Home ECommerce 10 Points You need to Know Before Starting an eCommerce Business

10 Points You need to Know Before Starting an eCommerce Business

10 Points You need to Know Before Starting an eCommerce Business

To start off with we need to know what do you mean by eCommerce business. Don’t worry if you have zero knowledge of eCommerce business and willing to start off one. It is very difficult for a starter when he tries to implement everything at one go. We will also discuss the steps to start off an eCommerce business. Starting an eCommerce business is a hard work with many steps and important decisions that need to come together at a particular right time. Not only this page will help you get to know about how to build an eCommerce business but the most popular blog posts called Shopify where you can get the knowledge of how you would research, build, launch and grow a profitable eCommerce business. So don’t panic if you don’t know a thing about eCommerce.

Especially in the recent days, if you are an investor with a bit extra money to give a start to a new enterprise, eCommerce is a great field to get into. All the tools and resources are available for even beginners in eCommerce. For every work, whether small or big you should have the work ethic and a desire to get success in the work you do.

A complete guide to starting an online store with Shopify.

 As I mentioned above there are around 10 points you need to know before starting an eCommerce business.

1. Start With Your Business Name

The first and foremost thing you do once you are planning to start an eCommerce business or any other business all you need to do is choose a fabulous name which no one has used it before. It shouldn’t be funky and fancy types, it should be of a business type name which no one else is using it. To make sure that no one is using the name you have chosen you can conduct a corporate search and check it out. Once you have chosen the business name, all you have to do is register the name.

2. Secure Your Domain Name and Website

So the second important thing you have to do is, you ‘ll get your business name as your domain name. In case if you don’t get the domain name as your business name all you have to do is a simple change or a makeover to your domain name. Choose a domain name where it is easy to say and spell and is also related to your business. For example, if you take, your business name is Alen’s birthday organization and Alen’sbirthdaycreation.com is not available for you, try something similar to it, just like birthdayorgbyAlen.com. This will make all the customers get an easy access to your website and browse what they want.

As I mentioned before, the main feature of your website is the design of your eCommerce site. It should not only be a visual treat but also functional. There are out of the box eCommerce solutions you can begin with like Shopify, but you may require more custom-made and easier solutions if your needs are more or less a basic need.

3. Selecting The Best Business Structure and Register Your Business

You’ve got several options when it comes to your own business structure:

  • Sole Proprietor
  • Partnership (if and only if you have a business partner)
  • LLC
  • Corporation

Anytime you can start a company alone, but sometimes you also think that you need to get a partner for your business. Once you get the partner for your business, ensure that you have registered it. Else if you don’t have to choose a business structure like LLC, you ‘ll automatically be considered as a sole proprietor, ie, partnership, by the IRS. Unfortunately, if you are operating as a sole proprietor, you are at your own risk. Your properties are at risk. If your company is ever ceased, the court can claim on your personal assets.

If you want you can register your own by filling out the appropriate business structure from the IRS yourself. Or if you are too lazy to do it, you can hire a business filing company to do all the formalities. Another option is also available, a lawyer, which can be an overkill for the average small business owner’s needs.

4. Get Your Employer Identification Number

To all the business you do you’ll have to pay taxes. For that, you need to have an account. You’ll be provided with an Employer Identification Number (EIN) to open a business bank account so that you can file your business taxes next April. Your EIN is more or less like your business’ social security number which means it’s a unique number that identifies your business and helps you in filing important paperwork. Every business needs an employer identification number irrespective of whether you’ll have employees or not.

5. Apply for Business Licenses and Permits

Running an eCommerce business does not even exclude you from needing certain business licenses and permits. Before you start off an eCommerce business you ‘ll have to get approved all your licenses and permits. In which you have to check your respective city, country, and state to see what sorts of sales tax licenses or home business licenses you need and get it approved.

6. Find the Right Vendors

All you need to do for your products to be best of all is make sure that you are selling the best quantity and best prices for the products you sell. And also ensure the materials you use to create is of good quality. As we have lots of competition selling products online keep your products at your best and attract more customers with your uniqueness. Shop around until you find a good vendor with whom you want to continue business on a long term.

7. Start Marketing Early

Nowadays social media marketing is the best to keep going our shop. Even though you are not up and running, make sure you set up a page on all possible social media profiles and keep on writing content for your blog so that the interested people who are watching your profile can know it from the scratch. You can set up your website with a “coming soon” logo where people can sign up to get the free updates on the shop.

8. Get More Productive with the Right Software

As technology is growing day by day, you also need to know how to make use of the technology. Technology is making our jobs so easier and simpler. So even before you start up with an eCommerce business, play around with customer relationship management, accounting, project management, and email marketing software so that you can integrate into what you are actually doing once you launch.

9. Stock Your Inventory

No matter what you have to have a warehouse full of products somewhere or the other place. Your inventory lives in your garage, make sure that you have got enough of products in the warehouse. It can be a tricky selling, not knowing how much you ‘ll need, but in general, it is always better to have too much of inventory. You need to pay attention to how fast it is going on, so you can be smarter with the future orders and supply more products from your warehouse.

10. Make Sure Your Business Stays Compliant

It takes time to build an eCommerce business, but once you are started with it will move at the speed of light. Don’t be overly panicked about your annual report, if you are incorporated or filed an LLC, nor those annual fees for business permits. If you are so much concerned about it, then put a deadline on your calendar so that you can stay on top of them.

Conclusion

Most entrepreneurs nowadays have other brilliant business ideas they would one day love to explore and find happiness and success in it. But once you’ve built up a successful eCommerce business selling, this may provide you with the capital you require to move on to greener pastures.

If you find all the 10 points on after building your eCommerce business, there is no other step rather than to launch your awesome super easy eCommerce business site.

Create your own online store

 

 

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