Starting and running an e-commerce business has always been a challenging recreational activity. It involves many steps and decisions which required to be taken at the right time. Taking right decisions is very crucial, especially when you are commencing your first e-commerce business. So before you invest time or money to develop a perfect e-commerce business, you will have to follow some basic steps that will get you off the ground and jumpstart your own e-commerce business in Sri Lanka.
All you need to achieve success is to have the right information at the right time. Since the google is so entrenched when it comes to finding information, it has become the most used method to have a quick overview.
So you can perform a quick Google search ‘how to start an e-commerce business’ and you will be provided with millions of results on this topic. But the bitter truth is most of the information you get online might be a hindrance than a help.
So here are few important tips to get a jump start on your e-commerce business.
The niche is a small but profitable segment of a market created by identifying needs and wants of the customers which were not being addressed by competitors. The niche could be anything that you have some sort of understanding or experience to think about building your business around it.
There are many e-commerce sites which offer hundreds of product categories. However, at the initial phase, you must focus on a niche and build your business around it. Then you can add product categories once you witness growth.
Focusing on niche market will rank your business in Google searches easily, and most importantly you will have to face less competition.
If you’re struggling to decide your market Nich you can use below five steps to find your niche.
- Initially, you should determine what you are really passionate about.
- Then Should identify the requirements of the market you can satisfy.
- Do a small research about the market ( Competition, Etc).
- Determine the profitability of your Niche.
- Test your idea.
You can also get help from Google Trends
The Google Trends shows trending searches around the world. You can click on a story to get more context, like the most relevant articles or trending queries. Trending searches include Daily search trends and Realtime search trends as described below:
Allocate more time to work on your e-commerce business
Just sit in a calm place along with your laptop and think about what’s the best for your business. Working hard on yourself will make your fortune.
Specially when you are planning to start your own business you should think an extra mile and get prepared to spend long hours on planning and be structuring your Ecommerce website. Since the key to success as a salesman is communication You should stay on alert with the current trends and try to incorporate changes that are best for business.
The most importantly you should always keep in mind that “nothing can be more frustrating than being let down by a supplier”, Hence you should have a strategic approach to select them.
Since you surely won’t be purchasing such huge quantity at the startup level you should avoid connecting with such suppliers who are working on bulk orders. (Eg. Suppliers who work with Amazon or other big companies)
It’s always a wise decision to get tie-up with multiple suppliers. This will create a bucket of options in your hand. So if someone fails to fulfil your orders at the given time frame you can approach another to fill the void.
Choose your E-commerce software or platform wisely.
Most of the new E-commerce startups work on a tight budget with unstoppable mindset running after the dreams. At the end of the day, the choice of the platform depends on the level of your knowledge in technical aspects.
At present, there are lots of e-commerce solution in the world.
Most of them need a lot of technical knowledge to develop and maintain. Eg:- WordPress, Magento, Opencart etc. When it comes to choosing the best e-commerce platform for your business, it is all about features, functionality and price. If you are an extreme beginner, then Shopify is a good option, It takes care of all the technical aspects and the background management of your store. You can start your own e-commerce store with zero cording.
You will get a full featured online store for a small rental.
Launch your store from in simple 3 steps. Within few days.
World class e-commerce apps in the Shopify app store.
Lots of marketing opportunities to promote your product.
Reporting module to review your store’s recent activity, get insight into your visitors and analyze your store’s transactions.
Built-in SEO features to rank your store in search results.
Shopify experts around the world to bring your store to the next level.
Ecom Services is one of the leading Shopify experts in the world who is listed as a Shopify Experts Srilanka. They have already done developments & improvements to convert Shopify platform to e-commerce business in Sri Lanka. They provide free and paid support to develop your online store to strengthen the businesses in the online world.
Identify the audience and your promotion method
The success of a business lies in its marketing. However, it is always a tough job to identify the correct marketing methods for your e-commerce startup.
Most importantly marketing is the ladder to reach out to the larger audience and strengthen your brand or product among your targeted audience.
Keep everything recorded to understand risks and opportunities.
The entrepreneur needs clear and accurate records to manage the challenges of the startup. Poor record keeping has been the demise of many successful businesses.
Proper maintenance of records will avoid expectations end up with bad experiences by Streamlining processes, reducing costs and improving efficiency.
Pay attention to legal procedures
Startups are often overflowing with tremendous ideas and energy. But it doesn’t always have a roadmap for the legal aspects involved in starting a business. Hence make sure you do everything legally, as skipping any of such requirements might cause trouble in the growth of your business.