Start an Online Business: Tips for Entrepreneurs
I recently read that the vast majority (up to 80%) of online stores fail and have to close before reaching one year of life. Doing a bit more research about it, I have found out that up to 96% of ecommerce fail and the vast majority do not achieve break-even point… worrisome don’t you think?
As a Web designer and developer, many people (potential clients) contact me requesting a first budget for the design and development of an online store, so I want to share with you some of the questions/advice I share with them before we get down to business trying hard that their projects are not one of those that goes to the fret without arriving to one year of life.
THE ATTITUDE IS KEY
How many hours will we go to the online store? Are we willing to take hours off to work on it? Can you see yourself in 5 years in front of a computer updating the web page? Ask yourself this questions to know if you are ready to start an online business.
HAVE A MARKET NICHE
Knowing the public and market we are going to work on and if it is already saturated or there is still some opportunity or gap where we can sneak and sell something is a must.
IS YOUR SERVICE/PRODUCT IS DIFFERENT
Can we offer something different or cover a need with our product/service? Are we cheaper? Or maybe better than our competition? Find why clients need to buy in our shop before selling.
INVEST IN MARKETING ONLINE
Currently following an online marketing strategy is vital for our ecommerce to sell effectively
As I say to people who contact me for the first time, and of course I don’t want to scare them, an Online Store is like any other business, you have to dedicate a lot of time and work if you want to achieve optimal results.