How to Build an E-Biz on a Budget:
4 Start-up Tips for the ECommerce Entrepreneur
FEATURED COMMENTARY
By Chris Malta Home EBiz Product Sourcing Expert
Many online sellers start their businesses
from a position of necessity. They need a steady income, but they lack start-up
funds, and have little-to-no retail experience or technical expertise. However,
according to Shawna Fennell, president of 1Choice4YourStore.com, those things
aren’t mandatory for an Internet entrepreneur to succeed. Tells Fennell, When I
started my first E-Biz, I was a newly-single mom. I had nothing but my babies
and the clothes we left the house with. Several years later, I’ve got seven or
eight very profitable retail sites, and an E-Biz consulting practice. If I can
do it, anybody can do it.
Easy Entry If you’re considering coming online, but know nothing about eCommerce
and can’t afford to lose any money, Fennell shares several tips to help
alleviate the stress in your transition into online sales:
Consider starting out with a storefront on a reputable selling venue, such as
Yahoo! or eBay. They’re easy to set up, even without a proficiency in coding.
You can easily get started selling without hiring a web designer, programmer, or
SEO consultant much more easily than with an independent web site.
Drop shipping is an ideal product sourcing model when you begin retailing
online. Whenever your customers place their orders with you, you turn around and
place those orders with your drop ship supplier. Your supplier then sends those
products from their warehouse directly to your customers’ homes. You only pay
your drop shipper when your customers pay you, so you don’t have to invest money
you don’t have into inventory that might not sell.
You may not have a great deal of money to spend on search engine optimization,
but you can still do well in the natural rankings if you concentrate on giving
the search engines what they really want: original, quality content. New E-Biz
owners often make the mistake of posting the template product descriptions their
suppliers provide. But if a hundred sellers use the same product description,
the search engines will see a hundred identical listings and only bring back one
of those stores in the results. That’s why each of your products needs its own
unique copy. Even if you have hundreds of products, you can work on a set number
a day until you’ve written a fresh, unique description for every item.
While you wait for your SEO efforts to pay off, you may have to invest in some
Pay Per Click ads to bring customers into your store. Fennell recommends
advertising on a shopping search engine, rather than a traditional search
engine. Typically, the cost is lower, and the conversion is higher. Your Google
ad may bring in ten times more clicks per day than your ad on a shopping search
engine, but you’re going to see about the same number of sales resulting from
those clicks. And with the shopping engine, you’re only paying for one-tenth of
the clicks.
Walking the Walk Opening an E-Biz isn’t a magic bullet, or a quick fix for all
your financial woes, but it is a low-risk, low-investment opportunity for anyone
willing to do the work. The key is to set realistic goals and take practical
steps to make them happen. As Fennell points out, It takes consistency and it
takes time, but it can be done. If someone is prepared to study, to apply the
things they learn, and most of all to stick to it, they can build an online
business and be very successful with it.
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