Firstly congratulations that you’re thinking about a business. Having said that, why small business? Why not a big business?
If we ourselves belittle our enterprise by calling it small no one else will respect it’s bigness!!
Now, to understand about a business, you need to first decide –
Product / Service – what will you provide? Understand, that if you’re bad at selling / talking and smiling, don’t start your business.
Revenue model – how do you make money? If you don’t know this, please don’t begin, you’ll end up closing your business very fast.
Initial Capital – how much will you need to invest? Capex – Capital Expenditure
Logistics and Over head – who do you need? Where will you operate and how much will it cost you? Employees, Place to operate, Opex (Operating expenses)
Break-even time – when will you be profitable?
Risk – how long can you survive without revenue? How deep are your pockets?
Research, Read, Learn and basically, try and get a mentor, who’s willing to guide you, coach you and has a vested interest in your success.
I was fortunate, that I got introduced to my mentors through a common friend and I was taken through a selection process, offered a position in the private mentorship program, so that I could create business assets.
First you should decide which field/category that you want for your small business that you are going to build. If you don’t have it yet, try to search what problem that other people have or ask yourself what are you good at that make people around you asking for your help/opinion. Then you could come up with couple of idea from that. It all start with list down the idea that you have, drill down to each details from it. You can do that with the why question. Once you got it, you can start validate the idea using internet. You can start asking among your friend first in your social media platform. By asking to other people, you already expose your product/service to the public and that could already create follower. If you already get feedback from it, you can start create/built the product and improve it by the feedback that you get. When you launch your product or event before you launch it, people already giving you money if you follow this steps because by including them in the process of creating, building and improving it, they could see it by them self and trust already created during the process.
Millions of people opt for online shopping today. You can have everything delivered at your doorsteps once you desire it. For all the shopping, you don’t need to rush to the shops and spend a lot of time there anymore. Shopping has become far easier than it used to be. This has been possible only through eCommerce business. Saying so, it doesn’t mean that starting an eCommerce business is a low hanging fruit that anyone can be successful at. Running an eCommerce business can be really challenging.
Read In Detail: 7 things you must consider while starting an eCommerce business
Here we have put a list of things you must consider before planning an eCommerce business.
- Choose a Product Niche
- Choose a good domain/business name
- Choose a good CMS for your website
- Plan Organic SEO
- Paid Campaign Management
- Social Media Marketing
- Delivery mechanism
Choose a Product Niche:
Before getting into the business, you should conduct research on the demand for goods in the market. Sometimes very simple and narrow areas can be more rewarding for us. As Leigh Steinberg opines, “Very narrow areas of expertise can be very productive. Develop your own niche.” It’s a wise decision to target a particular customer rather than general customers. While choosing a niche, you have to be very smart. If you choose the over-saturated niche then you have to struggle from the very beginning.
Choose a good domain/business name:
Having chosen the niche, we should think of a good domain name. There are many companies with different names. Keep in mind that our domain name doesn’t match with others, and should reflect the products we want to sell them. A simple and creative name can be a good idea for our customers to remember it. As soon as they want things, they should visualize our brand name.
Choose good CMS for your website:
Developing the whole website using HTML can be a very lengthy, expensive and time-consuming. Since content has to be changed each time, editing lots of files is clearly a slow process. A good CMS for our websites provides a safe, secure and user-friendly interface to manage the content of the database. So it’s good to choose CMS to manage your website which can save your time and money. There are innumerable CMS available in the market. You can choose any as per the requirement of your website.
Plan organic SEO:
Your website is the mirror of your business. It should clearly reflect your products and make an impression on customers. So if you are going to start an eCommerce business, your content needs to attract the targeted audience. As Adam Audette says, “Today it’s not about ‘get the traffic’ it’s about ‘get the targeted and relevant traffic”. It should also make easy for tracking customer’s order and make effective e-payment system. Further, you need to be more specific by narrowing it down to the customer base. Your website should be a fast loading website and have a URL which may relate them to the main website displaying your product.
Paid Campaign Management:
Just having a good website and content, isn’t going to turn your customer and convince them to buy your products. It doesn’t mean that they are not effective. Of course, they have an impact on business for the long term. If you want current results in your business then you should definitely go for paid campaign management.
As Matt Goulart, says, “Social media is about the people. Not about your business. Provide for the people and the people will provide for you”. Paid campaign management includes ads on social media like Facebook, YouTube, Twitter, Google, etc. Though they may seem a little expensive, they can bring prompt results. It’s also considered to be a nub- a friendly strategy for eCommerce business.
Social media marketing:
Social media marketing can be one of the prominent tools to develop your marketing strategy. It provides you a platform to connect with your customers, increase awareness and boost your leads and sales. Your competition is already increasing on social media day by day, so don’t let them pull your probable customers. The earlier you start, the faster you see growth in your business. Don’t you think it as an intelligent solution to boost up your eCommerce business?
Good delivery mechanism:
Good delivery mechanism is the backbone of the success of an eCommerce business. Whatever your customers may order for, they should reach them on time, safely. The quality of your deliverance has the whole impact on an eCommerce business. You must choose a system that is fast, safe, secure and reliable. It will help us immensely to catch up customer’s queries and track their orders. No matter how good your product is, you have to get it to the customers safe and time-bound.
Starting up an eCommerce business is as exciting as it is challenging. In the beginning, one may feel it a Herculean task, but things can go easy if you put on all the strategy together wisely. I hope you will never ignore these issues while starting up your eCommerce business. You can definitely turn your dream to become an eCommerce business entrepreneur into reality.
The business opportunities to start these days are to take a franchise, these factors make franchising effective in the local market.
Franchising involves tried and tested business models. Thus, entrepreneurs who decide to buy and operate franchises are exposed to lower calculated risks. This makes it better than starting up new businesses from scratch, which usually comes with greater risks. Most of the time, franchisors have already discovered and perfected processes and efficiencies that are passed on to franchisees. Thus, franchisees could either be guided to overcome lack of business experience or be trained in polishing acquired business sense. The entrepreneur doesn’t have to worry about establishing the brand to make it a household name. The strength of the chosen brand of franchise would be enough to entice customers and guarantee success. Franchisees can ride on the outstanding reputation of the brand or franchisor. This way, they could easily apply for and obtain approvals for loans from financial institutions or banks. A reputable franchise is already an appreciating asset on its own. It can be resold or liquidated any time, making it attractive for lenders.
The best franchises I can suggest you nowadays are Online services, They are the franchise options for many reasons, low cost and less initial space are the two important features of it.
Look out for a company like Phixman. This company is India’s one of the best Online Mobile Repair Company, PHIXMAN specializes in its services without loopholes all your requirements to reach expert hands. Their massive investment in engineers, equipment, and procedures and consequently will definitely provide you the extreme best experience, they are now able to offer our exceptional services nationwide. It is India’s one of the most fastest-growing franchises and is the best franchise to start in 2019.