How to start an e-commerce business
LIV Consulting helps clients start businesses. Here are our 4 Steps to start an e-commerce business
LIV Consulting (2020)
Step #1. Research
1.1 Business Model
- Firstly, you must decide on the right business model (create, capture & deliver value)
- Focus on resources available, processes required to deliver effectively, value proposition & how to monetize and be profitable
1.2 Niche down
- Initially you will start by niche down your products
- Pick product features that satisfy market needs
Step #2. Target Market & Product
2.1 Identify your target market
- Identify personas , image & customers
- Understand what your business represents
2.2 Product
- Align your personas to your products
- Select and evaluate the products
- Select a limited number of products
Step #3. Business Plan & Registration
3.1 Business plan
- Finalise your business plan that is realistic and well explained as you may need to present this to potential investors
- Include information from regarding your business model, niche products, target market and how you have aligned your products to the personas
- Include a realistic budget
3.2 Registration
- Ensure that you register your domain
- Register your business
Step #4. Setup digital … then market
4.1 Setup Digital
- Design & Dev a suitable suitable website
- Select an e-commerce platform
- Furthermore, ensure that you select suitable branding & a logo
- Setup social media accounts
4.2 Market your business
- This means you must create awareness with PR & advertising
- In addition, ensue that you focus on SEO & content
- Finally, use suitable social media & campaigns
For more information and guidance on how to start an e-commerce business contact info@livconsulting.co.za
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