How to Start a Business: Online Store Checklist

How to Start a Business: Online Store Checklist


Thanks to the rise of dropshipping and ecommerce
it’s never been easier to run your own side business online. Yet it can still be a daunting process, and
oftentimes knowing exactly how to start an ecommerce business – one that actually makes
money – can be remarkably difficult. If you’re thinking of starting an ecommerce
store, maybe you know the feeling too. But don’t worry, because in my hands is
a clipboard that changes everything. ___ Hi everybody, it’s Jessica from Oberlo,
and today I am going to share our How to Start an Ecommerce Store Checklist. We’ll go over everything you need to know
to setup your online business. We’ll cover ecommerce marketing, we’ll
talk about where to source products, and we’ll share a few other tips and tricks. By the end of this video, you’ll see that
creating an ecommerce business is much more doable than you might have thought. Ready? Let’s get started. Our nine-point ecommerce checklist begins
with finding the right platform. By platform, we mean a virtual space for your
ecommerce business. Just like a brick and mortar store, you’re
going to need a virtual location to showcase your products. We use a basic ecommerce store template made
by Shopify. Their software is intuitive and used by millions
of ecommerce entrepreneurs all around the world. If you want an in-depth tutorial guiding you
through each and every step of building an online store with Shopify, just click the
link in the description below. The next item on our checklist: finding products If you’re a complete newbie to the world
of ecommerce, you might be wondering what exactly you should sell. There are literally millions of products to
choose from, so finding the right product for you may seem a little daunting. In fact, not knowing what to sell is one of
the most common reasons why people don’t follow through with their ecommerce ambitions. Here are two things to think about when it
comes to picking a product to sell: First, is the product trending? And second, is the product easy to find elsewhere
or available on popular ecommerce sites like Amazon? You can check if a product is trending or
forecasted to trend by using Google trends. Google Trends tracks how often a particular
search-term is entered relative to the total search-volume across various regions of the
world, and in various languages. This gives you a sense of how often people
are looking for a particular product. If more and more people are searching for
a product every month, we can safely say that product is trending. At Oberlo we have lots of resources to help
you find great products to sell online, from Oberlo search tools to our product recommendation
videos on YouTube. There is a link to one of those videos in
the description below – so head there to discover some great products on Oberlo. If a product is easy to find elsewhere, it
might be a generic product. Generic products like jewelry or books are
already widely available. New dropshippers trying to sell products like
these will struggle to compete against bigger ecommerce stores. The better strategy is to find a niche product
or set of products that appeal to a particular audience. How do you do that? Start by making a list of product ideas you
want to sell in your ecommerce store. Ask yourself what your friends, family, and
other like-minded people might be interested in buying. Then go online and see how easy it is to find
the products on your list. What can you find on sites like Instagram,
Pinterest, or Etsy? If there are limited options on those sites,
you might be on to a great product idea. Moving on now with our checklist to: product
sourcing Now that you’ve picked your product, it’s
time for you to find a supplier. This is where the dropshipping business model
is worth mentioning. Among entrepreneurs, dropshipping is growing
more popular every year. Why? It requires less investment up front, because
there’s no requirement that merchants stock their own inventory. Here’s how dropshipping works: You find
products on an ecommerce marketplace like Oberlo. Then you import those products into your store. When a customer purchases one of those items,
you then place the order with a third party supplier, and they ship the item directly
to the customer. With dropshipping, you never have to handle
merchandise. You can also swap out products in your store
in minutes, giving you the flexibility to stay on top of current trends . In addition, apps like Oberlo automate a lot
of this process for you. This gives you more time to focus on things
that will help you to scale your business – like coming up with a great ecommerce
marketing strategy. We’ll get to that later. If you’re looking for products to sell on
Oberlo, make sure you also look for the blue Oberlo Verified badge. These are top dropshipping suppliers. Suppliers with the Verified badge have successfully
completed a minimum of 1,000 orders with Oberlo. They deliver on time, meet
expectations, and they provide fast support Oberlo vets all of these suppliers to ensure
they have their paperwork in order, maintain excellent warehouse conditions, and consistently
get positive merchant feedback. Then and only then do they become Verified
suppliers with Oberlo. Next on our checklist: Ecommerce marketing Alright, you’ve set up your store and are
ready to take orders. You have a great product and you’re working
with a great supplier. Now what? It’s time to find some customers for your
store with a sensible ecommerce marketing strategy. We can’t emphasise enough how vital it is
to focus your energy and time on marketing. Before you do anything else with your store,
ensure that you can generate traffic and reach potential customers. The key to ecommerce marketing is to find
the right channel for your products. After that, fine tune your strategy so that
the cost of finding a customer is less than what you earn from the sale. This is quite a meaty subject, with lots to
get your teeth into. In fact, we’ve written an eight-chapter
ebook with all you need to know about marketing channels – click the link in the description
to download your copy for free. The marketing to-dos on our ecommerce store
checklist don’t stop there. The next point on our checklist is Customer
Service. Research suggests that 45% of US customers
will abandon an online transaction if their questions or concerns are not addressed quickly. Having customer service is critical to your
online store’s long term success. Luckily, there are several ways to offer great
customer service: First, you can create self-service content
and a detailed FAQ page. This helps your customers answer their own
questions without emailing you, which saves time and energy for both of you. Second, you can offer live chat support if
you have enough time. This might be a good thing to do in the beginning,
when traffic isn’t quite flooding in. And you’ll learn a lot about your market
by addressing customer questions directly. Finally, you can ask your first customers
to give product reviews. These reviews go a
long way towards answering other customers’ questions about how a product fits or functions. Plus, reviews give your store valuable social
proof and create repeat customers, which are five times cheaper to acquire than new ones. Yep, five times ! Our checklist continues with: Conversion Optimization On average, 69% of your website visitors will
leave your site without completing a purchase. How much more profit would you make if that
69% completed a purchase? It’s certainly worth investing some time
to find a way of capturing your abandoned carts at the checkout. We’ve seen several tactics work well for
dropshippers. For example, you can create limited-time offers. Or you can launch a cart abandonment emails
campaign. You can even set up a retargeting ads campaign. Get creative. This is an aspect of entrepreneurship that
requires constant experimentation. If something comes to mind that you think
will make customers more likely to buy your products, try it out. Measure the results. And try again. We’re almost at the end of our checklist
with: Store Optimization Here’s something worth remembering: 44%
of online shoppers will tell their friends about a bad experience online. This is why you should always keep the performance
of your website in mind, and seek to optimize it wherever possible. Improve your website speed. Create an intuitive navigation bar. Focus on creating a great product page. Display related items. Optimize your store search. Lastly, check how your store looks on mobile
and tablet devices . This is when those little store tweaks can add up to a big impact on
your bottom line. Let’s tick off the final two items on the
checklist. Starting with: Inventory Best selling products come and go. After all, remember the fidget spinner? That’s why your
inventory is vital. As an entrepreneur, you should always be curious
about new product ideas that could entice visitors to your store. At the same time, you should always be revisiting
your stock of steady-selling product. If something isn’t selling, replace it with
an item that’s flying off the virtual shelf. Get into the habit of testing products every
day. Research new products using Google trends,
and add promising new products to your existing ones to help drive sales. And the last point on our ecommerce checklist:
Learn by doing It’s all part of the fun of being an entrepreneur. It’s fine to make mistakes. In fact, that’s often how we learn best. And anyway, what are you going to do if you
mess up? Fire yourself? Probably
not. Be curious, be bold, and build your store
sooner rather than later. You can see how the creme de la creme of Shopify
store owners set up their stores in our Best Shopify stores YouTube videos. Simply click the link in the description and
get inspired by the most successful stores on the Shopify platform. What do you think of our ecommerce store checklist
– did we miss anything? Do you agree with how much emphasis we put
on marketing? Are there any apps that you would recommend
to first time store owners? Tell us in the comments! I personally read the comments and will get
back to you. For more tips and guides on ecommerce and
dropshipping, click subscribe and turn on that notification bell. Thanks for watching – until next time: learn
often, market better, and sell more.

49 comments

  1. Great video, maybe warn starters like myself a bit more about the upcomming paperwork. I almost hear nobody talking about sales tax and VATlicense etc… something i am struggling with now

  2. Hi Jessica your videos are awesome! 🙂 I am ready to start an e-commerce store with Shopify. (and of course Oberlo!) There is only one thing holding me back. Getting customers. Should I first start a facebook page to get some targeted traffic. My thing is I don't want to have a store that I pay for every month and no sales for a really long time.

  3. I like your lecture I am ready to launch my e commerce platform pls which platform is good for Nigeria Lagos

  4. Hello. Just a few questions to get clarification.(1) In a dropshipping model, every time an order is made, I need to contact the supplier right. This means I need to have a record of all my suppliers and how to contact them, right? (2) Since people can order from any part of the world, how do I inform my customers as to how long it will take for them to get product in their respective countries?(3) In case of a return, where will be the item returning address. My office or suppliers country and who bears the lost on shipment on the item (4) I read that following my passion is not the best option to generate sales. How do I know what winning products to add to my store. Your views are higher appreciated. Thanks

  5. As salamo alikum. Do you know Sourcing for ecommerce products?

    I want to sale online products, but I don't know which product sells alot in Pakistan and sell again and again.

    please tell me the method how to find niche and profitable products to sell online.

  6. I have a question; Can I sell low tickets items from AliExpress with running ads on Google and still make a profit? I believe the ads is the most expensive part in the dropshipping model – so is it worth to sell low tickets products?

  7. Excellent videos. A bit off topic, Can you share your opinion on best social media to sell engineering consulting services? There is nothing like corrosion , or cathodic protection in instagram. Linkedin could be better but is instagram impossible to sell engineering consulting services? thanks

  8. I start my store 1 week ago and I am sure this is the best decision I ever made. I like it so much and I LOVE this Videos, Jessica, you are great!

  9. selling my food business products online for nearly 11 years and it has been a huge success but like all success, it does take time. Great videos and always up for learning all the time. Liked and subscribed appreciate the info ! Would like to do a one on one talking about the Amazon Gourmet food space there is not that many people talking about the food category on Amazon and private label ? we currently have 40 items in this space on FBA and have had great success.

  10. Thanks for ur Video. Since the last two years i was busy on e-commerces.. now how can i get virtual platform that can match my requirements… could u plz help me on this?

  11. Impressive ! its like the investment on a business is just spend money on a website which is hardly 200 USD and hit it

  12. Thank you for the video. I plan on getting the paid video soon. Your price is way way better than the going $900+ price that's out there!

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