It’s all over the media how e-commerce is speedily approaching the $4 trillion mark and stories of how leaders like Amazon, Facebook and Google are making a fortune out of it. Perhaps it’s time to consider thinking about making headlines too by becoming a renowned Internet entrepreneur.
To begin with, you need to acquire a computer or laptop to use as your base of operations and a low- or high-risk merchant account. The process is way fast and trouble free; you can set up a small-sized or medium-sized business in just half a day. Oh! And you need not be a skilled web developer.
So whether you’re out to conduct a brick and mortar business or completely go online, the principles of commerce are still in play: it’s always someone (seller/service provider) meeting the needs of another human (buyer/customer) by either selling them items or providing a service.
Discover ways to start off:
- Test waters before diving in— put up a small cost-free site on platforms like WordPress.com and only invest in a bigger and better website if you realize sales.
- Go for a micro-niche— most niches are dominated by bigwigs, so you have to spot a unique selling point (USP) with high demand if you want to flourish. Do the same thing but with a unique twist that makes you stand out from others. Plus, Google will rank you higher because you aren’t competing against top sites.
- Establish a business to satisfy your own unmet need— there are probably others with the same problem. For example, at 55 years of age, Ann Johnson set up “All You Naturally” a hand-made organic skincare line, just because she could not find a solution to her eczema. You’ll need a high risk merchant account for a niche in that’s risky.
- Open a shop on an established marketplace — Giants platforms like Amazon, eBay, Craigslist, and Etsy are a cheaper and faster way to test the business practicality of your company.
- Look for a mentor— several business communities provide beautiful places to learn, network, and meet up mentors. For example, SCORE which is the state’s biggest network of free of charge business mentors offers micro-business owners webinars along with the resources they need to move forward.
With the appropriate niche and know-how, you can turn whatever you have around and develop it into a practical business.
Electronic Payment expert, Blair Thomas, co-founded eMerchantBroker in 2010. His passions include writing/producing music and travel. eMerchantBroker is America’s No.1Company for high risk merchant account serving both traditional and high-risk merchants.