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Starting an ecommerce business is an exciting form of entrepreneurship. Venturing into the world of ecommerce can be a fulfilling way to make money on your own terms, all the while being creative and creating positive experiences with customers. Whether you’re developing your own product, dropshipping, or selling an online course or service, there are so many different opportunities to create a successful ecommerce business. So how do you get started? Read on for the basic roadmap for how to start an ecommerce business.
No ecommerce business is exactly the same and each will require different steps, but if you’re just getting started, here is a general ecommerce startup guide you’ll want to follow.
If you’re only in the initial phases of starting an online store, then you’ll need to figure out the product or service you’re offering. With so many people turning to the internet as their primary form of shopping, the sky is the limit when it comes to the products you can offer. In fact, in 2023, global retail e-commerce sales hit an estimated 5.8 trillion dollars.
Here are some questions to help narrow your research:
You will want to conduct market research, see what competitors are doing, and determine how orders will be fulfilled (will they be shipped or sent digitally)? Research can be one of the most exciting parts of building a business. There are so many different ideas out there, so make sure you take the time to really explore all the options.
Think about your personal skills and how you can bring something new and fresh to the industry. For example, resume templates are a popular product on Etsy. If you’re a graphic designer, for example, maybe you wouldn’t have thought people need and are willing to invest in resume templates, but they clearly do! So ask yourself how else you could contribute your skills to create a product that people value. Even simple products can lead to successful businesses when they are well done, provide value and use the right marketing strategy.
Once you have the basics worked out, it’s a good idea to write an official ecommerce business plan. Even though it may be tempting to jump into creating your website and start selling right away, taking a step back and mapping out your business plan is a crucial step to long-term success. Don’t skip it!
A business plan should contain the following:
Depending on the type of business you have, setting up your business could mean many things. Here are just a few examples of the type of steps you can expect to take to get started selling.
Build your product (if you don’t already have one). If you are starting from scratch building a product, this is a significant step that could involve many different steps, from sourcing to design to speaking with manufacturers.
You’ll also want to decide if you’re offering one product or multiple. Data on the best way to go here are mixed. Customers ordered an average of 4.95 items per order in 2024, which is a strong case for offering multiple products. However, the book Obsessed: Building a Brand People Love From Day One is all about how online brands like Casper, Allbirds and Away succeeded because they initially launched with one very compelling product which resonated with their potential customers.
Every product will be different. An online course will involve figuring out which platform to use, your curriculum and more. On the other hand, if you choose to dropship, which means you’ll be selling a product that already exists, you’ll skip to building a brand identity and website.
Build a brand identity and a website. Your brand identity is an essential part of any ecommerce business. This is what will differentiate you from your competitors. It’s how you’ll stand out and how people will remember you and keep coming back. There are many components that create a strong brand identity including color, style, tone. All of these elements work together. While your brand doesn’t need to be complicated, in a competitive marketplace, it’s a good idea to think about brand identity from the start. You’ll also need to design and build a website. The good news is that there are plenty of tools for ecommerce website development.
Set up a legal business. Check the regulations in your state or country regarding the legal requirements needed for running a business.
Develop a marketing strategy. You have a product, a strong brand identity and a beautiful website. Your next step is to think about how people will find you. What’s your marketing strategy? There are countless ways to market your produce and services online, so you will need to create a plan that best suits your business. For example, social media ads are likely a great place to start. Consider spreading the word through your own personal network when you’re just getting started. Determine a budget for your digital marketing strategy and then get started.
While starting a brand new business can feel overwhelming, it’s important to remember that you already have a ton of experience that can help make you successful. Your previous professional and life experience will help support and guide you in your exciting new venture.