The Capital
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The Capital

10 Tips I Wish I Knew When Starting My Ecommerce Business

1. Focus on the products that are easiest to sell and most profitable. Don’t get caught up in building a collection of products that don’t perform. For one of our companies, we invested a lot of money upfront into our designs without testing the market demand. Don't make the same mistake.

2. Don’t go international until you’ve saturated your local market. We started selling in Brazil as our reasoning behind it was that ads are cheaper there and the manufacturer was located there. We didn't see any returns from our ads yet.

3. Never sign a long-term contract unless you’ve been working with the vendor for years. We have changed 4 suppliers in the last 18 months to improve the quality of our products. Find a supplier that is on the same wavelength as you.

4. As early as you can, build out automated email flows. It’s the gift that keeps giving. Klaviyo is undoubtedly the best service for this.

5. The best way to collect email addresses is by selling products or being mentioned in notable media newsletters or blogs.

6. Paid acquisition should exclude current customers with rare exceptions. Email is for retention.

7. To be successful in paid acquisition you need to know how to create a lot of compelling ads. It’s probably best to create ads in-house. Use an agency to manage those ads. Create a lot of user-generated content to increase your social proof. There is a tool called Billio where you pay $59 for a video for a UGC video.

8. Try to outsource and delegate the boring work. Hire a virtual assistant in the Philippines and India to add your products and update your products on a regular basis on Shopify and other platforms.

9. Trade conferences are worth their weight in gold. Don’t hesitate to go to one and stay in the hotel. You might end up meeting someone in the Elevator.

10. If you’re super profitable, pull the money out of the business and force yourself to operate lean. Diversify your portfolio by adding different brands and products to your portfolio to avoid blunders. Things like rising freight cost, a law change, or bad press can ruin your E-com business overnight.

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Manav Golecha

Manav Golecha

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