The internet has come a long way in the last few decades, and e-commerce has become big business; not just for mega corporations like Amazon.com, but also for the little guys, selling niche-market products in virtual stores that would never sustain themselves in the brick and mortar world. It's this freedom and low overhead that allows the internet to be the most versatile and unique marketplace that's ever existed, and there's always room for more vendors. If this is you, but you don't know where to start, here's a few tips for the beginner looking to wade into the waters of e-commerce.
Establish Your Site
First thing's first, you'll need a website. Yes, you can launch your website with a tightly integrated e-commerce solution, but chances are, people will be reluctant to hand over their credit card information to a website they've never heard of. The best bet for a brand new site is to integrate an e-wallet solution while you establish your credibility. E-wallets are essentially a middle-man service where you (the seller) received money from an account that the buyer has setup with the e-wallet vendor. Popular e-wallet methods include Paypal and Google checkout. There are others, but if your goal is credibility, your best bet is to stick with these two.
Weigh Your E-commerce Options
Once you've established your name and your brand, it's time to setup your own e-commerce solution on your website. You may ask why you would do this, since services like Google checkout and Paypal will gladly handle this for you; well, the main reason is that e-wallet services charge a pretty hefty commission (as high as 15% in many situations). The ideal situation is to handle your own billing (which will be essential if you plan to do high volume sales) but if you see yourself doing something more in the sub-$100k/month range, consider some of the e-commerce vendors that exist on the web. Recommending specific vendors is beyond the scope of this article, but look around, compare the fees, lookup user reviews and make sure, above all, that whoever you work with is trustworthy.
Market Something Worth Selling
The final step is to make sure that what you're selling is something that people want to buy. Anyone can setup a website and sell a product, and if you can think of it, chances are 10 other people already though of it and are currently doing it. So, how do you penetrate such a saturated market? This is easier said than done, but take a look at some of the folks that have been successful. Zappos.com started out in shoes, then went broader and eventually were purchased by Amazon.com. Their success lied primarily in their excellent customer service. Groupon.com started out as a side-project for founder Andrew Mason, but exploded because it was built on the idea that people love great deals (the same is true for websites like woot.com and livingsocial.com).
In short, find something worth selling, get a site going (no matter how small, initially) and integrate a small and simple e-commerce solution. As you grow your business, you can scale your solution to capitalize on lower fees and rates and ultimately pass the certifications required to do everything in-house, but the goal for right now is to get a product worth buying on the table and build a following of buyers that rally around your site and the products and services that it offers.
Mon, 04/2/2012 - 01:56 AM | viewed 422 times
In February, 2012, Facebook held its 'fMC Conference' which introduced upcoming features and changes to the site, including Timeline for Pages. All of these changes impact the way an entrepreneur or smb can best utilize their Facebook presence to increase traffic, interact with fans, and ultimately, convert these fans into customers. Here we'll take a closer look at the changes to Facebook, how you can use the new features to your advantage as part of your business plan, and some helpful tips on creating a successful Facebook promotion.
Sat, 03/10/2012 - 05:35 PM | viewed 492 times
In the initial stages of a business startup, most entrepreneurs recognize that they'll need the expertise of an accountant at various times, but few realize that they'll no doubt need the help of another professional, an attorney. Their logic would be that they don't plan on breaking the law or getting sued, so legal services aren't necessary. The truth is quite the contrary, however.
Sun, 03/4/2012 - 01:54 PM | viewed 531 times
Now that you've developed a great startup concept, and you're in the business plan development stage, the time has arrived to come up with the right name for your new endeavor. There are a number of differing theories on what makes a great business name, but one thing is certain, choosing the right name can play a big part in how your business is perceived by your customers, and it can make or break your image.
Sat, 03/3/2012 - 12:55 PM | viewed 411 times
On average, roughly 600,000 Americans start new businesses each year. If you're one of the millions more contemplating taking that giant step into business ownership, don't let fear of the unknown stop you. Some of the stumbling blocks for would-be entrepreneurs include indecision about the right kind of business, a fear of putting their money and time into a business that fails, or they may simply have no idea where to start. Generating an idea for a small business isn't always easy, but with some good advice and common sense, you can learn how to choose a viable concept.
Thu, 03/1/2012 - 12:16 PM | viewed 618 times
If you're a small business owner or an entrepreneur involved in your first startup, you're well aware of the impact that successful Facebook marketing can have on your bottom line. Finding your way through the maze of available apps and tools is time-consuming, tedious work. If you're on the hunt for the latest and greatest ways to reach a larger audience and build your business, check out our recommended Facebook tools and apps that are specifically geared toward taking full advantage of your fan page.
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