How to Start An eCommerce/Offline Business Without Spending Any Money

The notion we had as entrepreneur that we need to rent a shop and stock products before making money has been successfully demystified by the Like of Shoprite, Addide among others. For the online, Amazon, Shopify, Alibaba/Alixpress, Olx, Jumia, Konga,  among others have also discredited the same notion.

In case you don’t know, most of the aforementioned shops, online and offline do not have personal products they sell, they only provide platforms where various retailers/wholesalers can sell. Their profits comes from the commission from all sales on their platforms. In Nigeria for example, the most popular retail shop, Shoprite is worth millions of dollars just for providing space. In the same vein, Alibaba  and Amazon are  worth billions of  dollars just for creating online platform for retailers.

Amazon is a multi-billion dollars platform, the founder Jeff Bezos who recently displaced Warren Buffet as the second richest man on earth is worth $78.4 billion dollars.

While Alibaba founder, Jack Ma is worth an estimated $29 billion dollars which includes his 7.8% stake in Alibaba and a nearby 50% stake in payment processing service Alipay. All these stories and more goes to show that you don’t necessary need a physical product to become rich. With the advent of  internet and its global penetration, you can also create a platform that will put you in the league of the people mentioned in this article.

Honestly, it does not cost you much to manage an online medium where people can post their products for sale. All you do is take a percentage of whatever is sold. With the current level of online awareness in Africa, this sector is very lucrative and can make you millions because many people in Africa now prefer to shop online and each product sold, you get your commission. Africans have now built trust in online retailers unlike in the past.

Here is how to setup an online e-commerce platform;

1. Register domain name: Choose name that is short, catchy, and easy to remember

2 Choose a web hosting service-There are many web hosting companies, your web designer can help you choose the one that is reliable. They have various plans also. You can chose monthly, annually or yearly depending on what you want.

3 Design your website- This will be done by a web designer. The website must be easily navigated and must not be complicated. Make sure the website is beautifully created. Research has shown that people spend more time in surfing  beautiful websites than the not so beautiful regardless of content.

4 Choose e-commerce software- Your professional web designer will help with this choice based on many variables.

5 Set up a merchant account: A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards

6 Use search engines to drive traffic to your site: Pay-per-click advertising is the easiest way to get traffic to a brand-new site.

7 Establish an expert reputation for yourself: People use the internet to find information. Provide that information for free to other sites, and you’ll see more traffic and better search engine rankings

8 Follow up with your customers and subscribers with email: Email marketing is very effective. You can do this with great offers without sounding annoying to your target.

9 Increase your income through back-end sales and upselling: A large percent of people who have purchased from you once will buy from you again if you follow up with them.You can do a follow up through text messages, email and phone calls .

Finally, big dreams always start small. Who knows, you might be the next amazon, alibaba,shopify and others only if you take a step. Don’t forget to drop your comment or send us a mail or call through the contact us page on the site.

The notion we had as entrepreneur that we need to rent a shop and stock products before making money has been successfully demystified by the Like of Shoprite, Addide among others. For the online, Amazon, Shopify, Alibaba/Alixpress, Olx, Jumia, Konga,  among others have also discredited the same notion.

In case you don’t know, most of the aforementioned shops, online and offline do not have personal products they sell, they only provide platforms where various retailers/wholesalers can sell. Their profits comes from the commission from all sales on their platforms. In Nigeria for example, the most popular retail shop, Shoprite is worth millions of dollars just for providing space. In the same vein, Alibaba  and Amazon are  worth billions of  dollars just for creating online platform for retailers.

Amazon is a multi-billion dollars platform, the founder Jeff Bezos who recently displaced Warren Buffet as the second richest man on earth is worth $78.4 billion dollars.

Read:Billionaires: Meet The Richest People In 2017 According Forbes Ranking

While Alibaba founder, Jack Ma is worth an estimated $29 billion dollars which includes his 7.8% stake in Alibaba and a nearby 50% stake in payment processing service Alipay. All these stories and more goes to show that you don’t necessary need a physical product to become rich. With the advent of  internet and its global penetration, you can also create a platform that will put you in the league of the people mentioned in this article.

Honestly, it does not cost you much to manage an online medium where people can post their products for sale. All you do is take a percentage of whatever is sold. With the current level of online awareness in Africa, this sector is very lucrative and can make you millions because many people in Africa now prefer to shop online and each product sold, you get your commission. Africans have now built trust in online retailers unlike in the past.

Here is how to setup an online e-commerce platform;

1 .Register domain name: Choose name that is short, catchy, and easy to remember

2. Choose a web hosting service-There are many web hosting companies, your web designer can help you choose the one that is reliable. They have various plans also. You can chose monthly, annually or yearly depending on what you want.

3 .Design your website– This will be done by a web designer. The website must be easily navigated and must not be complicated. Make sure the website is beautifully created. Research has shown that people spend more time in surfing  beautiful websites than the not so beautiful regardless of content.

4. Choose e-commerce software– Your professional web designer will help with this choice based on many variables.

5. Set up a merchant account: A merchant account is a type of bank account that allows businesses to accept payments in multiple ways, typically debit or credit cards

6. Use search engines to drive traffic to your site: Pay-per-click advertising is the easiest way to get traffic to a brand-new site.

7. Establish an expert reputation for yourself: People use the internet to find information. Provide that information for free to other sites, and you’ll see more traffic and better search engine rankings

8. Follow up with your customers and subscribers with email: Email marketing is very effective. You can do this with great offers without sounding annoying to your target.

9. Increase your income through back-end sales and upselling: A large percent of people who have purchased from you once will buy from you again if you follow up with them.You can do a follow up through text messages, email and phone calls .

Also read:5 Tips To Setup a Profitable Educational Learning Center

Finally, big dreams always start small. Who knows, you might be the next amazon, alibaba,shopify and others only if you take a step. Don’t forget to drop your comment or send us a mail or call through the contact us page on the site.

 

 

 

 

 

 

 

 

 

 

 

 

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