An Ecommerce Business Guide for Young Entrepreneurs

With e-commerce sales in the US expected to cross the $1 trillion mark for the first time in 2022, the industry serves as the perfect calling for young adults looking to start their first business. Today, IOMMI Designs shares a comprehensive guide for starting, managing, and marketing your ecommerce business.

Setting Up Your Business

First and foremost, you’ll need to create a business plan outlining your short and long-term business goals and a roadmap for achieving them, as reported by BigCommerce. Additionally, it’ll include your requirements for funding and how it’ll be used for various business activities.

Next, choose a name that is unique and captures the essence of your brand and product. To check if the desired name is available, use this tool. Based on the name, design a logo and get both registered. Then, check out this guide on how to start a company and make sure all your bases are covered.

Choosing What to Sell

Here are three factors to consider when deciding on your product:

• Your Niche: This includes finding a product catering to the needs of a targeted group of customers. According to ecommerceCEO, a niche allows you to hone in your marketing and sales efforts and earn higher revenue. Examples include selling vinyl and sublimation supplies, beard oil, pet CBD products, etc.
• Customer Demands: Look for customer pain points that have been overlooked by competitors in your niche and design your product as a solution to the problem.
• Profit-Margin: Look for items that have low manufacturing costs but customers are willing to pay a premium for.

Marketing Your Business

The success of all e-commerce businesses lies in how well it’s marketed. Here are the best ways to promote your products and meet revenue expectations: 

• Create a mobile-friendly website, allowing customers to buy your products anytime, anywhere.
• Develop a strong brand presence on major social media networks through regular posting and creating topical content.
• Enlist influencers as brand ambassadors and incentivize them to promote your products to their followers.
• If budget permits, run paid advertisements on social media and Google. This allows you to garner thousands of eyeballs daily and create brand awareness.

Ecommerce businesses have low start-up costs, are easy to manage, and serve as the best option for young entrepreneurs looking to start their first business.

IOMMI Designs is a Web & Graphic Design company based out of Dallas, Texas, working with clients large and small, local and across the country for the last 10 years. If you have any questions, let us know!