An entrepreneur who started selling online years ago was looking for a mentor that can teach and guide him on every step to attain success.
Unlikely, he was unfortunate enough to afford to hire a mentor. He learned to study on his my own in a hard way. I mean learning from scratch is really hard to do, but he had no choice but to learn from experience. It is a trial and error basis and in very slow-way. With his excitement to start a business, he runs seven online stores and sad to say that six of his online stores failed and only one succeeded. Here’s what he learned from experience:
1. Ignore Negative Headline, It’s Not Easy
We have heard many stories of about passive income blogs that show people making six figures from their online business. Don’t be too over-whelmed because this does not happen overnight and entrepreneurship is a patience game. Don’t expect too much on your first online store, if you fail, continue to build experience. You don’t have to quit your 9-5 job to build something.
2. There’ A Lot of Free Stuff Online
I’ve seen a lot of people spending $2,500 for an online course and webinars. Learning is good, but if you can get valuable information for free why spend money. Did you get what I mean? There are plenty of online resources that you can get completely for free. Check out Shopify Academy and available webinars on how to build a dropshipping business.
Read blogs and watch YouTube on how to start an online store. Free education is as good as paid ones just be persistent learning more and organizing the things that you have learned. Save your money for your business.
3. Don’t Rush Things
Focus your attention to only one store, if you want to win something. Having one store at a time will give you more time to build your store or brand. Building one store requires time and effort, adding your products plus creating social media accounts. In adding products, it needs research looking for winning products. It is not just adding all the products that you want, but you need to select products that are saleable and can give you profit.
Creating and maintaining social media accounts also needs time. Post regularly to build an online community that can help your business grow. Creating Facebooks ads and keeping your audience up to date will eat up your time. The reason why you need to focus on only one store as a beginner. Later on, when you already master running a business and gaining profits that is the time you decide to add another store.
4. Don’t Forget the Most Important Thing Having An E-commerce Business.
Your success will depend upon your product and your marketing strategies. You will never get any sales if you never reach out to the right audience.
Don’t hesitate to market your online store or business. If your first few ads failed, don’t over-react. Practice makes perfect as they say. Keep experimenting on ads until you get it done. Add contents on your blog, send your first email to your email list. Reach out to some influencers or fan pages for a shout out.
5. Watch Your Finances
If one influencer doesn’t work in all your shout outs, it is the right time to stop working with them try another one. Watch your budget and make sure you are making money. Try affordable marketing strategies such as advertising and influencer marketing. These are short term strategies that you can see the results in a shorter period of time.
6. Select A Niche with High Search Volume
Choose a big niche with trending products that can stand through time. Benefit from the sudden rush in sales from something that is trending at the moment. Select a niche with hundreds of thousands or millions of searches from Google. Experiment with different products and try to note the best seller items. When the time comes that your best seller items slow down in popularity continue to have other best-seller items.
7. Sell Impulse Buy Products That You Can’t Find in Stores
What are impulsive buy products? These are products that people will buy instantly because they can’t find it in other stores. Another important thing is to make sure it is not mainstream, I mean it can’t be found or buy locally.
Have you ever experienced scrolling on your feed and suddenly you stop and become curious of a certain ad, catching your attention and you want to have it. That is what an impulsive product looks like.
8. Keep Going
Do you know the best-seller in your store? If you don’t know it yet, just keep going and that certain product will give you hundreds of thousands of dollar sales. Keep experimenting with your marketing strategies. Your Facebook ads, retargeting your blog traffic and continue posting regularly on your social media accounts. Reach out with influencers to take photos exchange of something like a free product.
9. One Channel at A Time
Focus on one social media platform to start with. If you are doing it alone, there’s a lot that you need to do. Stick in one platform for now and expand on other channels as you master every social site.
10. Re-Target Your Blog Traffic
Content marketing strategy is one of the best strategies that can bring traffic to your website. Create valuable content every week, let’s say 3-4 post per week will do. Make sure that the target of your blog post is your website.
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Choosing the right strategies to implement will bring you success. It takes a few months for you to see the results, but it is worth the efforts. Pick a channel and study and understand your competitor’s strategies and create your own.
Optimize your product page and if you have enough budget, consider hiring freelancers to lessen your work and watch your sales goes-up. Order products samples to test the quality of the product. First-hand experience will let you know the quality of a product than just seeing it pictures. Let them help you post on social media and process orders. In that way, you will have less burden on part scheduling post daily and processing orders.