Are you tired of looking for another way to earn money?
Are you too busy to work on a business while working your day job? You might want to consider starting an ecommerce business.
Starting an Ecommerce Side Hustle
It’s a great way to earn passive income that you can use to start another business if you plan to become an entrepreneur. This post will give you five tips that will help you start your ecommerce endeavor off the right way.
Develop a Content Strategy
Getting people to come to your website is one of the most important aspects of running an ecommerce business. Having a great website and a great product won’t help you if nobody sees it.
When your site is up and running, you need to fill it with quality content that will encourage your visitors to engage with your business. A viable content strategy will help you stand out from your competition and give visitors a reason to come back and buy from you.
An effective content strategy involves a few factors:
- High-quality, informative videos, blog posts and other types of content,
- Effective optimized for search engines,
- A social media presence.
Your content is the foundation of your website, so it’s important that you don’t neglect this part.
Buy Someone Else’s Business
Contrary to popular belief, you don’t have to start your ecommerce business from scratch. If you have the funds, you can purchase an ecommerce business from someone who has already done the heavy lifting for you.
When you’re buying an ecommerce business, there are a few things to consider:
- How much traffic does the website receive?
- Can you verify the amount of revenue the business is earning?
- Do the customers appear to be satisfied with the service?
- Is it possible to scale the business?
If you’re in a position to purchase a business outright, this might be the easiest avenue for you. You can skip all of the challenging parts, like finding new suppliers, building a website, amassing a following and earning your first few customers.
Learn From A Mentor
Don’t go it alone. The most successful business people learn from other successful business people.
Having a mentor will help you avoid many of the pitfalls that face ecommerce entrepreneurs. If you seek advice from others who have been where you are, growing your business will be much easier.
Fortunately, it’s not hard to find a mentor. There are several organizations that can connect with experts in your industry.
SCORE is an organization that provides consultations with business mentors for free. You can set up appointments for phone and in-person meetings. Best of all, most of their resources are free!
Dominate A Smaller Niche
While it can be beneficial to appeal to a wide variety of customers, sometimes it’s better to dominate a smaller niche. Focusing on a narrower niche makes it easier to stand out from the competition.
As a matter of fact, if you focus on a smaller niche, you won’t have as much competition. Here’s an example. Let’s say you want to provide landscaping services. It could be a good idea to have a wide variety of different types of landscapes you can service.
However, if you decided to hone in specifically on golf courses, you become the expert in that space. This means that you can position yourself as the authority on golf course landscaping which means you will have an advantage over companies that have a wider customer base.
Make It Easy For Customers To Buy
One of the most frustrating parts of buying products online is when it’s difficult or confusing.
How many times have you seen a product you were interested in online, but you couldn’t figure out how to buy it? It could be because it was too difficult to find information on the product itself.
Don’t make this mistake. If you don’t make the purchasing process easy and seamless, you won’t get any business. The harder a customer had to work to make a purchase, the more likely it is that they will give up and go elsewhere.
Here are some tips to make the process easier for your customers:
- Set the default shipping option at the cheapest setting.
- Minimize the number of forms that the customer has to fill out.
- Save billing and shipping information if possible.
- Allow the customer to buy without setting up an account.
- Provide a variety of payment options.
The easier it is for people to buy your product, the more money you will make.
Building a passive income enterprise through ecommerce can be a challenge, but the rewards are well worth the work you will put into it. The tips in this post will make it easier for you to build a business that will earn money while you sleep.
Photo via Shutterstock
It is now essential to have a content strategy. People need more from an online store than just products. They need to be informed as well.
Ecommerce will just grow bigger this incoming year. More and more people are becoming more comfortable purchasing products online. I think that a time will come where most items can be purchased through this medium.
What is more commendable is the dawn of augmented reality which will have a massive impact on ecommerce and how products are presented online.