Five reasons to start an e-commerce business
E-Commerce businesses are something that I would love more folks to spend some time on Google or YouTube learning about. There are many advantages to starting an e-commerce business, especially for those who may not have the capital or resources to start building a large-scale company.
The good news is that the digital world has changed many things and now businesses can come in all different shapes and sizes, since times are getting a bit harder, folks may need to start thinking about how they can begin generating new income outside of their jobs.
Physically working two and three jobs may not be feasible for everybody, you have life, you may have kids or responsibilities and it takes a toll on our bodies.
Now, I am not saying building an e-commerce business is easy but it is doable and the benefits are there.
In this article, I want to give you five reasons you should start an e-commerce business or at least start doing more research on it.
1) Low cost, low barriers to start
2) Don’t need brick and mortar store
3) No need for complicated websites
4) Time and location freedom
5) We have the tools needed
Low Cost, Low Barriers:
Let’s use the example of fish farming. Let’s say you decided you want to farm fish, on any scale. You are going to need capital, land, equipment, and resources and getting it started may not be feasible for most people but this is the route that a traditional entrepreneur would take.
If you are thinking e-commerce business, maybe to start supplementing income, you could have a website built, start looking at suppliers for saying something like Fish Feed and focus on those that allow for dropshipping (direct delivery to customers), create traffic coming to your platform and when clients pay for the products on your website, your supplier would have it shipped directly to the consumer.
This would still allow you to be a part of the industry, create an income and not have to take on all of the major overheads, giving you a good start.
Don’t Need a Brick & Mortar
One of the biggest overheads for most people looking to sell products is having that brick-and-mortar location. E-commerce businesses move away from physical locations and exist 100 per cent digitally, you can dive into a hybrid model later on but you can start by just being digital.
If you build your website, use any Caribbean payment gateway like WiPay, First Atlantic Commerce, Sagicor or NCB and clients will be able to pay for your goods/services online and we have lots of logistics companies who can deliver your physical products anywhere in Jamaica for a low fee that you can pass over to consumers and they don’t have an issue paying.
No Need For Complicated Websites
Platforms like Shopify, Wix, Fygaro and WordPress all allow you to build basic websites that are equipped with payment processing so that you can start selling digitally. Don’t overcomplicate your website when starting. You can either build, use a template or have someone put together a starter website for you. The most important part is learning the basics of digital marketing, creating content and some search engine optimization (SEO) so your content shows up on Google to have an effective website. There are free courses available on platforms like HubSpot that dive into all of these things.
Time & Location Freedom
Now, that you have a platform to sell both your physical and digital products and have a logistics company to deliver your goods. You will realise that you are going to start seeing you can have location freedom, you won’t need to just work from home but you can work outside of your home. Your work will also not be tied to a 9-to-5 schedule. You are going to have the flexibility to create your schedule.
We Have The Tools
Years ago, Jamaica never had the tools needed for a small timer to create an online business and get paid all digitally. Go on WiPay and First Atlantic Commerce’s website, look at all of the platforms they integrate with and then research the platform that you would like to learn about. Check out Fygaro as well, they work throughout the Caribbean. We have all the tools needed to get paid from international clients and those without credit cards can use their Visa Debit bank cards to pay for your products online.
Jump on Google and type “E-commerce business ideas”. Research and start thinking about the types of businesses you can start. Start small, if you are working, focus on creating a supplemental income.
E-commerce is the lowest hanging fruit for passive income and it’s the most accessible. We have the tools and platforms, we just need you to start the research.
Keron Rose is a Digital Strategist who works with Caribbean Entrepreneurs. Learn more at KeronRose.com or check out the Digipreneur FM podcast on Apple Podcast/Spotify/Google Podcast.