WHAT ARE THE KEY POINTS TO CONSIDER WHILE CREATING AN E-COMMERCE WEBSITE?
Covid has prompted the digital and e-commerce to come at fore front of business models. Unparalleled and unforeseen growth happened in the digital and e-commerce sectors amid the COVID-19 crisis. A hike in numbers of launch of e-commerce businesses and speeding up in digital transformation of existing businesses is witnessed in last two years.
If you are mulling up over an online business idea; before launch, certain questions should be answered. So that it goes well without much hiccups and you start getting your market share.
There is much more to starting an online business than just registering it with the state. Here, we have put together this simple guide to starting your online store. These steps (not necessarily in the order they are appearing)will ensure that your new business is well planned out, registered properly, and legally compliant.
1: Plan your business
The findings show the strong uptake of e-commerce across regions, with consumers in emerging economies making the greatest shift to online shopping. A clear plan is essential to trap the new shift. It will help you map out the essentials of your business and discover some unknowns. A few significant topics to consider are:
- Identify the need of your product.
- Who is your target market?
- How much can you charge customers?
- What will you name your business?
2: Allocated budget & Human resource
Ecommerce business is much more than a website. To earn money, you need investment in both form, money as well as human efforts and hours. You need a solid plan to decide about the money to be invested and a team size you would need initially to take care of operations. Right from the logo designing to an operational website, you should have a budget. Once website is ready to go, you will need budget for the updation, maintenance of the website as well as a team to manage operations.
3: Empanel suppliers
Optimum level of inventory and a channel to have uninterpreted supply of the products is core of your ecommerce business. If you fail at this very first step, there won’t be any use of your development and marketing efforts. You should be pretty confident about having the product stock and on time delivery to customers.
4: Start with creating brand identity
First visible sign of your business coming to existence come up with the logo designing. Along with logo, you can create a power point presentation and excel sheet that includes mission/ vision, sales target, resources needed, monthly expenditures and investment you need.
5: Create your business website
Not limiting the website just to UI and layouts, selection of technology is equally or rather greater importance. You should decide upon the right platform which matches to your vision and target reach. If you think that your requirements will evolve as you grow and you would need lot of customization for implementing different policies, you should select a framework like Laravel rather than standard CMS like WordPress or hosted solutions like shopify. If your requirements fall into the standard ecommerce setup and you do not need much customization, you can go ahead with CMS or hosted solutions. Remember, with CMS or framework, you are the owner of the code of the website and you can host it with any hosting company whenever you feel changing it. The key thing to focus is the Scalability and Code Quality. Setup a best quality conscious CORE team, allocate a decent budget and your solution will get ready in months…
Building an ecommerce website allows your customers with multiple options to purchase products from different categories. By using the website development frameworks like Laravel or node JS, you can easily set up your own eCommerce website.
6: Updating & Maintenance
As you grow, website needs ongoing maintenance and updation. Rely on an experienced team with required resources.
7: Other formalities
Form a legal entity, tax registration, Bank account, necessary permits and licenses etc. Set up your office & business phone system are few of the points without which an ecommerce in long term won’t be feasible to operate.
Refining your digital presence is an ever-growing job, but these points should help you get the ball rolling. If you have any queries or are looking to shape up a powerful ecommerce solution, we’d love to hear from you!