you to buy such as the scanner, modem or Wi-Fi, computers, stationery or photocopier. In the event of electricity failure buying a generator is essential and also a bike to dispatch goods and products to buyers. You can buy one bike for a start then gets more bikes later. All these must be in place before you start your business.
- Employ your Staff:
You need staffs that are competent in starting your ecommerce store. E-commerce business is a business that’s growing very fast in the world. As a result of this, you will need more hands-on desk such as more staffs and dispatch riders to make work easier for you. The major problem you are going to have will be your dispatch riders. Therefore, you must be well prepared by hiring a human resource manager and digital marketer.
- Register your business:
The next thing is for you to register your business with cooperate affairs commission. When you register with CAC your business activities become legal and well recognized. The purpose of registering your online store is to rebrand your business. A fee will be given to you for you to pay and after that, your business will be registered.
- Choose your method of payment:
This is an important aspect in owning an online store or in starting an ecommerce store. The method of payment you want to use must be a safe and secure payment for your clients to make payments. There are several methods of making payments such as a master card, visa card or verve card. One of the following will be used by your clients in making payment.
- Advertise your business:
Promotion plays a vital role in starting an ecommerce store. Therefore, you can advertise your online store by running online campaigns on different social media platforms. Facebook is one of the following social media tools you can use to advertise your business. Many online entrepreneurs have gotten huge profits as a result of advertising on Facebook.
- Advertise Your Product or service:
The only way of creating awareness about what you do is through advertisement. This can be done either offline or online. This might come after you have set up all the necessary things for your business. If you find this to be a difficult task, you can hire a digital marketing expert to help you out in creating geometrical sales for your online store.
For you to be successful in starting an online store is to have a product that will be marketable. If you can follow all these steps in this article, then you are on your way to becoming a successful online entrepreneur.