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Top tips for setting up your own eCommerce business

If you’ve always worked for a company, branching out on your own can be a little scary.  However, if you’ve done your research and surrounded yourself with like minded people who are happy to share their experiences, your new adventure could be one of the best moves you ever make.

Here’s a few top tips to help you as you prepare to take the plunge.

Research your competition

Knowing your competition and what they are doing is vital for your business. You can easily find out what they are doing by visiting their websites and seeing how their websites are performing. You can also see how good their marketing strategy is by googling the phrases you would expect people to be browsing to find your products.shutterstock_240027613

Know your market

As well as knowing what your competition is up to, you should also be aware of what products they are selling and how much they are selling them for. Make sure you have a USP – unique selling point – and know how you are going to promote this. Ask yourself why should people buy from you and not your competitor? There’s plenty of additional services that will add value to your offering to make people buy from you instead.

Your online shop

Your website is your shop front. Making sure you decide on the right technologies as well as creating great designs for your website from the start, will save you time and money in the long run. You don’t have to spend a lot of money at the beginning, there are plenty of eCommerce platforms that have great reviews and can be tweaked to suit your business requirements. Make sure you choose a platform that is well supported i.e. one that already has a lot of users, as this should ensure the developers will offer upgrades and fix bugs. If you’re unsure where to start read this review on the techradar website – https://www.techradar.com/uk/news/the-best-ecommerce-platform

Specialist help

Running an eCommerce business is different to running a normal business.  You will need to make sure you are GDPR compliant and that your website is secure. You will not be able to take card payments yourself due to the introduction of the PCI DSS (Payment Card Industry Data Security Standard – https://www.pcisecuritystandards.org/) as card details have to be encrypted and stored securely. Instead you can use in the first instance PayPal, which has expanded its services to meet the services of all sizes of business. Make sure you seek the advice of a professional eCommerce bookkeeping company who will be able to help you with all financial matters to ensure you are legally compliant.

Networking

Knowing you’re not alone will help you through the days when business is slow and you’re doubting the decisions you made. Sign up to some local networking groups who will be able to offer much needed support and advice as your business gets underway. From sharing top tips and information to promoting your products and gaining potential clients, networking is a great way to meet like minded people who can help you and your business flourish and grow.