How to Start Selling Online-Part One
Have you ever thought about selling on eBay, Amazon, or your own Shopify store, but you’re not sure where to begin? This guide will show you how to start selling online and show you how to find trustworthy wholesalers to partner with.
Okay, so you’d like to start selling stuff online, right?
Do you feel like you’re on a rat-race to start your own business by selling products online? Or maybe you’d be happy making some extra cash to build your retirement or to pay down your debt.
Regardless of your reasons for wanting to sell online, eCommerce offers immense opportunities for anyone with an internet connection. I would have to admit that of all the numerous ways to make money online, selling is the easiest to get started with because of it’s simplicity.
I put together this ten-minute online guide by using some of the challenges I faced along my journey. I started with eBay, then added Amazon FBA, and finally began my very own eCommerce store with Shopify. After reading this, you will know how to sell products online.
How to Start Selling Online
So, let’s dive right in with what you can expect here:
I took the time to break down the online selling process into these six steps to keep it short and digestible.
Step 1: What to Know Before You Begin Selling Online
Of course, it’s a good idea to know if selling online is a good fit for you before investing time and money.
So let’s take a look at some of the pros and cons of selling online so that you can analyze it to make an informed decision.
The Pros of Selling Online
Obviously working from home in your pajamas is a significant benefit, but guess what, there are plenty of other fantastic reasons to start selling online and growing an eCommerce business:
The Cons of Selling Online
There are cons to anything in life, and selling online is not an exception. Here are some things for you to consider before you begin your online store. The cons will help you set realistic expectations.
So just to be clear, this is not a get-rich-quick ordeal, and success doesn’t happen overnight. Also, be mindful of internet scammers posing as wholesalers. Next, you should choose an eCommerce business model.
1.2: Choosing an eCommerce Business Model
There are several eCommerce business models to consider before you start selling online, and each of them has there own set of pros and cons.
Think carefully about which model is best for your business. Since they each have unique characteristics, they may require different levels of financial risks and complexity. Therefore, they will determine how you structure your store.
Dropshipping is the jewel of the eCommerce realm. Why? Simply because the barrier-to-entry is so low. As mentioned earlier, the financial investment is small. You won’t pay for the products you sell until someone makes a purchase on your site.
You don’t have to store inventory, you just need to find things to sell online and find a supplier that provides dropshipping services. Then, list your products on your chosen marketplace, and the supplier will ship the product to your customer for you.
Here are the steps to dropshipping:
A customer purchases a product (at the retail price) from your store.
You receive the payment from the customer and place that order with your supplier (at the wholesale price).
Your supplier will package and send the product to your customer for you.
The key to a successful dropshipping store is finding a supplier with reasonable shipping times and shipping costs. Typically, it takes about three weeks to receive products from China. Nevertheless, the dropshipping business model is attractive.
Sourcing is a term used to define how you buy your inventory. You can source from wholesalers or manufacturers.
Sourcing from manufacturers is similar to sourcing from wholesalers. Your business objective sets the tone when dealing with manufacturers. If you want to design your own private label product or create a new product from your ideas, then sourcing from manufacturers is the business model f