How to Start a Money Making Ecommerce Store
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I’m going to share my story here and give you detailed instructions for making a profitable online fashion store from scratch. If you want to start your own online store, then this article is for YOU! Keep reading if you’re interested in breaking into ecommerce.
This can be suitable for all niches, not just fashion. So, if you’re interested in a home decor store, a fan gear store, etc. this will still work for you! Here we go.
How I Went from Zero to $30K Per Month with My Online Store
It all starts with an idea. What will you sell? What will make you successful? What makes you stand out from the crowd? For me, it was womens fashion apparel. I actually started my online store on a whim. I wanted to start a business and failed at previous attempts in different things (article writing, selling Twitter packages, selling used electronics, etc.).
I created my store on a free online store platform.
Prior to that, I sourced the product, figured out fulfillment and shipping and created a few social media accounts for the store.
So, the store launches. To my surprise I made a sale in week 1! It was for $25 and I was ecstatic!
A few months later I was earning a cool $1,000 to $1,200/month.
Then I branched off, selling in marketplaces and my income really exploded.
Just over a year after I started, I was making enough to quit my day job to devote all my time and energy to the store. And so I did!
Picking Your Store’s Niche
This is critical, guys. Your niche is your store category. What will you sell and why? If you wanna sell baby head wraps because you love them and have a real passion for it, go for it! Keep in mind though, it takes more than passion to run a profitable store.
You want to understand the market. Are you solving a problem? Is there competition? Is your product trending, assured to die out in the future?
Ask yourself these questions and do a good bit of research before you decide on what you wanna sell. Once you do pick your niche, it’s time for sourcing!
Sourcing your product means you will find where you will get your product. Will you dropship from a retailer? Take in inventory from a wholesaler? Sell digital products with no inventory?
It’s very important to do thorough research to figure this out.
For those carrying physical inventory, there are a ton of online forums and resources to find wholesalers online.
Setting Up Shop
I recommend going with the middle plan that comes with analytics and reporting. Super helpful and will come in handy when you are trying to figure out what days sell best, how much you earned in the month, etc.
The marketing is so important. It’s how you’ll be getting customers. You don’t have to spend a ton of money. I did mostly free marketing with my store and got up to $30K months before selling the store.
This is where social media will come in handy. Here’s what to do…
- Grow your fanbase
- Interact with fans and customers
- Post cool stuff
- Announce sales
- Be active
- Be consistent.
Your social media presence will grow and so will your sales.
Paid marketing is also a route you can take. It’s a good option for those who have a marketing budget and if you want to see your sales grow fast from the beginning, you’ll wanna try paid marketing methods.
Facebook marketing is what a lot of new ecommerce businesses go for
Social Media Marketing
Other social media marketing like Stumbleupon paid discovery, Google Adwords, and Pinterest promoted pins are also ways to attract customers.
You can follow the steps above to start a money making ecommerce store. Take it from me, a six figure ecommerce entrepreneur.
My advice to you: start now, don’t delay
It can be a scary experience jumping into the unknown but also a very exciting one too with a potentially HUGE payoff! Questions? Comment down below so I can share my two cents!