3 Key Thoughts When Starting an Ecommerce Business

Before starting an ecommerce business you may want to reflect on some of the more subtle aspects of being in business. For example, getting to understand current wholesale distribution trends. Turns out the finer points are just as important as the more tangible ones like developing a marketing plan or designing a website.

#1 See your business as an investment

Researching the basics of an ecommerce business is a crucial first step to take . . . and one that should not be overlooked.

Simply put, as with any investment, proper research lays the foundation for success.

So rather than operating off of a hunch, you can learn more about things like different business structures and the fundamentals of selling products online.

That’s why, when starting an ecommerce business, it’s a good idea to think of it as a long term investment that will yield positive results over time.

#2 Don’t try to know everything

These days there’s no shortage of information available on just about everything you can imagine, including the ins and outs of starting an ecommerce business.

But too much information can be overwhelming.

“At the outset, you don’t know what you should know,” points out entrepreneur.com guest writer, Brian Roberts, “so you end up trying to know everything. That’s a recipe for burnout and frustration.”

And he goes on to explain that the goal is to find the right information at the right time. Otherwise, you’ll end up running in circles.

#3 Be ready for the unexpected

Unexpected circumstances and business surprises can come up at any time and you’ll want to be prepared for as many as you can. Here are just a few examples:

Remember the old adage about the customer always being right? While that is still true, it is also true that some customers may still be unhappy and mean-spirited . . . even when you’ve gone out of your way to help. So how will you deal with their concerns?

Another example is packages that are lost by shippers. Unfortunately, it does happen. But having a contingency plan in place lets you know how you’ll handle this situation.

Also be very explicit about your store’s policies, especially because many shoppers will only skim the surface without reading the fine print. With clearly written policies on your site’s main page, you leave no room for misinterpretation later on if there’s a problem.

All things considered, starting an ecommerce business, and being successful at it, requires not only proper forethought and contingency planning, but also dedication and patience over the long run. But the payoff will be well worth it.

Have some thoughts on this blog post? Please feel free to leave a comment below!

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