Start an Ecommerce Store
(Shopify, Amazon, or Something Even Better)
In case you haven’t noticed, eCommerce is massive around the entire world. And the stats speak for themselves…
By the year 2021, worldwide retail eCommerce sales will reach $4.9 trillion. (source: Shopify Plus, 2019)
Anybody can create an eCommerce store, and therefore the playing field has been leveled. And you don’t need to be as big as Amazon to make good money in eCommerce (FYI – don’t worry if you’re not as big as Amazon, nobody else is either). The good thing is, you only need a tiny share of the market to earn a part-time or even a massive full-time income!
HERE ARE THE 5 SIMPLE STEPS YOU NEED TO TAKE…
Step 1: Find a hungry market to sell to!
Most people will tell you to start with the product.
The secret is starting with finding a hungry market and figuring out what they’re buying. (Good examples of a hungry market are health/weight loss, skin care, pets, survival, golf, just to name a FEW of them!)
Step 2: Choose the Products You’re Going to Sell!
What are the items these markets are already spending money on now? What are the hot items in the niche? Even better, what do they buy over and over? You don’t even have to create your own products.
The fastest way to get started is with a strategy called drop shipping. This means you don’t have to stock your garage full of products. You simply order the products that people buy from the manufacturer or fulfillment center. They ship it directly to your customer.
Step 3: Find a Platform to Sell Your Products On?
It’s easier than ever to set up your eCommerce store online. Amazon FBA selling is a great way to let Amazon handle many grunt work, including storing and shipping your product (Amazon FBA = Fulfilment By Amazon).
Tons of platforms make it possible for anyone to create their own eCommerce store with simple drag and drop features, including Shopify, Magento, WooCommerce, and Wix (and plenty more!)
Step 4: Get Your Domain Name!
Your domain name is how people will find you online. It’s like the sign on the front of your offline store on Main Street.
Once you figure out what you’ll name your website, you can go to a domain provider like GoDaddy and purchase your domain name in just a few quick and easy steps.
Step 5: Promote Your Store!
You need to get eyeballs to your store and product pages. You can do this with methods like SEO (search engine optimization), paid ads (Facebook ads, Google Adwords, etc.), or even free social media marketing.
PROS
- Low Start-Up Cost (Start for Less Than $100)
- No Experience Necessary (Learn as you go!)
- Sell to a Worldwide Market
- 24/7 Operation (Sell and Make Money Night and Day!)
- Run Your Store from Home
CONS
- Competition Is Fierce
- Steep Learning Curve to
- Marketing Your Products
- Dealing with Unhappy Customers
- Shipping (If you don’t use dropshipping)
- Potentially Low Profits on Purchases
If you are serious about building a home-based business, creating your own e-Commerce store is definitely an option. However, suppose you are looking to generate a sustainable business that doesn’t force you into a continual transaction of dollars for hours. In that case, you might want to keep your income options open to concepts that deliver passive residual income. Stay tuned for Part 4 and Part 5.
To your success!
Bill Garner
