Setting Up An Online Store? The Biggest Reason Businesses Fail On The Internet
So, you’re going to be setting up your very own online store. You’ll be using the drop shipping business model and enjoying the fruits of making money while not carrying any inventory.
That’s great, but guess what? You need a plan.
You need a plan for your entire business. How will it be set-up? How will you promote your online store?
How will the marketing work? This is the most important part that most aspiring online entrepreneurs just simply neglect and fail to understand the importance it holds. They think sales and money will come on their own. Big mistake.
The biggest reason businesses fail on the Internet is due to poor planning… having no idea about how it is going to be promoted.
Listen, just because you’re selling all the hot new items because you have access to them (if you’re lucky enough to have find a legitimate drop shipping source), that does not mean that customers will flock to your website and start buying.
You’re offering the cheapest prices? Trust me, it does not matter. If you don’t plan and market your business correctly, you are going to fail. In fact, cut-throat pricing cannot be your only strategy. If you adapt that mindset, you won’t be making much profit, if any.
The marketing piece is so important that before you do anything else, you need to figure this out. Before you go setting up shop, putting your favorite & the hottest products on there, you need to have a solid answer to this one question:
How will you market this?
Think about it… if you’re selling iPads or PS3’s because they’re the most popular items out right now, how will you compete with the big boys? Apple, Amazon, Target, Best Buy, Walmart… just to name a few.
You need to have a solid plan in place, or it will not be pretty. Sure, you may get lucky, but how long will that luck last for without a plan?
Don’t get me wrong, I am not saying that it’s not possible to compete with your own online store on the Internet. In fact, just the nature of the Internet makes it very realistic to position yourself so you are able to compete with the big boys. As I said earlier, all you need is a solid plan. As long as you come up with a business plan which makes sense, you will be ahead of the majority of entrepreneurs who only dream but never execute their plan.
My all time favorite source for thousands of legitimate drop shipping companies and suppliers…
They’ve been around forever, and I’ve done business with them and through them for SEVERAL years. We’re talking over 8000 dropshippers and wholesalers. We’re talking over 7 million products from any category you can imagine, for guaranteed wholesale prices. They are the most comprehensive drop ship resource online that you can imagine, and also certified by eBay to engage in the business. Does that mean something to you? It means something to me.
This is not a kid’s game, be prepared to be overwhelmed by choices after you join. Find a niche & category that you want to specialize in: clothing, computers, televisions, handbags, brand name products — whatever, and deal with suppliers based on what you’re looking to sell and make money with.
You can take the free trial, but be prepared to pay a hefty $300 one-time fee to gain permanent lifetime access to this amazing resource.
If you’re looking to set up your online store right away on the best platform that’s currently available, then you need to check out Shopify.