If you’re thinking about starting an ecommerce store, then you’re in good company. Online shopping has become increasingly popular in recent years, with more and more people shopping online for everything from groceries to clothes to electronics.
Starting an ecommerce store can be a great way to tap into this growing market. However, it’s not a decision to be made lightly. Before you take the plunge, there are a few important questions you need to ask yourself.
Our founder has her own ecommerce store. She has been in the ecommerce industry since 2015 with starting a company from scratch and when that didn’t work, started again, and again until finding her passion into a jewelry store. Her favorite method is print on demand as it provides the freedom to be creative but also work from anywhere and still have a team behind her working to supply the product and ship it to the customer. So, she knows an ecommerce store is not always the easiest path as everyone may say and it takes commitment and consistency to be successful.
Most importantly before you get started, consider the three questions below.
Questions to Ask Yourself
1. Do you have a great product or service?
2. Do you have the time and resources to commit to an online store?
3. Are you prepared to invest in ecommerce?
Answering these questions truthfully will help you determine if starting an ecommerce store is the right decision for you.
1. Do you have a great product or service?
The cornerstone of a successful ecommerce store is a great product or service that customers want to buy. If you don’t have a product or service that people are interested in, that’s OK because you can find one with sources from dropshipping, print on demand, or even private label. You don’t have to create a product that has never been seen before, but you do need to have a product or service that people want or need.
This means doing market research to ensure that you have a product or service that people want and are willing to pay for. This doesn’t mean copying, but it could mean having a product or service that is slightly better. You should also consider how other similar products are priced, what features and benefits your product has, and how it will stand out from the competition.
2. Do you have the time and resources to commit to an online store?
Starting an ecommerce store isn’t something that can be done overnight. If anyone tells you otherwise, stay away! Creating a store is the easy part, building your business is the challenging part to market it to your audience. Up for the challenge?! You need to take the time to properly plan and configure the store and ensure that all aspects of the business are taken into consideration.
This means having the necessary time and resources to devote to creating the store, setting up payment options, designing attractive visuals and content, and promoting the store. You’ll also need to dedicate time and resources to ongoing maintenance and customer service. This includes dealing with customer inquiries, troubleshooting any technical issues, ensuring the security of the site, making updates and changes to the store, and more.
3. Are you prepared to invest in ecommerce?
To properly launch and maintain a successful ecommerce store, it’s important to have the necessary funds to invest in the business. This includes the cost of web hosting, a domain name, web design, and any other software or services you may need. You’ll also need to consider how much you’ll need to invest in advertising and marketing to ensure that your store reaches its target audience. You should also factor in the cost of creating promotional materials such as banners, flyers, and emails. And, if you’re going to be selling physical products, you’ll need to factor in the cost of packaging and shipping.
“For an entrepreneur, sometimes the smallest step in the right direction, ends up being the best step of your life. Stick in your little toe first if you must, but take the step.” – Lori Greiner
These questions aren’t meant to prevent you from starting your store and going after your dreams. These questions are to help you decide if an ecommerce store is something you’re ready to invest in with your time and resources. If it is a resounding YES, then start your dream and build today so that your future self will appreciate the investment you made. As the quote from Lori Greiner mentions, take the first step as it ends up being the best direction for you.
Conclusion
Starting an ecommerce store is a big decision, so it’s important to ask yourself the right questions before taking the plunge. Make sure you have a great product or service, the time and resources to commit to an online store, and the funds to invest in ecommerce. Doing your due diligence up front will help ensure that you’re in a good position to launch a successful ecommerce store. And most importantly, if you’re reading this, then you’ve already thought about opening an ecommerce store and so now you’re trying to decide if it’s the best option for you. Stop doubting yourself and get started today.
Unsure of where to start with your store? Grab our Just Start Ecommerce course so that you have the A-to-Z guide and get started today. Click Here.
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