Start your own E-commerce store

Step 1: Profitable Product Selection

• Niche collection- You have to focus on one product and service. For example when you see below image by seeing the logo in mind click what they are up to. For ex vision of McDonald’s logo reminds you Burger, Nescafe’s reminds you coffee etc.

• Sell product you have knowledge about- You should sell that product with which you will be deeply connected. Write down your strength and weakness, by doing this you will come to know your passion.

We have live example of PATANJALI brand.Baba Ramdev has put his effort and knowledge in ayurvedi medicines and its successfully growing.

• Category Research- After getting to know about your area of interest , you can move to category research, where you will research which product you want to sell, which you have good knowledge or command and customers will also buy it.

You can also search for trending items, best seller in different websites (Amazon/ Flipkart) and do your research about that product. You can get some research papers online for your in-depth research study.

Step 2: Analyse E-Commerce Market Opportunity

• Keywords analysis- You can use Google AdWords where you can search about you product demand rate, countries (place) its trending, product price & keywords are used by the customers.

Step 3: Target Customer Identification

• Study Demographics- In order to create a segment would be things like demographics (gender, lifestyle, etc.…).Targeting your market is simply defining who your primary customer will be.
• What are their behaviour pattern? What are their biggest issue in their niche? Why would they buy your product? Find out answers of these question to make your vision more clear.

Step 4: E-Commerce Idea Validation

• Market validation is the process of determining if there’s a need for your product in your target market. Validating your business idea can enable you to reasonably predict whether people will buy your product or service, and whether your business will be profitable.

It’s important to validate your idea early in the entrepreneurial process to ensure you don’t waste time and resources creating a product that isn’t a good fit.

Ask yourself:

• What’s the value of my product?
• Who’s the target audience, and what assumptions have I made about them?
• What differentiates my product from existing ones?
• What hypotheses do I have about my product, pricing, and business model?

Step 5: E-Commerce Brand & Product Positioning

Speak to your position with clarity. Your product should stand out with some specific features:

• Speed
• Convenience
• Guaranteed

Your priority should be trying to learn exactly where your product fits in the market, how the product can be differentiated from similar existing products i.e. its uniqueness, and why customers should invest their hard earned money to buy your item i.e. what existing problem does it solve?

For ex. Selling cakes and pies is not a unique idea. But selling them as nut and vegan-free options in a highly saturated market.

Step 6: Pricing your Products

• Cost calculation- You can break each of these components down in materials, labour, and overhead.
• Competitor’s price lookup- As you’re figuring out how to determine the selling price of you products, evaluating your competitors will be extremely helpful.

Step 7. Technical Work

Now you are ready make you e-commerce platform live. Don’t scared with technical work-find domain name, making payment gateway, uploading products.

• Find domain name (URL of your company)- There are lots of websites where you can easily select an URL (Go Daddy/Name cheap/Big rock)
• Hosting your E-Commerce Store- There are hundreds of web hosts out there-Shopify/HostGator/Bigcommerce/Dreamhost. These website are ready to use and also have some free days trail. You can go through these website and find out which suits you best.
• Website security- SSL is a security protocol that determines how to encrypt data using specific algorithms. The secure socket layer SSL protocol assesses both the data to transmit and the link, and determines encryption variables for both.

When customer see SSL security tag in your website they feel safe and secured.

This post has covered definitive actions you can take that will help you become successful with your product in different markets.

Thanks