Why should I start an eCommerce business when it seems like every Tom, Dick and Harry is going online?
If you’ve asked this question, you’re not alone. A lot of regular Joes with no experience in business as well as long-time entrepreneurs have shied away from the idea.
Scores of others have and still are flocking to the internet to do retail sales. The competition for customers must be fierce, right? Why go through all the trouble of trying to set up a business when the chances of success look so slim?
The fact is, even though there are a lot of eCommerce retailers out there, there’s still a lot to be had. You should start an eCommerce business because there is just so much opportunity out there that you can tap. Tom, Dick and Harry – along with hundreds of other intrepid etailers – all have the right idea, and there’s plenty to go around. It’s not even that hard to get started in eCommerce.
We have 6 very good reasons right here, including the above, for why you should start an eCommerce business of your own.
#1 A Great Opportunity
The eCommerce industry has grown steadily since 2010. Last year, global eCommerce retail sales grew 24.6 percent compared to 2015. Online retail accounted for 8.7 percent of the total retail market worldwide. In North America alone, B2C e-commerce turnover was almost 700 billion US dollars.
The opportunity that exists in eCommerce sales is huge. And eCommerce growth shows no signs of stopping. Statista predicts that the number of online shoppers will increase by an average of 2 percent every year through to 2021. There is plenty of room for someone like you to find an awesome niche to get into. And that’s just for starters. As you build your eCommerce startup, there is a lot of room to branch out and grow.
#2 It’s My Life
If, like Bon Jovi, you just wanna live while you’re alive, you need to start an eCommerce business. Owning an eCommerce business means that you get to be your own boss. A business owner has the freedom to create that work-life balance that brings peace and enjoyment. Most people these days don’t find fulfillment in the traditional 9-5 jobs. If you are like them and want to live on your own terms, then it’s time to start an eCommerce business.
#3 Leave the World Behind
Economic freedom goes hand in hand with the ability to work from anywhere you want to. When you start an eCommerce business, all you need to get going is a laptop and an internet connection. You can run your online store from anywhere in the world. You can take and fulfill orders in your sweats from your couch, in your shorts from white sands – anything you want. Take your family with you. No more sad goodbyes and time apart. You can provide without making all those sacrifices that cost you too dearly.
#4 We’ve Got Your Back
It can be tough when you’re just starting out, whatever it is you’re doing. The great thing about online retail is that it’s backed by a supportive industry. Many successful eCommerce entrepreneurs have been very generous, sharing best practices with others based on their experiences. Sure, there will always be trade secrets. The generation of entrepreneurs that we have the privilege of getting to know today, however, are much more open than anyone could have expected 10, 20, 50 years ago. You can start an eCommerce business with confidence knowing that there are so many others who were once where you are now and are willing to give you more than a few pieces of advice.
#5 Business as a Business
You might start an eCommerce business today and find that in 5 years you have one or two more. If you learn that you are really good at it, you could even make a business out of building eCommerce businesses. You can build to sell, setting up startups and running them for a couple years and selling them once they are operational. With the trends going like they are, it’s likely that established eCommerce businesses will be in high demand. Not everyone is great at the planning and launch phases. You could make a business out of providing them with a done deal that they can easily take over without all the startup hassles.
#6 Capital? What’s That?
Possibly the best reason to start an eCommerce business is because you can. Brick and mortar stores require a lot of capital investment, not to mention manpower and other resources. When you start an eCommerce business, you could have just a few hundred bucks in your pocket and still be able to get somewhere.
eCommerce businesses don’t require lots of money to pay for store rent, workers, warehousing, branding, marketing, and all that. All you really need to get set up after you get the paperwork and banking sorted out is a website or an account with a marketplace platform like Amazon or eBay, a few suppliers to work with, and a social media presence.
eCommerce is the key to business success nowadays. You don’t have to actually create a product to be able to sell. There are lots of places where you can source great products to showcase on your store. Make the right connections and build strong relationships and you will soon be on your way to the exciting world of eCommerce.
These are just 6 of the many good reasons why you should start an eCommerce business. eCommerce definitely holds a lot of promise for the aspiring entrepreneurs of today. Who doesn’t want to gain control over their lives to be able to live to the fullest of their potential? You long for the day when you can just pack up or plop down wherever you feel most comfortable. eCommerce can help you get there, and beyond.