It is certainly not easy to set up an ecommerce business. You must know what to do and what not to do before you launch one for yourself. Through this blog, you will get some important tips as to what to consider and what not to before setting up an online business.
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3 Dos & Don’ts of Setting Up an
“I want to have my online business” – is a great thought to
have. It is a sign that you have an entrepreneurial psyche.
But talk to someone who already has an established online
business and they will give you a whole list of things that
they wish would not have done. I am not trying to
discourage you here. I am an entrepreneur myself and run a
Magento Development Company. But I believe that setting
up an online business is not a piece of cake. There are a lot
of aspects you need to consider. After all, the decisions that
you make initially will have a huge impact on your business
at later stages.
So, before you think, “Big deal! I just need to pay $12 for a
domain name, choose a free website template, and get
going”; consider these dos and don’ts.
Let us start with the Dos first.
1.Have a business plan
Remember the adage “Look before you leap”? Well, it kind of
applies here. Before setting up an online business, you need
to understand that a business plan is the blueprint for your
business. When you write down your business plan on a
piece of paper, you would know whether it is feasible to start
or not. Also, you would be able to focus on the financial and
operational objectives of your business, like market planning
and budgeting. If you want to have a glitchfree start up
period with lesser problems, it is the best thing to do.
2. Know Your Audience
The statement “My product and services are for everyone” is
a passé. It is better to get over it and understand that every
business is not for every customer. And that is fine. First, you
need to define your target audience and conduct a survey to
find out how you can meet the needs of your customers.
Once you get the results, you would know how to serve your
customers better. Do not be surprised if you witness your
business performing better than your competitors! Knowing
your audience can work wonders for you!
3. Accept Criticism
Probably, there are more pessimists than optimists out there.
But when you are starting new, it is good to give an ear to
your wellwishers. Let us say someone advises you to hire a
dedicated Magento developer and get your website
developed in Magento. You should way the pros and cons of
it. Small online business owners often choose WordPress or
Shopify to start with. But with Magento, you get to have all
the solutions that an eshop would need. So, listen to the
feedbacks as it will help you understand your customers,
offer a better product, and provide better customer services.
Now, let us talk about the don’ts:
1. Do Not Procrastinate the Launch
I am sure you might have set targets before launching your
product. For example, “I want at least 10,000 visitors to visit
my website before I launch a product.” Or you might say, “I
can’t promote my services and work on product launch at the
same time.” Now this is a tricky place to be. And the sooner
you get out of this trap, the better. When you are planning to
establish a business that sells, you must take risks and come
out of your comfort zone. Practice how to create a product,
generate a buzz, set targets, and launch it on time. Approach
an ecommerce web development company to help you if you
want. Only then, you will start generating revenues.
2. Do Not Have Unrealistic Expectations
There is no such thing as an overnight success. And you can
certainly not achieve it if you are planning to run your online
business along with the job you have. You need to give
complete and undivided attention to building your business.
Interact with other entrepreneurs, know what did it take for
them to achieve the success they aimed for.
Once you get their feedbacks, ask yourself questions like,
“Am I prepared to do what it takes?” “Can I wait for the
number of years it takes for me to achieve success?” If you
think you had misconceptions about certain aspects, rework
on your original plans.
3. Do Not Ape Your Competitors
During the initial years after my business launch if someone
asked me a question like, “Why should we choose you for
Magento Ecommerce Website Development?” I used to give
generic answers like “’Coz we’re better than our
competitors.” But later, I realized that such generic reasons
do not work anymore. It is very important to stand out from
your competitors and offer them with something unique
each time. Think about what is the USP of your business and
put it forth for your customers to know. Work towards
creating an advantage for your customers and make them
feel that they took a good decision by planning to business
with you. Only then you will be able to establish a
competitive edge over others.
There is no denying that the espace has provided the
entrepreneurs of today with ample amount of opportunities
to establish their business. But one needs to ensure that one
indulges into best practices before launching a business. So,
conduct R&D about your industry, try to know about your
competitors, come up with a fantastic business plan and
above all, know what not to do when setting up an online
The abovementioned dos and don’ts are stemming out of my
experiences. It does not mean what works for you will work
for me. I am sure there might be several other aspects that I
might not have mentioned here.
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