1. PICK YOUR PASSION
Now to make money off a product you don't need to love it, you just need to dedicate time to selling it. However, if you already know about and/or are very passionate about similar products then it will SAVE YOU TIME, allowing you to START EARNING SOONER. You will be better equipped to deal with customers questions about the products and, you will find it easier to relate to them; this improves customer service.
2. RESEARCH, RESEARCH, RESEARCH
The more you research the more prepared you will be once things get started. Have a look at your competition and try not to be discouraged; they started in the same place as you did. You need to find out what they do and understand what works. Research your product. If you already know a lot about your products then you can allocate less time to this task but you should still do it. Find your target audience and begin planning how you will attract them. Observe trends in your chosen field.
Attempt to find gaps in the market; notice things that competitors are missing and capitalize on their mistakes.
3. WORK SMART, NOT HARD
Utilizing existing, proven methods and improving your networking is a great way to get started and continue to do so after you begin building your online empire will only strengthen it. Other entrepreneurs in similar industries can be great tools to help unlock new growth in your business later on and some can provide advice and shortcuts which they have found through experience.
One example of this is using VENDOR LISTS (which we currently offer) to connect you to many reliable sources for your chosen product, often increasing quality at lowered costs.
4. USE SOCIAL MEDIA
In E-COMMERCE there is a very small barrier for entry, especially with the advent of social media - which often involves just making a free business account. With a wide range of consumers existing on social media, your target market will likely always be within reach. Apps like Instagram and Facebook allow users to set up business pages which have features such as advertisement to grow your business faster. These ads are using smart prediction software to make sure your target market is being reached and often improve user interaction and follow counts.
5. CREATE A BRAND IMAGE
When starting your business it's important to have a brand image in mind. Creating a logo is an important step in starting your business; the goal is to have your logo become a symbol of familiarity for your customers. Building your marketing material around your logo and remaining consistent in the colors, layouts, and themes you use will help SOLIDIFY your brand image and bring about an aura of professionalism to your business when viewed by new and existing clients.
More business tips and insider knowledge available in our e-books: