Droves of entrepreneurs are jumping at the opportunity to build a going concern in the online shopping space as ecommerce is changing entrepreneurship.
The Internet has changed the entrepreneurial landscape, with ecommerce rapidly on the rise.
More entrepreneurs are realizing that a massive customer base can be targeted and reached by opening an online store.
It is predicted that global retail e-commerce sales will reach 13 percent in 2019. Right now the numbers are at 10.1 percent.
This trend is expected to continue.
Customers love the simplicity and expedience f online shopping. Shoppers like that they can get what they want anytime and anywhere without searching an entire mall of shops.
Entrepreneurs can open their own shop and establish a private brand.
Many choose such pay-as-you-go online shop platforms as Ottawa, Ontario’s Shopify, which can cost as little as $30 per month to own your own ecommerce store
Another option is selling products on the Amazon platform using their Fulfilment By Amazon (FBA) program, where Amazon actually warehouses and ships your products for you.
E-commerce is attracting more entrepreneurs simply for the lower investment needed, compared to a physical storefront. Fewer overheads, no unit rentals and less staff also make it attractive, all key reasons that ecommerce is changing entrepreneurship.
The main focus is to get the customer what they want in a timely fashion
Now, this sounds simple but it does have its unique challenges. It takes a specific type of person to pursue such an entrepreneurial venture and tackle the associated challenges. Only about one in ten will succeed.
[Tweet “Setting up an online store requires a high level of optimism and tenacity.”]
This is a trait also needed as an entrepreneur; it increases the ability to manage the challenges of starting a business.
There are three basic things to address to start an online store.
You Need A Plan
Knowing what you are going to do and how will help you develop a plan. There are lots of resources on the Internet that will assist you with this task.
You Need A Marketing Strategy
How will I attract customers to buy my product? This is probably the most important question. What do they want and need?
You Need To Understand The Technical Requirements
For your website to help turn visitors into buyers, it will need to be attractive and productive, so don’t make it difficult or complicated, and avoid lengthy forms.
You might opt to use proven turn-key systems like Amazon FBA or Shopify will go a long way toward addressing these issues. Not sure how to design a logo, or have no technical ability? You can engage the “gig” economy at Fiverr.com to take care of the techie stuff for you.
Fiverr is a place where for as little as $5 you can have any kind of small technical or graphics work done for you.
If considering dipping your toes in the water and trying your hand at being an entrepreneur, this might be an ideal place to start.
eCommerce is Changing Entrepreneurship