If you’re ready to be your own boss, shake up your routine and achieve your dreams, it might be time for you to start your own business. Once you have a firm idea of what you want to do, you’re going to need a source of revenue. Online revenue can come in many forms, but one of the most common is through a shop.
You may be wondering how to start an online store. There are a lot of options and services for you to choose from. You should do some research to determine which kind of storefront will benefit you the best.
Here are some steps you should take.
1.) Form a concrete idea.
Before you even begin selling products, you need to have your business thoroughly mapped out. Will your choice of product be able to sell?
Consider your potential market, or, consider what products similar to yours are already on the market. How are they performing? Is the market over-saturated with that product, or is there a niche that could be filled?
As you make a plan for how your business will operate, these questions will guide you into creating a successful product.
2.) Choose a platform, host or domain.
Every business needs a website, especially when you’re building an online store. Don’t worry if you don’t have experience in programming or web design – help is available.
With a site like Clickfunnels, anyone can build a website. Clickfunnels funnels the steps into a manageable process. Clickfunnels will capitalize on your existing skills to make the best website for your business.
3.) Product management.
So, you’ve chosen your product, and you’ve chosen a site to sell it through. Now, you have to choose how to store, package and ship your inventory. One of the systems you could consider is called dropshipping.
If you’ve spent any time in the publishing industry, you may already be familiar with dropshipping – since some independent book printers employ a similar method called print-on-demand. With print-on-demand, books aren’t printed until a customer orders them. This means no money is lost on unsold books or storage space.
With dropshipping, your product is produced and shipped by a third party. You’ll forfeit some control over your work, but you’ll also have the brunt of the work taken from you, freeing you up for other tasks.
Print-on-demand and dropshipping both have pros and cons. Consider doing more research to determine which is right for you.
4.) Assemble your storefront.
Building a new business is exciting, but there are some important things you shouldn’t forget; mostly, legal.
Some states require you to get a business license before you can open up shop. If you’re not sure, you should consult with a professional.
Additionally, separate your personal and business entities. You want separate bank accounts, buildings (if applicable), tax prep and other records. In the event your business goes under, your personal entities will be protected; and, you’ll be safe from a tax audit.
5.) Get your name out there.
Congratulations! Your business is all set up. You have a product, a virtual storefront to sell it from, a method of distribution, and all the paperwork is done. What’s left?
Simple – you need to let potential customers know you’re here. There are many ways to do this outside of traditional advertising.
Social media is your friend. Facebook, Twitter, Instagram, Pinterest and others are all tools you can use to promote your products and interact with customers. The best part is, these websites are completely free. It’s easy for anyone to sign up and promote products.
Starting an online store is involved, but it doesn’t have to be difficult. With the right tools, your business will be up and running in no time. Don’t be afraid to try new things, take risks and ask for help when you have questions. If things don’t work out the first time, keep trying until you find success.
Lina Mark is the Partner and Editor-In-Chief at Keulj.us. She loves technology and is always hooked on new technology in the market. You will often find her browsing the web for interesting content (mostly sci-fi and tech). She is addicted to movies (mainly action) and loves to read interesting books every once in a while.