As the internet continues to dominate our daily lives, more and more businesses are choosing to have an online presence. In fact, e-commerce businesses are becoming much more popular and profitable than traditional brick-and-mortar businesses and they offer numerous advantages. For starters, they usually require less of an initial investment, since there are fewer overhead costs, such as a building, employees, and large inventory.
For people wanting to become their own boss, starting an e-commerce business is a great way to sell products and services to people around the world, often while working work from home. Here’s how you can start your own e-commerce business.
- Funding Your E-Commerce Business
As with any business, you've got to have enough funding to get started. Fortunately, there are many sources for funding your business. Some people ask friends and family for loans, with the biggest advantage of these loans being they have little, if any, interest tied to them. Others take out low-interest loans from banks or credit unions, while some seek out grants from local, state, and federal government agencies. Some even choose to crowdfund online.
- Find an E-commerce Host
Any e-commerce business needs a host that will present the business website on its server. Hosting companies generally offer several different packages to potential businesses, starting with basic options and going up to more elaborate packages. Most packages are based on a website's bandwidth, how much you can afford to spend on your website, and how many perks, such as online shopping carts, you want your business to have.
- Create a Website
If you've got the know-how to do it, creating your own website can potentially save you thousands of dollars. However, if you have any doubt in your mind as to your creative capabilities, it's best to seek out the services of a professional web designer. If you choose this route, be sure to use a designer that has experience in creating e-commerce businesses. Don't be afraid to ask for references, and also to look at examples of their previous work.
- Hire an Accountant
Finally, hire an accountant you trust to help you manage the finances. Most of today's accountants are skilled in e-commerce business dealings, but be sure to verify this with your accountant before you put your financial fate in their hands.
By doing your homework and being dedicated to your business, it's very possible to start an e-commerce business from your kitchen table and watch it become successful business.
