First off, let’s talk about what e-commerce is. It is the purchasing and selling of services and/or goods through electronic channels like the Internet. There are four categories of e-commerce: B2B (Business to Business), C2B (Consumer to Business), B2C (Business to Consumer), and C2C (Consumer to Consumer). E-commerce has evolved over the years like any other consumer-based purchasing market or digital technology. It is increasing rapidly as users are taking advantage of:
- Lesser prices offered by different operating vendors with lesser margins than stores.
- The convenience of getting products delivered to your doorstep rather than the added cost of transportation, time, and the effort of parking to go to a store.
- Receiving products at much cheaper rate from overseas vendors.
- Great inventories and variety offered by online stores.
- Various comparison engines that recommend and compare products for consumers.
Here are some reasons you should consider starting your own e-commerce business in 2016.
1. Passion For Business
Having your own business allows you more opportunities to do what you want in comparison to working for someone else. The best e-commerce entrepreneurs are passionate about their ideas. As an entrepreneur, you have the liberty to work when you want while wearing what you want — unless you are surrounded by other people. For example, if you love painting, opening an online store that sells an extremely large variety of different-colored paints can provide you with a much better opportunity to work in the industry you love. Passion always leads to a better future than doing any halfhearted thing. iScript Mulitcart is an e-commerce software that helps you create your very own e-commerce marketplace along with multiple vendor support and easy management of all the products you sell.
2. Make Extra Money
Starting a new business does not mean guaranteed success. Running a business can be a source of income that can be proportionate to investment. Some people start businesses after seeing that their own ideas are resulting in profits for others. When you start a business, you will reap rewards with patience and hard work. Using an e-commerce software to create your own business online can mean little-to-no initial monetary investment on your part.
As we all know, the self-employed always have more control over their vocational destiny and more independence than people that work for others. One might argue that employees can switch out of work mode at the end of the day while entrepreneurs are always in work mode. Conversely, a person with a small business will have a lot more control and flexibility when it comes to how and when work has to be done. The online business owner will also have more management and creative freedom.
4. Tax Benefits
By owning an e-commerce business, you can take advantage of a tax benefit. Because an ecommerce business can be started from home, this means that a portion of your emi payments, computers, even furniture and utility bills can be deducted from your tax liability. This can be one of the reasons to open a business online, but it should not be the sole reason.
5. Customer Support
The customer is the most important aspect to any business. It might be the case that customers have problems or queries regarding your products, like shipping or features of a particular product. To manage such issues, you must have good team for customer support who can handle real-time customer issues. The service must be available 24/7 since e-commerce customers can use your site at any time of day.
6. Affordable Marketing
Forget about using costly billboards, local ads, or fliers for promotion. Of course, you can use any of these options, but nowadays content marketing, social media marketing, and intelligent interfaces like Facebook, AdWords, and Twitter ads help you reach a wider, targeted audience faster and at a much lower cost.
7. Mobile Commerce
Online shopping is changing rapidly, and you need to adapt to the change in order to stay in this competitive business. Mobile commerce or M-commerce is a growing trend today as it is easy to buy products online through mobile apps. This is a boon and a curse at the same time. Because most people browse the internet on their smartphones these days, you need to have a mobile version of your e-commerce website to increase the traffic to your website.
It is very important that you keep an eye on the activities related to your business and upgrade it with time. You must serve your customers something new on regular basis so that customers will continue to come back to your site.
Featured photo credit: Fabian Irsara via images.unsplash.com