Today’s Maverick Minute… 8 easy steps to start a successful eCommerce business! Before we begin, a friendly reminder to subscribe to our channel and, check out our different playlists! I’m sure you’ll find great information about your business…

So STEP 1… Find your niche! One of the biggest challenges of online selling is competing with major retailers. By finding smaller segments of customers, you’ll tap into a narrower market where you’ll have a greater chance to build brand loyalty and add value to your products…

STEP #2: Make your business official! Before you start selling, you need to decide on a business structure… You also need to do some research to see if there are any required permits or licenses that your business needs to apply for. Then, you register your Entity name, DBA or trademark, then you apply for an EIN — Employment Identification Number — and you register your domain, a unique URL… By the way, we have a complete guide on the different types of business structure on our website Now your 3rd step is to pick an eCommerce platform! An eCommerce platform software is the heart of your online store and you gotta pick the right one for you! Sellers who prioritize ease-of-use should look for cloud-based eCommerce software.

These all-in-one selling solutions typically provide you with website builder tools, customer support and secure website hosting. On the other hand, if you would prefer to have a lot of control over your site (and you have a decent amount of technical experience under your belt) open-source software might be the best choice. Also, before opening your online store… […] you have to create your eCommerce selling policies. And that’s your step #4! In order to accept online payments, you need a payment processor.

 

...

And for this you have 2 options: either you sign up with the merchant account or, you integrate a Payment Service Provider. I know this part can get tricky… That’s why Merchant Maverick has created a free ebook on the matter. Youll find the link below. You will also need to create a refund and return policy, and determine your shipping strategy. Now STEP #5 Set up your online store! This is where you choose a template for your online store, add inventory and price your products.

You will also need to factor in Search Engine Optimization tactics and make sure that your online store is mobile-friendly. Also, very important, make sure to secure your site! You want to make sure that your customer’s payment information is secure. That brings us to our STEP # 6, use the tools of the trade! As you peruse your software’s app marketplace. You should consider integrating with software in a few different categories. In particular, you should look for tools to manage your SEO, customer relationships, and accounting. Now that everything is set up, it is time to bring the customer into your online store! so STEP # 7 Market your new online store!

There are a variety of ways to market your online stores such as email marketing, social media, word-of-mouth, online advertising and much more! Whatever methods you choose, make sure they are sustainable in the long run, and that you can maintain a good return on investment. And finally, here’s your final step. #8 and final STEP: keep researching and improving! At the beginning of the journey, you will probably be wearing all of the hats, CEO, head of business (sales), graphic designer, web developer, bookkeeper, head of marketing…

So, even as busy as you’ll be, it’s important to keep searching for ways to improve your store. That’s it for today! Come back next week for the part 2 video, in which I will address questions for YOU to answer and give some details about our preferred eCommerce platform options. See you next week! Want more info and details on how to start an eCommerce business? Check out the links! You also might like our video on how to find YOUR niche market!.

 

7 Legit Ways To Make Money Online – How To Make Money Online

Read More: 7 Legit Ways To Make Money Online How To Make Money Online