The Ultimate Entrepreneur’s Checklist for Launching an E-Commerce Business
Largely thanks to the developing Internet technology, more and more entrepreneurs are looking at e-commerce digital platforms to sell quality products and merchandise. According to those at ExitAdviser, in some cases, it will be easier to buy an existing business and make more sense for certain situations. While it is very easy to set up these businesses, there is a lot to consider, and with that in mind, here is our checklist for starting a shopping cart website.
- Web Design & Hosting – Of course, you will need to design and build a suitable digital platform on which to sell your goods, and this is one area that a digital marketing company can handle. They would source your chosen domain name, design and build your website, plus provide you with a top-rated web hosting service.
- Create a Digital Marketing Plan – If you approach a leading SEO provider such as the Australian firm Move Ahead Media, they will put together a suitable digital marketing plan that includes social media and search engine optimisation.
- Adequate Funding – Many new businesses fail during the first year due to lack of funding, so do make sure that you crunch the numbers and have access to more than enough capital to launch your venture and survive the first few months, which are always the hardest.
- Business Plan – An essential component to any successful enterprise, the business plan should contain information about every aspect of the business, including start-up costs, projected cash flow and profits forecasts. When you think you have finished your plan, ask a business guru to take a look, as he may find weaknesses that you need to address.
- Resources – You might be able to have your office at home, and with a laptop computer and an Internet connection, you can run your business empire from home, plus you will also require stock storage space, which can either be rented or you can use your home.
- Business Registration – Ideally you would consult with a lawyer, who can advise you on the best way to register your business. Some people start a limited company, while others register as a sole trader, or a partnership, whichever is most suitable.
- Wholesaler – Obviously, you need to source a reliable wholesaler who can deliver products in suitable volumes, and an online search will help you to find a local supplier. It is important to do your homework to ensure that the wholesaler has a good reputation, which will ensure that your customers are happy with their purchases.
- Bookkeeping – If you talk to a local accountant, they offer affordable bookkeeping services, and if you start with the right accounting system, this will avoid issues later on.
With all of the above covered, there’s no reason why your new business will not succeed, and you will need limitless energy and a lot of determination if you are to create a successful online business. If you remain positive and have a ‘can do’ attitude, time should see your business steadily develop into a sustainable concern.