Tuesday, 7 March 2017



You know you want to start a business and give yourself the best shot at success, but perhaps you’re still considering the kind of business you want to pursue. After all, you probably have a number of small-business ideas.
One thing is for certain: the type of business you start should be well-suited for your expertise and business goals. Successful entrepreneurs bring their varied experiences and skills and allow these assets to inform their business decisions.
So, assess your priorities and lifestyle and business goals. Perhaps you’re looking for a retail part-time business that’s entirely online and has to do with the growing pet industry. Or you have a home-business idea of setting up an online gluten-free catering business out of your kitchen. Figuring your industry, scale and funding will automatically narrow down your options.
Let’s explore three common types of businesses to get you started.
Ecommerce
Ecommerce is an online business idea that would allow you to sell goods and services either on your own website domain or within an online retail marketplace like Etsy or eBay.
Oftentimes, with ecommerce businesses, there’s room for flexibility and a lower threshold for entry. Business can be conducted part-time and remotely, depending on your business model.
Online retail is a growing global market, accounting for $1.3 trillion in sales worldwide in 2014, according to a report from eMarketer. That figure is estimated to reach nearly $1.6 trillion in 2015.
Let’s say you’ve already figured out there is a viable market for the products or services you want to sell. You’re going to need a website. Good retail websites rely on three basics: Clear images of your inventory, descriptive text explaining the inventory and an easy payment funnel.
Setting up a retail website that sell products is largely a DIY job these days. Adam Callinan, founder and CEO of BottleKeeper, an online retail company that sells individual bottle coolers, didn’t have a coding or web development background, but he created a website himself using WordPress and various ecommerce plug-ins.
He also relied on the advice of those who’d been there, done that. “One of the things I did in hindsight that worked really well is that I had talked to other people that had already done it,” he says.
Ecommerce platforms, such as Shopify and Squarespace, are both one-stop shops that allow you to select a design template for your storefront, upload photos of your inventory and add descriptions. Both platforms have payment funnels and will host your store for a monthly fee.
On the other hand, creating a website that sells services, such as tutoring or access to a database that allows you to search jobs, requires a different business model and web development than an inventory-driven business. Services require explanation. So, from the get-go, make it clear to the visitor what your service provides, whether it’s illustrated in the company name, using an emblem/image on the website or having the service stated front-and-center on the website’s homepage

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