Starting an ecommerce business can be an exciting venture—but it can also be intimidating. You may have heard conflicting stories and advice from well-meaning friends or family, or seen horror stories online. To help you better understand the wide world of ecommerce, let’s break down three common misconceptions about selling online.
Misconception #1: Ecommerce is Easy Money
The biggest misconception out there is that all you need to do to make money in ecommerce is open up a store and wait for the money to roll in. Unfortunately, that couldn’t be further from the truth. Starting an ecommerce business requires a lot of hard work, dedication, and time before you start seeing any kind of return on your investment. It takes a lot more than just setting up a shop page; you need to think about marketing, customer service, product sourcing, and more. The key here is to treat your ecommerce business like any other business—because it is!
Misconception #2: You Need Lots of Money to Start An Ecommerce Business
It’s true that launching an ecommerce business does require some initial capital—but it doesn’t have to break the bank. If you are willing to put in some sweat equity and research into your online shop, you don’t need as much money as you think. There are plenty of low-cost methods such as using existing platforms like Shopify or WooCommerce, or creating digital products if you don’t plan on selling physical items. Additionally, there are plenty of free resources available online that can help get you started with minimal financial investment. Just remember to avoid getting scammed by investing too much money into one project too soon!
Misconception #3: There Is Too Much Competition Out There
Yes, it can seem intimidating when looking at established businesses in the same space; but competition isn’t necessarily a bad thing. Competition helps motivate businesses to continuously improve their offering and stay ahead of trends in order to remain competitive. Plus, if people are searching for what you offer then chances are there is still room for growth—it just requires creative thinking on how to set yourself apart from your competition and focus on what makes your offering unique. With enough research and dedication to making your product stand out from the crowd, competition can actually be an advantage!
Wanting to start an online store doesn’t mean you should believe every piece of advice thrown at you or horror story posted online—the reality lies somewhere between fantasy and nightmare! As long as you keep these three misconceptions in mind when starting your own ecommerce journey (and stay up-to-date with current trends!), then success shouldn’t be far off! Running an ecommerce business isn’t easy—but with enough dedication and hard work anything is possible! Good luck!