Step One: Plan, Set Goals, Don't Rush
Before you worry about delivery times, logos or website layout, take time to plan and dream. There are millions of products that can be sold online, but don't try to sell all of them. Look at your interests. If you love a sport, is there a niche market related to sports that you could address? If like gardening, can you find a special focus in the garden?
The key to online success is to find the niche in your products or your (just as important) your product knowledge and exploit it..
Once you have identified the market you want to focus on, set some real goals. Will your ecommerce business be your primary source of income or a part time effort? How much money will you need to generate? Create your budget so you know what you have to spend.
Step Two: Create a Business Plan
Whether you doodle it on a series of cocktail napkins, write it out on legal pads, or use the most cutting edge business planning software, it is vital to create a serious business plan. A business plan helps you (1) vet your business' viability, (2) consider your market, (3) communicate your business to investors, vendors, and employees, and (4) create a road map for managing your business once it is running and (5) stay focused.
Step Three: Locate Suppliers
At heart, most ecommerce retailers are resellers. While some businesses operate as both manufacturer and retailer, most online stores purchase items wholesale and resell those items.
Finding the right suppliers can greatly assist your business. So look carefully and check for industry associations. That means a bullish outlook for companies looking for good terms on stock and/or inventories. The main advantage is that all parties have more incentive than ever for finding true win-win situations that allow for cash and stock flow. When everyone is looking to survive, great deals can be had.
Step Four: Hire Experts
An ecommerce entrepreneur does not have to be a graphic artist, a search engine “expert”, a wordsmith, or a coding guru. Focus on where your strengths are - your product knowledge and selling your products, out source as much of what you don’t know to experts as possible.
Step Five – Automate!
When you’re up and running and you have as little as 10+ orders coming into your online store every week you will start to get bogged down in the repetitive typing in of orders and customers into your accounting system - tying to keep stock and prices uptodate from your warehouse and suppliers.
Look for a web shop system that can do this automatically so that you can focus your attention on marketing.
Step Six: Market Your Store
Once your inventory is in place and your ecommerce site is operating, you will need marketing. Good online marketing could include the search engine optimization you established as your site was being developed; a pay-per-click advertising campaign with Google, Yahoo!, and MSN; and any number of other tactics. This might be another opportunity to hire a consultant or expert and actually save you money and time in the long run.
Whatever marketing you do, measure it. Find out what is working and what is nibbling away at your bottom line.
Step Seven: Provide Amazing Customer Service
Providing amazing customer service is not technically a step in starting a business, but it is vital if you want your business to succeed. Be quick to provide great customer service to help your business flourish.