How to start a profitable eCommerce business from scratch
How do you begin building a successful eCommerce business?
In one of my recent post, I talked about how in this 21st century eCommerce business has become one of the most prominent business that everyone wants to start up.
In Nigeria almost everyone wants to have the know how knowledge of starting an eCommerce business because of the huge profit it comes with.
Starting a successful eCommerce business is not just a get rich method, but it can give you a high profit margin if you will learn how to put the important steps and strategy to start up.
In this post you are going to be learning how you can get a head start on how you can start your own eCommerce business. With this steps you should be ready to go.
What is eCommerce business?
Ecommerce business is a business platform built by either an individual or group of people with the aim to sell physical products and make profits with the use of a medium such as the website, eCommerce platforms, social media platforms etc.
Example of eCommerce platforms are Jumia, Konga, Dealday, markethub etc. Also, an individual can build his or her own website that show case physical products that they sell.
Big companies and individuals also use social media platforms like Facebook and Instagram to sell their physical products. They can even use Facebook to create an eCommerce store that helps them to display products they sell.
Ecommerce business is a very lucrative business you can start if you will learn how to apply the set ups. If you want to learn how to totally and successfully build a solid eCommerce business plan, here is a business plan you can follow that shows you how to profit 10x in eCommerce business click here to learn how.
Steps to building an eCommerce business plan from scratch.
#1. Choose the product niche you want to focus on
It is very important you focus on the niche you want your product to come from. When you are able to know the product niche you want to focus on, you will be able to source for the right products you will want to sell in your eCommerce platform.
There are different niches in you can focus on but it is very vital you focus on product niches that will yield high profit margins for you.
Vital product niches you need to focus are: Health, weight lose, Kitchen accessories, security, and home appliances. For you to choose a product niche you can go to eCommerce sites such as amazon, aliexpress, jumia and konga.
Click on the categories options or departments tab on amazon and choose your focus niche. You can also dig down and go to the sub categories to select from.
This is how you choose from different product niche to sell.
#2. Do product research on your niche you just select.
You need to do a research on the product in your niche. The reason for this is to filter out products you know your audience are not going to be interested in.
You might think that every product is what your customer intends to buy, but that is not the case. You have to dig down to specific type of products so that when you are selling you are able to have high profits.
The next thing for you to do to get good product research is to know the problems faced by your customers or your audience you will be selling to.
You can’t expect some one who is fat and want to lose belly fat to buy a product that is meant for diabetic patients. A weight lose person will want to buy a product such as weight lose tea and recipes.
To know the problem of your audience market will help you select profitable product to yield you 10x profit in eCommerce business.
#3. Test if your product will be profitable to sell.
How do you test your product to know how profitable it will sell?
So many people who venture into eCommerce business seems to find it difficult to make the profit they expect to make and this is due to the fact that they don’t test if their product will sell.
It is one thing to get your product research and its another thing to test if that product you selected will sell.
To test your product if it will sell, you need to know how to use Facebook ad to test.
Here is a product that will show you how to create a successful Facebook ad that will help you test your product if it will sell.
#4. Sourcing for your profitable product.
Where do you source for products to sell?
I get it. We source our products from china. Many people go to china to source for products, but do they know the exact place and site to fetch the right product?
Also, can you get a cheap product that won’t discourage your enthusiasm to start an eCommerce business.
This is one mistake people face when they want to start an eCommerce business. It is important to avoid this mistakes so that you can successful profit in your business. You can read the five mistakes to avoid in eCommerce business.
You can source for cheap products from this two sites and still make high profits in your eCommerce business.
Click here to watch a video training by the grand master of mini-importation Mr Patrick Ogidi on how to source for products from this two sites.
#5. Using the right logistics company to import your product to Nigeria
If you don’t get this right you will lose before you begin.
Getting the right logistic company to help you source for your product in china and also help you to import it into the country is what you should focus your strength when it comes to eCommerce business.
Nigeria has so many logistic companies but getting to know the best and reliable one can be a cumbersome effort.
I have used a logistic company that has helped me with the sourcing of my product form china and straight to my country. All I had to do is to supply them with the link product and they do the rest.
If you are looking for a logistic company, you can use NBC logistic Company, Chrisvicmall and Just get to their website and reach out to them.
#6. Set up a website
Having a website to sell your product can be profitable but how many people are able to create an eCommerce website?
There are few successful people who have been able to create an eCommerce website for themselves.
An eCommerce website is a platform that show case your products, price list, buy button and other categories of different products.
This helps a customer make different choice of products to buy and also feel like coming back to the website to purchase more. That is the benefit of having a website.
If you can’t create a website, there are other option such as selling on other eCommerce platforms like konga, jumia, dealday and markethub.
You can also sell using social media platform like Facebook and Instagram. Those who don’t have websites are good at using the social media to sell their products to their audience.
#7. Create a sales funnel for your product
This is an advance technic in eCommerce business.
This technic helps you to sell 10x profit of your product and helps you build a relationship and engagement with your customers.
The use of sales funnel in eCommerce business helps you to generate more sales and also gives you the chance to sell other products that your audience market will be interested in.
What the sales funnel does is to take the customer from a level of being just a prospective customer to being a buying customer. This is the advantage of sales funnel.
To learn how to really use sales funnel to generate high profit in eCommerce, you can watch this videos.
#8. Have a set up payment plan
One last thing is to have a setup payment plan to receive payment of goods bought.
Without this you can’t be paid to. It is highly recommended to put this in place and there a various options to do that.
You can use a detail of your bank information and name by placing them on your website page so that people can make payment to your bank.
Another way is to put an add to cart button on your website. If you do have a website, this enables a customer to add a product to their cart and make payment.
Also, you can use the option paystack. This takes the customer directly to the paystack payment box to make their payment using different options to pay such as the ATM card, Bank account, QR code and even *777#.
The most widely use option is the cash on delivery. This is effective because everyone is using it even the big eCommerce industry like jumia and konga.
This helps to avoid scam and to give the customer assurance of product genuity, refund policy and security reasons.
That’s it. You can follow these steps to start your own eCommerce business.
Fill the form below if you want to learn how to start an ecommerce business and to profit 10X in eCommerce business starting today.