Why You Should Start an E-Commerce Business Today!

Salim Rennewi
Aug 22, 2017 · 5 min read

Technology has taken over virtually every aspect of our existence. Well, that’s no more news to anyone who has been around since the turn of the millennium. The focus has shifted from wondering how the technological revolution has been able to penetrate into every area of our existence to wondering how you could harness the numerous potentials of the revolution.

One of those potentials is a rapidly growing sector of the buying and selling industry- the e-commerce sector. The art of buying and selling online is becoming increasingly popular and it is estimated that about 80% of all internet users have purchased an item online. Considering the 3.7 billion internet users, this market is as large as it gets, with a potential to grow even larger. Here are some of the reasons why you should join the e-commerce train today.

A Growth Market

The potential for growth of any market is probably the most important factor to consider before joining. With the e-commerce market, a seemingly boundless potential for growth exists. The National Retail Foundation (NRF) expects online retail to record an 8–12% growth in 2017. This value comfortably dwarfs the estimate for the broad retail market, confirming e-commerce as the next big thing.

People will never stop buying and nothing beats the convenience and variety internet shopping offers. The net worth of the market is projected to worth about $2.5 trillion by the end of 2018. There really is no better time to venture into e-commerce than today. Mitchell Harper, Co-CEO of Bigcommerce projects that ‘by 2022, brick and mortar retail spaces will be little more than showrooms.

Source: US Department of Commerce

Easy To Set Up

E-commerce represents tested waters, a proven business model. Unlike many other businesses that require quite a great deal of research and expertise to set up, an e-commerce business can be set up within a few hours. Platforms like Shopify are specially designed to ease your journey. Details such as payments, checkout, and shipping are already in their care and you can focus on other aspects of the business. Hundreds of professionally designed themes for your store also exist and. The only obstacle in your way is you.

Dropshipping is the dominant model for e-commerce businesses. This is a retail fulfillment method where the store doesn’t need to keep goods in stock. You basically order an item demanded by your customer from a third party (AliExpress.com) and the third-party ships it to the customer. You are saved all the trouble involved in stocking and inventory management. Platforms like Oberlo allow you to easily import drop-shipped products directly into your e-commerce store and ship them directly to your customers. Everything is set for you to succeed. All you need to do is find what to sell, get a customer base and build their trust in you.

Earn While You Sleep

While there really is no such thing as lazy money, some methods of making money are quite easier than others. E-commerce offers the potential to sell your goods, all over the world at any time, probably without lifting a finger. Think of all the challenges you would face in a brick and mortar store- from appropriate location to expanding your reach to opening hours, e-commerce really is heaven. This, however, is not to say that hard work and dedication are not required inputs. You would still need to invest time and effort but on a somewhat minimal and friendlier scale compared to other businesses.

Be Your Own Boss

There is nothing more rewarding than working for yourself. You get to determine the terms of service and you can easily fit the demands of the job with your schedule. E-commerce offers you a great chance to do this. If you are currently unemployed or working under someone, today is the best time to change that status and e-commerce is the easiest way out. What’s more? You could decide to sell your business after a while to explore other business ideas. Shopify records that e-commerce businesses are sold for about 2.39 times their annual profit. As the e-commerce industry continues to grow, rising demand for established e-commerce businesses is expected and the value of businesses would continue to increase.

What You Need to Do

Learn: Though e-commerce is always presented as a simple business model, the truth remains that you must possess adequate knowledge if you are to get to the top of your game and stay there. You need to seek knowledge about what works and what doesn’t. Paid courses that would take you through all you need to know about e-commerce are available and if you are low on budget there are lots of free resources also available on the internet.

Network and communicate: You also need to know what the successful people in the business are doing right and what other upcoming entrepreneurs like you are doing. Move near people that are into e-commerce already as well as focused people who are just starting. Follow individuals such as Richard Lazazzera from Shopify, Jay Baer from Convince and Convert, Ryan BeMiller from Shopping Signals etc. on social media platforms. In the Opinion of Meg Whitman CEO of Hewlett-Packard, ‘communication is at the heart of e-commerce and community.’ So, what are you waiting for? Get close and communicate.

Start: Deciding to start is probably the most difficult process in any businesses. Though the voices in your head may choose to tell you otherwise, there really is no better time to start than today. There would surely be challenges along the way, but you really would never know how to overcome them if you don’t encounter them.

About Me:

I’m an 18 year old entrepreneur who found success in ecommerce and was able to scale multiple ecommerce stores to 6 figures with the help of my staff of virtual assistants! Now i help fellow entrepreneurs chase their dreams and achieve success like i have by teaching them and providing them with insider tips on how to scale up your their ecommerce shop to 6 figures!

Looking to start and scale your own ecommerce store to 6 figures? Follow me on instagram and use all the tips and tricks i put out daily!

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