E-commerce, a Business Model that Can Make You Your Own Boss
Based on the fundamental definition, e-commerce is any transaction made online. It can be a purchase of goods services. The availability of the Internet worldwide has created a business environment that thrives. E-commerce is a business conduct that is very flexible and promising to individuals.
The business model does not require much budget. And under several circumstances, you can even start trading without even having to have stocks. All you need is an Internet connection and good language skill.
The easiest place to start trading goods is in a well-known e-commerce platform. Sign yourself as a member trader in the platform of your choice, and you can start selling right away.
The competition lies in the stars and reviews from the customers. They are based on the quality of service the shops can offer. If you can handle complaints and inquiries quickly and efficiently, you will be most likely to climb to the top trader list soon.
The downside will be a tough competition of the pricing. Although there might not be any written rules on the lowest price of an item, setting it up below the average of the top-rated shops will make a store lose the customer trust. People will suspect an item with a very low price.
Another downside is that you must have a superb administrative knowledge of logistics. You are handling your store, so your inventory is your responsibility alone. It is very tricky, and you might consider taking a special course on the subject. You can learn from the testimonies of the site’s clients on how the course can improve their selling capacity into becoming more efficient.
The concept of dropshipping is to sell items without having to store them in your inventory. You are going to be free from item maintenance, which can be the ideal form of online business if you are selling items with a short lifespan.
Drop-shipping has its own platform, Shopify.com. You can open an account there and start reaching for customers. The competition in this business lies in the aggressiveness of your promotion. By promotion, it does not mean that you must start a marketing campaign on your own. Setting up a social media account that has posts about the for-sale items is enough. The key is to be consistent with the frequency and content so that your page visitors are not disoriented.
Establishing an independent site
The two suggestions above involve a third party to proceed. And you must know that there is an alternative of the twos, which is to create your own trading site.
First, you need to realize that creating a site might be an easy job. You can even find a Fiverr free-lancer to do the task for you, and with extra dollars, you can get a well-designed site. The hardest parts are in the content consistency and customer care.
If you are the only one administrator for the business, you will be overwhelmed by the number of orders you receive. And believe me, you will. It is very rare for an e-commerce store to go bankrupt because of no visitors have ever made a transaction on the site. Instead, what mostly happens is that the store gets too much order and the system collapses. They end up with discontented customers who give bad reviews, and the store’s credibility will be declining ever since.