If you are ready to start an online shop with a global reach, but not sure where to start, you should know that it has never been easier to launch an online business. Whether you’re looking to replace your income with an online shop or just make some extra money, following these steps will help you get your idea off the ground. If we take into account that the majority of startups fail within the first few years, you should do it right from the start.
1. Business Structure
The simplest type of business structure is a sole proprietorship, and it can be operated by an individual or a couple (husband and wife). However, you won’t have protection from liability for your business’ obligations and debts. Therefore, many people opt to go with an LLC (limited liability company) because LLCs are more flexible and involve less record keeping. Also, the owner is typically not personally liable for their business’ obligations.
2. Choose a Strong Name
The name of your online shop can’t make or break your business, but it is still important. Some people obsess over it, so our advice is to write down a list of names and give yourself a week or two to choose it. Go for a name that’s easy to pronounce, as original as possible, and with an available .com domain. A unique name will also help you market your business and avoid potential trademark infringement. Taking a look at social proof can help you a lot in picking the right product.
3. Get a Domain Name
Register a domain name for your online shop. To check whether someone else is using that domain name, you can type it into the address bar of your browser and see what comes up.
4. Choose Your Product
When choosing a product to sell, choose the one you feel passionate about because it will make your daily tasks of running a business a lot easier. Also, you should have a good understanding of the market, as well as technical and legal requirements. You can also identify well-performing niches, follow trends, and think about whether the product will bring customers back to you.
5. Set Up Your Online Shop
To launch your e-commerce store, you will have to take care of a few things. First, you will need to build a website. If you’re savvy when it comes to web development, you can do it yourself. Otherwise, it would be a good idea to hire a web developer. Hire a professional to help you with creating a website that looks the way you want and includes the features you need. Next, you’ll have to purchase web hosting, so your site has a place to live online. Hosting is often offered by the same companies that provide domain registration.
6. Online Payment System
In this day and age, providing the option for online payments is absolutely imperative as the days of order forms and mailing checks are long behind us. You need to be able to accept payments and process transactions directly through your website. DG1 offers an integrated payment processing system with multiple payment gateways (including PayPal, Braintree, MasterCard, American Express, and more).
7. Product Delivery
Your delivery methods can range from shipping goods via courier to using a fulfillment company. It all depends on your product type and how you are handling it. By choosing an online drop shipping business model, you will not have to deal with any inventory, including storing your products and having to ship them yourself.
The last thing you need to do is not let your online shop remain buried under thousands of other sites. Create a good marketing strategy to drive traffic to your website – engage in content marketing, register your shop with Google, pay for Facebook advertising, Twitter ads, and Google PPC.
Every DG1-powered online shop is equipped with all the tools necessary for achieving success. Our all-in-one platform provides website building, marketing, e-commerce, booking, and mobile-app features, preparing your e-business for success in the competitive global market.