The Internet has brought a profound evolution in the way people live, communicate and earn. In the bygone days, starting a business would take a plethora of resources, such as a land, a store, a godown, a stock of product and customers through marketing; marketing the business was as daunting as setting up the business.
With the introduction of e-commerce, things have thoroughly changed and businesses and trades have moved to the Internet to a great extent. E-commerce websites have slowly become the world's leading business ventures, which many are eyeing to enter. Starting from marketing the business to acquiring products and delivering them, the whole process has taken a new shape thanks to this new concept of e-commerce.
Youngsters are largely moving online and even if a lad has a business idea in mind, there's no substitute for starting a business through the Internet. Having said that, let's have a look at what is the standard way to start making money through e-commerce.
Finalise The Business Name
Finalising a business for an e-commerce platform is not just sitting and pondering over the most attractive name. Once you have decided the type of products you want to sell, you need to research on what names you can take which haven't been taken by someone else. It should also suit your business type and make sense to the customers.
Buy A Matching Domain Name
Once your business name is finalised, the next step would be to secure a matching domain name. But, there's a catch with this as you may know most of the domain names are already secured by other business owners, especially the most common ones. In this case, you can shuffle the words for the domain and get one similar to your business name.
Design A Fantastic Website
By fantastic, we don't mean very fancy. You need to make a website which is extremely easy to operate and to navigate through pages. This helps potential customers to buy products easily from your website and does not annoy them due to complexities while accessing desired pages and information.
Designing a website is a task which requires quite a bit of expertise. You can find various website-building firms on the Internet or it would be better if you consult an experienced person for this.
Acquire EIN And Business License
Business Licence and EIN (Employer Identification Number) are two of the most important possessions which you need to legally register your business. EIN is important for opening a business bank account and for filing your business taxes.
A business license is mandatory for registering your business with the government and to get a tax registration certificate. This license is granted by the city authority for which you need to consult a government agency involved in this work.
Consult Product Vendors
Now, once your online platform is almost ready, all you need are the right set of vendors and manufacturers to source the products which you will sell on your platform. There are various ways to find such vendors who are willing to go online. You can go out and meet them in person or you can find them online, which is an easier way.
Run A Full-fledged Marketing Campaign
As I have said earlier, marketing your business might be as tough as setting one up. Although the Internet provides various ways to market your business (through social media, e-mail and SEO), the existing high competition could make this challenging. Thus, either learn the basic digital marketing tactics, or if you have enough capital, hire a special team for the job.
Provide Great Customer Service
In the effort of selling products through your platform, you shouldn't forget to execute excellent customer service, which is the key to retain your customer and keep the necessary momentum of your business. You should be available for your customers 24x7 and being humble and helpful is the secret of successful e-commerce business owners.