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
No comments:
Post a Comment