The Ultimate Ecommerce Startup Checklist 2015
The Ultimate Ecommerce Startup Checklist
Asterisk (*) indicate criteria that are more important
Pick niches where you can add value.
Right type of customers (e.g. women, passionate hobbyists, desperate buyers, etc)
$100-$200 price point
Require lots of Accessories*
Non-technology products* (because tech products becomes obsolete quickly)
Hard to find locally*
From quality manufacturers*
Small product size (easier to deliver)
Disposable or consumable products
A good niche usually has many good suppliers (ordering from multiple suppliers also reduces risk and fulfilment problems). Conduct due diligence online and contact reputable suppliers who usually have:
Solid systems in place to make ordering easy
Detailed, information-rich websites or product catalogues
Experienced sales reps*
Use the Google Keyword Tool to measure search volume. Look out for search terms with many “Long Tail” keywords (Long-tail traffic will generate between 70%-90% of your traffic)
Main keyword has high search volume
Many “long-tail” keywords with high search volume*
- Calculate Profit Per Order (ask suppliers for average costs and search competition for average selling price)
- Calculate estimated profits (assume u can capture and convert 0.1% of total searches into customers) Example: 50,000 monthly searches x 0.1% x $20 profit per order = $1,000 profits per month
Size up the competition to make sure you have a good chance of competing and making money.
Visit the top 5 websites for your niche to gauge their quality*
- Are they easy to navigate?
- Do they provide valuable information?
- Are their product listings detailed and comprehensive?
- Ask yourself “How likely would I buy from this site?” (If the answer is “no” or “maybe”, you have the opportunity to stand out)
Use tools for gauge number on incoming links* (more incoming links = harder to compete)
- Open Site Explorer by Moz
- Moz Toolbar
5. Make your Decision
There are no perfect niches. DONE is better than perfect. Give yourself a DEADLINE. Brainstorm. Research. Shortlist. DECIDE!
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