Business Name
Think of a name for the business. That could be something you do on your own, or you could pay someone to do it for you. The benefit to paying someone to do it is some freelancers check for other uses of the names they think of online and make sure they're unique. There's also a lot of other criteria they consider and check while thinking of names like name/trademark search.
If you'd like to pay someone to do it here's the person I used for a few of my side projects:
https://www.fiverr.com/s/5o6eb1
https://www.fiverr.com/s/5o6eb1
And if you'd rather browse other freelancers that offer the same thing here's a list of them:
https://www.fiverr.com/categories/writing-translation/business-names-and-slogans
https://www.fiverr.com/categories/writing-translation/business-names-and-slogans
Logo
It's important to not only have a professional sounding name, but also professional looking logo. Because if it doesn't look or sound legit people will take your brand less seriously. And however you decide to create your logo it's important to trademark it as well. I'd recommend paying a freelancer from the same Fiverr site. But be warned though, you get what you pay for with most freelancers. If the price is really low you're bound to get a lower quality result. If you go to the artists page on Fiverr you can see what other work they've done, and that can give you a sense of what style and quality level they produce.
This is the freelancer I've used for projects in the past:
https://www.fiverr.com/s/w4arVA
https://www.fiverr.com/s/w4arVA
If you'd rather browse other artists and see what they offer here's more:
https://www.fiverr.com/categories/graphics-design/creative-logo-design
https://www.fiverr.com/categories/graphics-design/creative-logo-design
Ecommerce Platforms
There are many different ecommerce platforms you can sell your products on. Etsy, Shopify, Bigcommerce, Woocomerce, eBay, etc. Some of them cost money to use monthly, and some are free. But the paid ones offer many more benefits.
Once you create an account on either of the platforms you can select from premade templates for your site. I would strongly recommend paying for premium templates if the platforms offers them. Those usually come with developer support and additional features that the free ones don't.
Types Of Companies (LLC vs. S-Corp)
Look at this website for a summary on the difference between each type of company.
Talk to your accountant. You will need one to help you with how to identify profit or loss of the LLC or S-corp on your personal tax return. They might want you to go with LLC versus S-Corp, or vice versa, depending upon what they say.
You will need a business license for operating your LLC or S-corp. For your local city or county.
Check the Secretary of State’s website to determine if your name for your LLC or S-corp is available. Identify yourself at all times as acting as a representative for your LLC (Your Name, LLC) or S-corp (Your Name, Inc.).
Check the Secretary of State’s website to determine if your name for your LLC or S-corp is available. Identify yourself at all times as acting as a representative for your LLC (Your Name, LLC) or S-corp (Your Name, Inc.).
Find a reliable Insurance agent to discuss liability insurance for your actions as an officer of your LLC or S-corp and for product liability.
Unique Selling Point/Proposition/Differentiation
It's important to have one or multiple Unique Selling Points/Propositions/Differentiations (USP for short). A great guide on this and how to make sure you're brand is executing it well can be found here.
https://growthonics.com/insights/what-is-a-usp/
https://growthonics.com/insights/what-is-a-usp/
Shipping and Fulfillment For Orders
Another key element to running an ecommerce business is the shipping and fulfillment side of things. You want to make sure both of these processes are as smooth as possible. Here's a guide on both of those.
Additional Advice (And some of the most important)
1. Have/create initial relationships with a Banker, Attorney, and an Accountant.
2. Decide what you want to take on yourself vs. outsource.
3. Get a successful mentor! And avoid wanna be’s that don’t actually have the experience/wisdom you need.
4. Look at products you can outsource/dropship. This keeps costs lower, but also eats into margins. Evaluate margin cost & markup. Research MAP (Manufacturer Actual Pricing) pricing that may limit discounting.
5. Create content around your product - videos, blogs, etc.
6. Brand YOU & not just your product, People want to do business with people that love what they love. Make sure your marketing addresses how the product solves a problem/positively impacts someone's life. Benefits SELL / Features TELL.
7. Get great product photos! This can make the difference between potential customers seeing you as legitimate or not.
8. Evaluate blockers to purchase and solve them:
•Price, Misconceptions, Ignorance, Glutted Competition, etc.
9. Brand is not what YOU say it is, it's what THEY say it is. Brand is everything about you that differentiates yourself in the minds & hearts of prospects & customers.
10. Marketing - Once you have your store up, market it!
•Submit for Google Listings / Google Shopping / Google "My Business" Listing.
•Create custom descriptions & study basic SEO (Search Engine Optimization).
•Meta Descriptions, etc. Backlinks.
•Social Content / Video, which is great for SEO.
•Focus on product / company reviews.
Closing Remarks
If you take all of this advice into account you're almost guaranteed to succeed in a big way. Just remember though that your success as an ecommerce brand won't happen overnight. It takes time and constant effort to grow your business. Just DON'T GIVE UP!
I hope this guide helps, and that it can be the spark you need to start your very own ecommerce business! If you have any questions that weren't already answered feel free to contact me using the form below or email me at Tyler@TylerRoodDesign.com.
Thank you!