Plan and Organize Your Online Shop
How to Effectively Plan and Organize Your Online Shop: When you want to change careers and head off to make your fortune in the world of eCommerce, it can look like it’s easier said than done. With so many modestly successful sellers now trying to promote their own online courses, and the likes of Amazon squeezing profit margins every waking hour, it can be hard to know which way to turn. That’s why we’ve put together everything you need to know in this simple 3-minute read. All you need to do is take on board the wise words that follow, then get busy putting them into practice.
Choose a niche that you’re motivated by
First things first, you need to find a business that’s going to motivate you to get out of bed in the morning. There are thousands of profitable niches out there, but it’s no good picking one that you just can’t get excited about. Take your time to set off in the right direction and you’ll find it makes all the difference to your motivation over the weeks and months ahead.
Identify your competitors before you hold stock
One of the most common online shop mistakes is to get straight to wholesalers like AliExpress and blow your entire budget without a moment’s thought. Whilst you might think that there’s no time to waste, you do need to put the brakes on and get strategic. With proper research into your competitors, what they’re selling, and their price points, you can get a much clearer idea of how to position yourself in the market. Once you do that, you’ll be onto something.
Come up with a memorable business name
The name of your business really matters these days, and much more so in the past when your street address would be your primary destination. Now that everything online you need a short, memorable, and easy to spell name that’s completely unique. This might sound like a tall order, but it will be worth its weight in gold when you find it. Take your time, brainstorm all afternoon if you have to, and then make sure you get the .com extension.
Decide whether you’re going to be a drop shipper
Do you hold stock, or do you fulfill orders as a drop shipper? It’s really up to you and will be largely governed by how much cash you’re holding at the start. If you want to be able to control every step of the fulfillment process then you’re probably going to want to hold your own stock. And if you want to keep things lean and agile in your first year in business, dropshipping is undoubtedly the way to go.
Select a focused range of products to begin with
If you decide you want to be the new Amazon and hold everything then the chances are it’s just not going to work. Remember that even Jeff Bezos started off with a simple online bookstore and take on board the lesson that this holds: focus.
Start with a small range of products so that you can find your feet in the world of eCommerce. Not everything is going to be a winner, so make sure you test the market with a range that you feel reflects what people want.
Use Shopify to keep things simple
There’s little to be gained by reinventing the wheel and coming up with your own eCommerce platform. It might well pay well for the developer you commission to do it, but all you really need is a platform like Shopify to take your business to the masses. If in doubt, keep it simple.
Set up a company so you can register for sales tax
You’re going to need to pay sales tax now you’re a retailer, so make sure you register as soon as you go into business. That way you’ll be able to budget for your tax bill at the end of the year without any nasty surprises.
Work out your margins and profits
Turnover is vanity and profit is sanity as the old saying goes, and there’s plenty of truth in it. You need to focus on improving your margins if you really want to make your store a success. Keep them at the forefront of your mind and you’ll soon be thinking like a true businessperson.
Create product descriptions that people want to read
If you want to sell then you need product descriptions that are going to convert. There are a number of websites that write for you where you can hire a copywriter. Many people think they can do it themselves, but the finishing touches a professional can add really do pay for themselves.
Listen to what your customers tell you
Last but not least, you need to listen to what your customers are telling you. Whether it’s through items that just don’t sell or direct feedback, take everything on board so that you can continue to improve your offering.
Now that you’ve heard all about how to plan and organize your online shop, all you have to do is start putting the hints and tips above into practice. It won’t be easy at first, but it will be worth it in the long-term. By taking that little bit of extra time and care to lay the right foundations for your business, you’ll be able to reap the rewards for years to come.