Starting an eCommerce business can be difficult. Not only are you taking your future into your own hands, but you are looking to build a legacy. The freedom of running an eCommerce business means you have to juggle everything, from business plans to product profitability.
So instead of telling you exactly what to do, here are a few things that you should avoid at all costs when starting your eCommerce business.
Never underestimate Market Research before starting an eCommerce Business
Market research is something that you can never have enough of. That moment when you think you’ve done too much? Do a little more.
Your market research will affect your entire business journey from inception to growth stages. Everything from
- Domain Name
- Product Specification
- Colour Schemes
- Webpage Search Engine Optimisation (SEO)
- Expanding / Retargeting your Target Market
And it doesn’t stop there. Not only does your market research provide you with the direction you want to launch your business, but brushing up on your competition can also teach you how NOT to run your business.
Everyone makes mistakes – so it’s far better to learn from your competitor’s mistakes than your own!
Don’t Grab the First eCommerce Platform You See
Throw a stone in any direction and you’re bound to hit an eCommerce platform, they are a dime-a-dozen nowadays. But selecting the right one for you is the trick.
They all have their own unique characters and benefits. For example, Shopify is one of the most well-known. However what business owners starting an eCommerce business sometimes fail to realise is that their checkouts are not customisable. Their language options are also very limited meaning that small businesses do not have access to international markets.
Combine that with the fact that they charge commission, and also charge added fees for using payment systems that are not their own – Shopify is not the best choice for everyone.
In fact, we’ve put together a comprehensive guide to the most common eCommerce platforms. So whether you’re looking for proprietary, or open-source, you can compare to your heart’s delight.
Don’t Brand for Yourself
When you are starting an eCommerce business – branding is key.
Everything that you brought in from your market research comes into play. Whether it’s colour schemes or layouts, many businesses make the same mistake – branding for themselves.
It’s understandable, if a little self-indulgent. Your business is for your customers, not for you.
Your favourite aesthetic may not quite line up with that of your target market. When it comes to marketing campaigns, your branding may be appearing to the wrong demographic. Everything depends on the right branding hitting the right people.
Your products may be the best at what they do, but if your branding is wrong, you won’t make a dent in the market.
Starting an eCommerce Business Completely by Yourself
Your business is your baby. We understand that you want complete oversight over every stage of the process.
But what good are you if you become burned out?
We aren’t suggesting building your workforce immediately, but there are plenty of tools out there to take the workload off you. Automation tools are cheap, efficient, and never have to take a coffee break, they deliver result after endless result with extraordinary precision.
If you are looking to expand your targets and sell via Amazon Seller Central then use a tool such as Seller Central Connect. Not only does it streamline all of your workflow, but automation provides Sales Management, instant invoice production, and an enormous amount of sales data.
Starting an eCommerce business is hard enough. Don’t make it more difficult than it has to be.
Overlook Business Growth
You are happy that your business is running. You have work, and enough at the end of the day to call your business a success.
But you can make it so much more!
There are a number of low-cost, high-reward strategies that you can look into in the meantime. Even the free ones can scale up your business with zero effort on your part.
Whether you are looking at engaging in social media such as Facebook and Instagram, investigating automated abandoned cart recovery emails, or trying to optimise your website, it is all about building a bigger business.
Check out our guide for low-cost strategies to support sustainable growth!
Underprice Your Products
Overprice your products, and no one will buy them. Underprice them, and you’ll have plenty of orders, but you will be working at a loss.
So what’s the key?
Properly accounting for raw materials, the time you put into production, and any other added fees is complex at best. Of course you could simply look at your competitors and attempt to come to a middle ground, and that’s not a terrible idea!
But there are tools out there designed to calculate product profitability, and they are easier than ever before to use. Amazon Sellers for example use a blend of Product Finder, and Seller Central Connect.
Using these two tools, Amazon Sellers not only find the optimum pricing to make sales via Amazon, but they also calculate the added fees that Amazon can charge, and provide a profitability validation for your business.
Not to mention automatic repricing (with your permission of course) so that you can win the Amazon Buy Box!
Now you know what to avoid when starting an eCommerce business…
There’s only one thing left to do!
Start checking out our range of tools available here at SuperDisty. Our products, from eSuperStore, to our EDI solution allows you to run YOUR business YOUR way. Our products allow you to make the most of your potential.
So launch yourself from a small startup to a fully-fledged business in no time with our resources page here to guide you along every step of the journey!
SuperDisty – Your Passport to Online Markets