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There is no argument that the online marketplace is one of the most rapidly burgeoning markets today. In fact, a great percentage of businesses today have some sort of an online presence. Therefore, learning how to sell products on the internet is not a skill that is optional; it is a necessary skill particularly for new businesses that do not have the luxury of an already established distribution chain.
Admittedly, learning how to sell your products can be somewhat of a daunting task to many; this is regardless of whether you are tech savvy or not. Of course, there are a few advantages to being tech savvy but that should not worry you at the moment. You need to figure out what your product is, how to come up with the product (whether to purchase or manufacture), how to market these products and finally how to sell and distribute them online. No matter the size, whether it is a main source of income or a side business, building a business can sometimes be a very overwhelming task, and more often than not time is major constraint as there are other things in play such as increased competition and costs.
However, thanks to the advancement of today’s technology there are countless ways that this particular process can be made so much simpler for you. A couple of decades ago, in order for you to make any money from your small business then you would have to go through the cumbersome task of locating and negotiating a lease for a store front. You would also need a warehouse if your business handles large amounts of inventory, hire staff to help you run the business, and spend countless nights awake wondering whether the tens of thousands of dollars that you have invested in the renovation of the physical store is going to have any substantial impact or not. Businessmen in the world over can now exhale a sigh of relief that these days are finally gone.
One of the key benefits of conducting an online business is that a substantial portion of the overhead costs that are associated with the business tend to be minimized as compared to a situation where one would be setting up a physical store. This portion of your budget can now be transferred elsewhere where it can serve in growing your business substantially.
By mastering the art of selling products via an e-commerce website also confers the benefit of mitigating a substantial amount of financial risks that you would have otherwise been exposed to. It eliminates the need for you or your business to have a form of physical location or to pen down an expensive multi-year lease.
You should note that this information is not meant to imply that maintaining an online business is a walk in the park. It is, however, true that through the application of the technology that is at our disposal today, you are capable of creating and growing an online business with increased expediency as compare to what it was like a couple of decades ago.
How is Technology
Chapter 01 - Benefits of Technology for Selling Online
One of the reason the internet has grown in popularity as a medium for conducting business is the fact that it can allow you to have an easy access to millions of shoppers worldwide. Moreover, because of its global reach an online business can literally be open for 24 hours a day every day. This is tremendous firepower in business and if utilized in the right manner it can help you reap serious rewards.
Admittedly, technology has its limitations as it cannot possibly guide you on tough decisions such as the kind of business to be in, the services to offer, products to sell, or how to manufacture your products in an efficient manner. However, what it can do is offer you with the capacity to present your products to a huge number of prospective customers online and simplifies the process of getting money from the customers’ pockets into your own.
In business there are a lot of tasks that are mundane but are important to the business, quite frankly if we all had a choice we would prefer not to do them. Luckily, with automation you have this choice and you can now free up a substantial amount of your time and devote it towards performing more important tasks in your business.
Each and every day, there are millions of shoppers that visit online market places with the intention of finding the right product for them to buy. There are businesses that have already set up their structure to meet this demand and they are moving tons of products already. This goes to show that there is a lot of potential in selling products online.
If you have already come up with your business model and have products ready to sell, there are a number of sizeable market places which provide you with the opportunity of uploading pictures of your product and commence selling them on the spot. Examples of some of these marketplaces are Facebook, Amazon, Alibaba, Etsy, and many more. The benefit of these sites is that they are capable of matching the overwhelming demand with the appropriate product. Therefore, you will always have a market for your goods thus enabling you to move them that much quicker.
These kinds of marketplaces are great as they provide you with an easy opportunity to market your products online. However, they are not always free and this will eat into your margins. Furthermore, it takes out a little bit of brand image when you use third party marketers. Your business stands to benefit greatly if you are able to create your own e-commerce website. How this can be achieved will be discussed in detail much later.