{"id":29816,"date":"2018-01-31T21:46:03","date_gmt":"2018-02-01T01:46:03","guid":{"rendered":"http:\/\/www.andysowards.com\/blog\/?p=29816"},"modified":"2023-04-20T23:43:03","modified_gmt":"2023-04-21T03:43:03","slug":"ecommerce-year-one-laying-foundations-strong-online-business","status":"publish","type":"post","link":"https:\/\/www.andysowards.com\/blog\/2018\/ecommerce-year-one-laying-foundations-strong-online-business\/","title":{"rendered":"Ecommerce Year One: Laying The Foundations Of A Strong Online Business"},"content":{"rendered":"

From the outside ecommerce looks easy. After all, there are numerous success stories that show that running your own ecommerce business either as a full time occupation or concurrently with your day job can lead to sizeable and consistent gains. Some see ecommerce as their ticket to a brighter future in which they will regain their independence, claw back some work life balance and become independently wealthy enough to live the lifestyle they\u2019ve always dreamed of. Of course, if it were that easy, everyone would be doing it.<\/p>\n

Here are the key points on how a successful entrepreneur would lay the foundations of a strong online business:<\/p>\n

    \n
  1. Choose a product or service that you are passionate about.<\/li>\n
  2. Do your research and understand the market you are entering.<\/li>\n
  3. Create a strong brand and make sure it is consistent across all of your marketing materials.<\/li>\n
  4. Build a strong website that is well-designed and easy to use.<\/li>\n
  5. Invest in marketing to get your product or service in front of potential customers.<\/li>\n
  6. Provide excellent customer service to build a loyal customer base.<\/li>\n
  7. Stay up-to-date with the latest trends in the online world.<\/li>\n
  8. Be patient and don’t expect to become an overnight success.<\/li>\n<\/ol>\n

    While there are many ecommerce success stories<\/a>, each providing a unique lesson in how to survive in this fast moving and ultra competitive landscape; there are at least as many aborted or floundered businesses that went quickly from inception to liquidation with a whimper.<\/p>\n

    \"Laying<\/a>
    \nThe Internet of Things gives Ecommerce a Boost<\/em><\/p>\n

    Ecommerce isn\u2019t easy and anyone who says that it is is lying to you to try to get you to buy a ticket to their seminar or one of their starter kits. This is a bitter pill to swallow when there\u2019s so much advice out there, (and quite a lot in here<\/a>) helping you to navigate your way to ecommerce success, not to mention all those lovely cheap and free resources. Here we\u2019ll look at the importance of starting off on the right foot, looking at the pitfalls you\u2019ll need to avoid from the very starting line and how to ensure that your ecommerce business gets off to the best possible start in its first year.<\/p>\n

    Why so many ecommerce businesses fail<\/h3>\n

    \"Laying<\/a>
    \n5 Signs You Are An Ecommerce Beginner<\/em><\/p>\n

    Ecommerce is a hugely competitive field and many would be entrepreneurs find that their efforts collapse in their first year because they have underestimated the breadth of competition in their chosen field. That\u2019s not to say that a great product can\u2019t find its market in a crowded marketplace but as an entrepreneur you need to know what your USP is so that you stand out from your competition (and that\u2019s really hard to do in your first year).<\/p>\n

    A lack of investment is also a common stumbling block. While it\u2019s absolutely true that there are free ecommerce platforms they come with their caveats. They may have a cookie cutter selection of \u201cthemes\u201d which makes your site scream \u201camateur\u201d or give it a distinctly late \u201890s feel. While an online store may have significantly reduced overheads compared to a brick and mortar store a lack of investment of startup capital can see your business flounder.<\/p>\n

    Furthermore, many ecommerce businesses are as on top of their inventory and cash flow as their brick and mortar counterparts.<\/p>\n

    Your business\u2019 first year will be a trial by fire and it\u2019s not an enterprise that should be rushed into no matter how affordable or logistically easy it may appear to start out.<\/p>\n

    Your first step: Do your homework<\/h3>\n

    \"Laying<\/a>
    \nCreating A Killer Ecommerce Marketing Plan In Four Simple Steps<\/em><\/p>\n

    Because brick and mortar stores have such extensive overheads, their founders need to do a whole lot of market research before going cap in hand to chase funding solutions. They need to demonstrate a quantifiable interest in their products while also convincing lenders that they have a strong enough USP to ensure that customers will consistently use their services rather than going through their competitors. Many who want to start ecommerce businesses forego this or don\u2019t take enough time to properly research their chosen field and thus fail to make the impression needed on their target market.<\/p>\n

    Before you get your business cards printed or pay for a year of web hosting, carry out the following;<\/p>\n