How to Start an Online Store in 2020 (A Step-by-Step Guide)

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How to Start an Online Store in 2020 (A Step-by-Step Guide)

Starting an online store has never been easier. Thanks to the Internet, it’s a relatively simple process to go about launching a new company or side gig if you have an entrepreneur’s heart and mind. From sourcing products to advertising, there’s almost nothing you can’t do on the Internet as you start your new business. Here’s a step by step guide for when you’re looking to capitalize on the way that the Internet makes it easy to launch a new side gig.

Create Your Brand

The first thing to do when creating any business is to determine its niche. You want to know what market you’re competing with and how you can differentiate yourself from the rest of the companies that cater to that market. Coming up with a good name, strong website, and branding elements like fonts, colors, and a logo go a long way in making your business look professional. If you don’t have graphic design experience, websites like Fiverr let you find inexpensive contractors to help you get the job done. Remember to leverage your unique traits as you build your brand.

Find Your Products

Once you know what your brand and target demographic is it’s vital to find products that will appeal to your market. When it comes to finding those products at wholesale prices or better, it never hurts to look at online liquidation companies. These sorts of websites let you bid on bulk pallets of returned merchandise like clothing and electronics. Many times they source their stock from businesses like Amazon, Wal-Mart, and Target, so it’s easy to find what you need and gets a good deal on it, too.

Launch Your Ads

Once you’ve gotten your wares, it’s time to go to market. Marketing on Facebook and through display ads has never been easier and both options offer a great ROI. Even investing $500 in targeted marketing campaigns can make a big difference in capturing leads and ultimately converting them to sales. Once you’ve begun to make some sales, it may be worth investigating how a look-alike audience can appeal to even more customers. A look-alike audience uses demographic and behavioral information from your existing customers and targets other Internet users that match those traits. This can help you boost your base and create a foundation of customers who help sustain your company.

Ship With Confidence

While you can’t have the Internet pack up your wares for you, the Internet does make it easier than ever to skip the line at the post office without having to worry about weighing your goods. Pitney Bowes and Stamps.com both make it easy and affordable to print shipping labels, meaning that all you have to do is leave them outside your door for pickup by the mail carrier. If you’re sourcing items using dropshipping, you have to worry even less about printing out labels since the packing process is handled by a third party.

Handle Your Accounting

Of course, running a business isn’t just about making advertisements and sales. Each year, you need to make sure that you’re filing the appropriate taxes for your business to avoid an audit from the IRS. Thanks to websites like Fully Accountable eCommerce accounting, the accounting process has never been easier for an eCommerce business. This company lets you outsource your accounting needs to them so you don’t have to lose sleep worrying about whether or not you’ve managed the financial side of your business correctly.

As you can see, the Internet makes it easier than ever to handle your business operations. From creating a brand that sticks out to managing your expenses and accounts, you can outsource almost every aspect of your business using the Internet. This lets you focus on growing your company and reaping in the profits.

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