Guides to Kickstarting e-Commerce Business

In this digitalization era, onlines business model is here to stay. E-commerce brings more opportunities for entrepreneurs, hence businesses thrive by selling their products or services  online. In Malaysia, many businesses that have physical stores will also have e-commerce stores in order to stay afloat.

Research e-commerce Models and Decide what Products to Sell

There are various kinds of e-commerce models that you can choose from. There are 4 types of basic models such a business-to-customer (B2C), business-to-business (B2B), customer-to-customer (C2C) and customer-to-business (C2B).

The commonly used business model is of course business-to-customer (B2C). You can literally sell almost anything and establish it in various platforms like Shopee, Lazada, WhyQ eBiz and many more.

Come out with a business plan

Starting a business can be overwhelming, but you need to come out with a business plan. A business plan details out your objectives and roadmap for finance, operations and marketing. Not only is a business plan important for you to kickstart your business, a business plan can open doors to potential investors, requesting business loans or acquiring business grants from the government.

Do some research to figure out the current competitors and market landscape for your product or service. Figure out your target market and how you’re going to promote to them. Plan the logistics, including when, where, and how you will proceed in the coming months.

Find the perfect business name and start building your brand

Naming your business is one of the fun things when kick starting a business. It may be a fun thing, but also very essential. You need to come out with a suitable business name that will ‘survive’ the future and not only be remembered now (when a certain type of name is commonly used).

Also, remember that the name you choose for your business will appear in your e-commerce site, social media handle and a lot more. Be sure to choose a name that’s not too similar to your competitors, be memorable but not too unique (hard to remember and even pronounce), web friendly and relevant to your business nature. Once you have found the perfect name, start building the brand itself!

Don’t forget to register your business

Registering a business makes it easy for potential customers to identify you as a legit business entity. It enhances your identity and adds credibility to your operation. To qualify for a business loan, you must have an official business registration. In Malaysia, you can register your online or offline business at Suruhanjaya Syarikat Malaysia (SSM).

Below are the documents required to register your business, and voila your business is registered!

• Business name
• Commencement date of business
• Principal place of business
• Address of the branch of business (if any)
• Owner and partners information
• Type of business, and
• Copy of the Partnership Agreement (if any).

Your business registration requirements may vary depending on your country, industry, and business type.

Create your e-commerce Website

Creating your own e-commerce website can be very tricky and costly. Firstly, don’t worry, there’s always a free option available in the market. You can start by downloading the free business app, WhyQ eBiz. This app is 100% free, easy and reliable. You can create your e-store in 60 seconds, no coding required. Having your own web domain is easier than you think. Personalize your e-store with your own banner, share it across social media and Whatsapp, be ready to receive orders within the app.

If you wish to have a more full on shopping experience for your potential customers, hire a website designer in order for your e-commerce website. They will fulfill your concept, design and needs in terms of creating your desired e-store for your products.

Start to Source and Develop your Products

Once you’ve set up a mock up of your website, you can begin to add your product names, descriptions, and photos. You’ll also need to obtain your products, whether that means you go into production to develop them or source them from a wholesaler or supplier.

You must be extra careful with this step. You need to list out as many wholesalers or suppliers as possible, compare their prices and quality, capacity, their payment terms and many more.

It’s Time to Launch your Business

Once you’ve set up an online store, it’s time to take care of running your business. You can create a good online experience in a number of ways. Having accurate product descriptions, a fast checkout experience, timely delivery, and an easy returns process is a great start. A good amount of reviews from other shoppers will go a long way, especially for new businesses. Now, it’s time to come out with consistent and up to date marketing, according to your business nature.

Good luck in kick starting your own e-commerce business. Let’s be persistent and motivated to endure the journey to be a successful entrepreneur!

Need more ideas & insights to grow your business, read WhyQ blog now.