Launching An E Business

Launching an E-business
Starting an ecommerce business is a tough job and has a series of steps and
decisions that need to come together at the right time.
1. Choosing a Product/Finding a Product to Sell

The first step to building an ecommerce business is to know what products one
wants to sell. This is also the most challenging part of starting a new online
business. There are various strategies that can be used to find product
opportunities, explore the best places to look for product ideas, and finally we will
reveal ten trending the products to be sold.
2. Evaluating the Idea

Once one has the product idea in mind, he/ she has to find the feasibility of the
idea. There are exhaustive evaluations methods, evaluating both the product itself,
as well as the market for the product choice. One has to analyze the competitors,
understand the market trends and demographics, This step is also important as
starting a new business can be a little scary especially when one is unsure in the
product idea. However, taking the time upfront to better understand competitors,
the market and doing some testing can help build confidence and save time as well
as money.
3.Obtaining the Product

Having got the product idea and evaluating them, next step is to figure out where
and how one is going to obtain acquire the products. The four most common
methods of acquiring your products and inventory are
Make : This method involves primary costs associated with making ones on
products include the purchasing of raw materials, storage of inventory and labour
and other overhead cost. However the product choices are limited to ones skills
and available resources Some of the businesses adopting this method deal in
Jewellery, fashion or natüral beauty products etc. Making products allows for the
precise control over quality and the brand but comes at the cost of limitations
time and scalability
Manufacture: Another viable option for acquiring the product and inventory
to find a manufacturer to produce the product. When sourcing a manufacturer
one has to decide whether it should be sourced domestically or from overseas
Manufacturing the product is a good idea for those who have a unique idea or a
variation of a current product that doesn't exist currently. It may also be feasible
for people who have validated the market for their product and are fairy
confident that their product will.This is important as manufacturing will
require the greatest financial investment for the products and inventory.
Wholesale : Buying wholesale is a fairly simple and straight forward process It

involves buying the product Inventory (usually other brands) direct from the
manufacturers or from a middleman supplier at a discounted wholesale rate
which in-turn, can be resold at a higher price. Buying wholesale is a lower risk
business model compared to manufacturing for various reasons like:
 One Is dealing with brands that are already established to some extent and
validated in the market so there is no risk involved of developing a product
no one wants
 One doesn't need to purchase as high of a minimum order compared to
manufacturing one's own product
 Minimum orders will depend on the manufacturer and product, however
they are usually reasonable and can even be as low as one unit per Stock
Keeping Unit (SKU) if one is dealing with other smaller brands
Purchasing products wholesale is a good option if one wants to sell off his goods
quickly or sell a variety of products and brands. Wholesaling provides a wide
range of opportunities as there are many products available for wholesale.
Dropship : The concept of dropshipping is selling products one does not

actually own Working with dropship partners is not only a product acquisition
model, but also includes product fulfillment. The process works by taking orders
from online business and forwarding them to the dropship partner. They in tum
ship the product to your customer on behalf of your company. The key to
making money with drop shipping is making a profit on the price difference
between what one charge and what the dropshipping partner charges him/her
The biggest benefit to dropshipping is the ability to offer a large selection of
products without purchasing Inventory upfront or managing that inventory
Dropshipping can also be a great tool to help diversify the inventory and test
products since it is just a matter of adding the new product to the store.
Dropshipping is by nature, the cheapest option to get started. Therefore

dropshipping is for people who would prefer to keep startup costs as low as
possible and are less concerned about margins. Dropshipping is also a great
option for someone that doesn't want to hold and manage inventory. It's also a
great option for people starting business in ecommerce as it allows to get started
for almost nothing and to start understanding the world of ecommerce and
various aspects of online marketing.
4. Preparation of a Business Plan
A business plan is the road map that helps bring Ideas and thoughts together. It is
vital so that one can determine how to best move forward and most effectively
compete. It is not necessary that one may actually need funding for the business or
submit the business plan to anyone, but still it is important to make it for the
strategic planning.
5. Registering the Business

With a business plan in hand, one should consider the options for registering the
business Business has to be incorporated as it describes the process of creating a
new business structure where that business becomes a recognized entity or person
under the law. Once created, this new legal entity can be treated separately from its
founders or shareholders, potentially reducing liability for its shareholders and
gaining other benefits that could help the business grow and survive in the long
run.
6. Setting up the Business

 Naming the Business: Besides finding an actual product to sell online,
another difficult decision is determining the business name and choosing an
appropriate and available domain name.
 Creating a Logo : Once the name is solidified and domain registered, it is

time to craft a logo. Logo design should be simple and such that it leaves a
good impression on the potential customers.
7. Understanding Search Engine Optimization (SEO)
One should understand the basics of search engine optimization so that you can
optimize your site for Google and other search engines. SEO encompasses many
tactics but the underlying principal is that one is helping Google and other search
engines better understand what ones ecommerce site is about and what it sells. This
in return increases the visibility by increasing the chance search engines will list
ones site in the search results when potential customers are looking for the
products one sells.
8. Building the Store

With a better understanding of search engine optimization (SEO), next step is to
build the store. There are many critical elements. Web visitors should be persuaded
with product descriptions that sell and address the ideal buyer directly and
personally.
9. Preparing to Launch
As one prepares for the launch of the new business, there are several essential
elements that need to be prepared. It may so happen that a new customer may
come to the website, find a product they want at a price they like and add it to their
cart They get to the checkout page and then they get hit with the shipping and
handling rates and all of a sudden they start re thinking whether to buy or not. This
may be because suddenly a product they thought had a fair price is starting to seem
a little expensive. One of two things happens next. Either they decide to continue
to buy despite the increased costs, or they abandon their cart and leave your
website disappointed.
This decision to some extent can be influenced by drafting a suitable shipping
strategy The real challenge while drafting the shipping strategy is determining a
solution that cuts Into the margins as little as possible yet remains attractive to the
customers, One can either:
 Offer free shipping, just for domestic orders.

 Charge what one gets charged
 Offer a flat rate for every package, or flat rates for weight ranges and order
totals
10. Post Launch

First Customer : Now that website is designed, populated with great content
launched to the world, the product is decided, its photos are uploaded
descriptions well written, it is expected that customers visit it. For many first time
ecommerce entrepreneurs, it can be frustrating to work so hard getting the
business ready but no results. There should be involvement of various social
media that would help sell the products. One should take efforts to leverage the
website and get ones products in front of more people, be acce on mobile
devices, get product review etc.
Marketing the Store : One must adopt top marketing tactics for driving traffic
and converting that traffic to sales. Some means to do this include : Email
marketing, write blogs, drive traffic etc .Building one’s own ecommerce business
is no easy task. From choosing a product, evaluating viability and sourcing, to
building, launching and growing sales. There is a lot of complexity. However,
marketers have a follow the above mentioned steps that provide a clear roadmap to
help build a profitable ecommerce business.

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Launching an E-business

1. Choosing a Product/Finding a Product to Sell

2. Evaluating the Idea

3.Obtaining the Product

Wholesale : Buying wholesale is a fairly simple and straight forward process It

Dropship : The concept of dropshipping is selling products one does not

Dropshipping is by nature, the cheapest option to get started. Therefore

5. Registering the Business

6. Setting up the Business

 Creating a Logo : Once the name is solidified and domain registered, it is

8. Building the Store

 Offer free shipping, just for domestic orders.

10. Post Launch

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