Market projections say that ecommerce sales in 2021 should reach almost $400 billion dollars in just the United States.
If your company has somehow not yet stepped into the online market space, you are really missing out!
Especially in a year like 2020, when so much business has been driven online due to the COVID-19 pandemic diversifying the platforms that your business operates on is really important.
Over 800,000 new online businesses were created in the US in 2020, so there is definitely a lot of competition out there! The great thing about ecommerce is that the world is your marketplace. Your products and services can be seen literally, all over the world, by anyone who has an internet connection!
Outside of statistics, no investment needed
Outside of statistics, one fact you may not know about ecommerce is that it allows you to start a business with basically no investment. In some cases, such as services, creating your own product and drop shipping, you will literally have to make no investment when you start. You will only need to accomplish a very few sales to put the money earned into advertising that will grow your business. A few cycles of this and some hard work and diligence and you will be able to actually turn a profit!
If you think drop shipping might be right for you check out Shopify.com and other similar sites. Do some research and please realize, drop shipping is not a get rich quick scheme. Like most things in life, you will get out what you put in. It is going to take a lot of time and hard work on your part to grow your business and have something substantial. Just going through the steps to set up a business will never be enough to make you successful in any niche.
If you do decide to start your own business, make sure that you are taking advantage of all the resources that you can to keep overhead down. Certainly stay on guard to nt waste money on needless services. For every new business created, there is a service out there waiting to take advantage with promises of immediate sales with no work. Those are always a scam.
Use free services that put the ball in your court
Use free services that put the ball in your court by letting you do the work to get the outcome you want. There are great services out there to help you with everything from managing your social media to analyzing your website traffic to consulting with your business team remotely. For example, almost two thirds of small businesses will pay as much as $500USD for a logo, when they could easily make one for free with Logo Creator.
If you are going to start a business online, you should be aware of the pitfalls. As many as 90 percent of online businesses fail. This is largely due to unrealistic expectations and a lack of dedication. If you want to be a business owner and you are determined enough, this is a great time to make it work.
Many of the skills that you need to be successful building a brick and mortar business are the same skills you need to be successful building an online business. You need to be driven and passionate about what you are doing. It helps to have good people and networking skills. The thing that sets the online business world apart is the low barrier of entry. You really can own a business without an upfront capital investment. This opportunity is available to anyone who wants to work hard enough and take it.