The Internet has made it easier than ever to make money selling your own products. In fact, you can create an online store in a single afternoon. The process is a bit more complicated than , but not by much!
Next, you will learn how to create an online store from scratch. We will cover things like:
- How to find the perfect domain name and hosting for your new store
- The different ways you can create an eCommerce store (and the route you should take)
- Why market research is essential, how to do it, and what types of products are trending
- The exact steps to follow to create a virtual store
- How to make your first sale
- The most effective approaches to generating sales day after day
What are you waiting for? Read on so you can start your eCommerce empire today.
What you should do before creating an online store
To create an eCommerce site, you’ll need a and a . If you don’t know what you’re going to sell online, you might want some later. But, keep this section in mind when you have already thought of the perfect name.
There are many options to open a virtual store for free. For example, using services like Shopify and Wix is a fairly common option. Or, you can go for the self-hosted approach and build your site using WooCommerce or similar.
A lot of people end up choosing Shopify, because it seems to be easier. But, this isn’t always the best route to take, and here’s why:
When you choose Shopify, you are limiting the potential of your store. First of all, your design options are limited and the theme options are not as extensive as in WordPress. Also, with their pricing model, you pay a lot for a platform that you never have full control over. If you ever want to leave Shopify, you basically have to start from scratch.
With WooCommerce you have complete control over the virtual store. Also, since both WordPress and WooCommerce are free, you only have to pay for one and .
It should be noted that both platforms offer incredible support that you can lean on. But, at the end of the day, you’re better off with a platform that gives you full control over your site, along with the ability to scale along with your business.
If you’re interested in a detailed comparison between WooCommerce and Shopify, we recommend . You will be fully convinced that the combination of WordPress and WooCommerce is the right one for your store.
Dropshipping: is it effective?
If you’ve been thinking about starting an eCommerce business for some time, you’ve probably heard about the . With that method, you never have to handle physical inventories. You only sell a product on your online store, and then a third-party provider handles all the shipping for you.
This may seem like an attractive option, after all, it cuts down quite a bit on the amount of work you have to do. But in general, this is not the best approach to take if you are looking to create a long-term successful online store.
With dropshipping you usually have much lower profit margins. Which might not be the best when you are starting a new online store. Also, it’s hard to develop a long-term brand that has staying power in the market if you don’t sell your own products.
Finally, while you don’t have to deal with shipping logistics, you do have to deal with customer service. This can become a real headache when you’re not actually in charge of shipping. Imagine hundreds of angry customers contacting you due to delays in shipping their products. All you can do is hope that your packages are delivered as soon as possible.
Yes, dropshipping may be an easier way to start selling products right away, but you’re not really building a long-term business with a scalable brand.
If you want to create an online store that you have full control over, the way to go is to create your own products.
The products and services necessary to create an online store
To start creating an online store there are certain products and services in which you will have to invest.
Here is a summary:
- A
- A web hosting service that can grow along with your store.
- A means to build your store, like and
- Capital to build your MVP product (more on that later) and initial product line
- Packaging to send your products.
- A budget for paid advertising.
As you can see, a small initial investment is required to create your online store. But, compared to a physical store, this investment is minimal.
Step 1: Market Research
It will be almost impossible to create an online store without any products. That’s obvious. But how do you find products to sell? There is no point in starting an online store if no one wants to buy what you sell.
Choosing the right product and the right market to sell to is the hardest step.
Maybe you have an original idea for a product that people not only love but are willing to pay for? Usually this is not the case.
But just because you don’t have an idea doesn’t mean you can’t create a successful online store. It all starts with a simple question: what is something people need and are willing to pay for?
It’s quite simple actually. You identify a pressing need, solve that need with your product, and make a profit. What you are looking for is a gap in the market that is currently being neglected. If that sounds confusing, there is a step-by-step process you can follow to discover your ideal product and market.
1.1 Align with trending products and ideas
With an online store, you want to sell something unique. If someone can go to your local store and buy the same thing that you sell, you will not have much success. You need to give your visitors a reason to buy from your store. One of those reasons could be: they can’t get what you’re selling anywhere else.
One way to align with that is . This will help ensure that not only in the short term, but also in the long term. You would be disappointed if you enter the tail end of a product wave. Instead, try to find a product that is growing in popularity.
Before diving into the tools below, it’s a good idea to take note of your current passions and interests. This will give you a solid starting point to start exploring different types of products and markets.
Take some time to answer the following questions:
- What problems do I have in my daily life?
- What products do I own that I love?
- Is there a group of people with whom I relate deeply?
- What companies am I passionate about?
Armed with the answers above, let’s see if we can uncover some current trends using the following tools.
This site showcases new and upcoming trends in a host of different niches. Some trends will talk about entire niches, while others will highlight specific products. Spending a few minutes alone on the home page should at least give you some ideas.
You can also filter by certain industries, such as technology, culture, green products, luxury, fashion, and much more.
Google Trends is another very useful tool that will help you forecast the future. If you’re trying to get an overview of trends around the world, check out the . Here you can see the trends in certain markets, both in the present and in the past.
But if you know the type of product or niche you’re looking for, this tool can be even more valuable. It will collect historical data going back to 2004, so you can get an idea of whether a given market is growing in popularity.
For example, here is the data for ‘charcoal mask’.
You can see that this niche has been growing in popularity with no signs of slowing down.
Looking for a site that only recommends trending eCommerce products? Then ECOMHUNT is going to be your best friend. It’s geared towards store owners using dropshipping, but market research can still be valuable.
Every day there is a new list of products that are currently trending. You’ll get all kinds of useful data, including how popular the market is, how much you can earn, how to target the market, and much more.
This tool has been free for a while, but the new version has a monthly fee. But for those on a budget, the free version of the tool will still have limited features.
Instagram influencers
Since you are creating an online store, Instagram will be a very useful tool for you. Countless brands have been created thanks to the . But instead of using Instagram just as a way to grow your store, you can also use it to find promising new products.
When you are researching a niche you will find out very quickly who the influencers are. As you review their accounts, look for the products that they tend to promote most often. These products are most likely popular and give you a good idea of products, or even companies, that you can model your store around.
Additional Product Considerations
Beyond finding a product that’s trending and selling for a long time, there are a few other elements you’ll want to look for in a solid product.
The first is that it must be easy to send.
When you’re starting out, you’ll likely ship all the products yourself. For this reason, you’ll want to be able to easily manage and ship your products from your home or office. Also, you don’t want the shipping rates to be too high. Most consumers are used to paying very little, or even free shipping. Therefore, having exorbitant shipping fees will only detract from your sales.
The second is that it is better to sell an item of high value.
There is nothing wrong with selling a lot of cheap products, but the main problem is that the profit margins will be very low. As an online business owner just starting out, you’ll want to keep your margins as large as possible.
For this reason, it is preferable to sell an item that has a high perceived value. This does not mean that your product has to be expensive to produce, but rather that it has to be sold at a higher price. Your product can solve a very pressing problem that people are willing to pay more for. Or your value proposition leads the buyer to want to pay a higher price.
1.2 Find the intersection of your passion and the market
A market that is trending does not matter much if the idea is not very interesting to you. Sure, money can be a great motivator. But when you are you will need to have a motivation that extends beyond financial gain.
Hopefully, you already have a handful of products in mind. Compare those products with your answers to the following questions:
- Is the market interesting for you or the…
Facebook Comments
Disqus