- Author By Miva |
- Posted on
1. It’s Easy
Undoubtedly, there are infomercials on after I go to bed that tout how easy e-commerce is for anyone. But in reality, there will be obstacles to overcome: customer service fires that need to be put out, charge backs that will require attention, and technical issues you need to get help to solve. So it’s not easy but is doable with persistence.
2. It’s Free.
You get what you pay for and nothing is free. You may be able to save money doing many of the tasks yourself, such as writing product descriptions, taking product photos, and marketing. You will still have a hosting bill, cost of goods, and fees for processing credit cards.
3. No Experience needed.
You may not need e-commerce experience; however, experience in starting a business, marketing, merchandising and branding will all help you succeed.
4. It’s not a business.
E-commerce is e-business which means this IS a business. You need products or services, marketing, company policies, accounting, IT, fulfillment, customer support and more.
5. Manufacturer pictures will work.
Stock images show you as a copycat whenever someone is searching for a specific product. Take your own pictures and stand out from the crowd.
6. Only price matters.
Competing on price has been successful for the few, but unrealistic for the majority since it requires that you generate a massive volume of sales for substantial profit. Setting yourself apart as a leader and authority, or offering stellar customer service and ease of shopping, can allow you to command a higher price.
7. Build it and they will come.
In the beginning you need to check everything for potential fraud. Fraudulent orders cut your profits and could put you out of business; especially if you leverage drop shipping.
Know who your competition is before you open up shop. Like a hawk, watch every move they make, so you don’t get caught by surprise on anything. Google alerts on company names is a good place to start.
10. One year, one million dollars.
I would love to know where people get this one from. It is possible to build a million dollar online business in a few years; previous experience in other e-commerce businesses is a huge predictor of success though.