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E-Commerce Mistakes to Avoid When Starting to Sell Online

Starting any business, be it a towing service, grocery store or a movie shop is always a tall order. Apart from brick and mortar, another exciting type of business involves selling and operating purely online. Starting an online business can be an exciting venture. However, without crafting the appropriate plan, you can make a lot of mistakes that can jeopardize your chances of success. Though it may be true that we learn from our own mistakes, there are specific types of mistakes we need to avoid, if we are to run successful online businesses.

There are a couple of ecommerce mistakes that can break your business. These mistakes should be avoided at all costs, and include the following.

Failure to carry out market research

Most businesses close shop because they did not do the right market research. For any business to run successfully, it must identify its target audience. If you ask most businesses who their target market is, most will say “everyone” and that is probably a very fat lie and a big mistake. Your business can not satisfy the need of every customer and for this reason, you need to set sight on your ideal audience. If you do not identify your ideal customers, chances are that you will make a lot of mistakes especially when it comes to marketing and advertising.

Sub-par product descriptions

You may have a website with very good products and great images, but what kind of product description do your products have? If your product description fails to describe a product to a customer, you are missing big time. In worst cases, there are websites which have products, but the product descriptions do not match what a product is. To sell your products more, work towards establishing great product copy for all your products, to influence the sales process.

Including out of stock items

Imagine a scenario where a shopper applies filters only to land to a product that once selected, it is out of stock? If such happens, chances are that a shopper will turn to a competitor site and search for products from there. This means you are going to lose big on leads that land on your site. If it happens that a product runs out of stock, make it a habit to remove it immediately and list it when you have it in stock.

Website Design

Not having a mobile friendly website may be one of the main reasons you are missing on your top leads. A large number of traffic for ecommerce sites comes from mobile users. Data shows that 80 percent of those who land on your website start their purchasing journey from their mobile phones. There is the need to have a mobile optimized site if you want to stand out. Ensure that your site is also easy to navigate and not complex to your customers. Also for products you sell, ensure that you have included the right photos for your products. You should not make it mandatory for your site visitors and customers to register once they land on your ecommerce site, make it optional.

How to Pitch Your Startup to Venture Capitalists

When you have an upcoming startup, there are many things you have to get right. You need to ensure that your idea is viable and can be converted into business. You need to think more than starting a simple business such as Towing Service Columbia SC. Next you have to get your team in place. Having the right team in place ensures that you can save on resources and accelerate faster. However, the most important thing for any startup is getting funds right. To get funding for your startup, you need to ensure that you talk to the right people to help you with capital injection. To talk to these people, you have to have a pitch, and here are important tips on pitching to potential funders.

Do your homework

Before you can schedule for the first meeting with a potential investor, you need to be able to sharply define the company’s business model as well as having the right team in place. You need to establish if what you have is a lifestyle business or a cash producing business. You need to define both the short-term vision and the long term vision and well as outlining how the business could become a $1 Billion in terms of valuation in the future. You need to look for ways to tackling a real problem the society is facing. Once you are satisfied that your idea is solid, you can go ahead and look for funders. There are different types of seed funds and you have to understand which one is the right one for you.

Be focused

Many entrepreneurs make a critical mistake of information overload. They come to a potential investor harmed with every possible information and want to present all this information at once. You don’t have to give unnecessary information unless investors ask for it. As an entrepreneur, you need to demonstrate your knowledge of the marketplace and the niche you are involved in. You need to explain what is changing as well as where opportunities are. Only provide the right amount of data that can help investors make the right decisions.

Things may go south

It always costs more than you can think. One of the most difficult decision you will have to make as an entrepreneur is figuring out how much cash you need for your business. You need to ensure that you budget for longer and more money, because everything will continue to become harder as time passes by. The good thing with today’s venture capitalists is that they are flexible and can help you figure out even details you were not aware about.