https://www.oberlo.com/blog/six-online-stores-failed-one-didnt?utm_medium=email&utm_source=mailchimp&utm_campaign=plain-text&utm_content=25Sep18-six-online-stores-failed
You should not have jumped ship from that 9 to 5 just yet.
Online Business / The odds (the likelihood of something happening)
When fidget spinners were all the rage
I was so crazy for trying that. But it sure was one helluva a ride.
You will never regret trying but you will always regret holding yourself back. So take risks. But most importantly, have fun building.
Passive income
Attitude
Won't give up
You have got heart
Hard work to go into this
Hustle and obsessed with business- pressure someone into doing something; unable to stop thinking about something
Build a lot of businesses over the next few years
Some will fail, others will flourish; biggest wins and upsetting loss.
Don't be afraid to fail, and don't be ashamed of your setbacks.
Entrepreneurship is a patience game and is hard.
Do not pull all your expectations in your first store
Keep on buidling - Keep building upon your experience
Find online resources that are completely free but resourcefull e.g. Shopify, Youtube - they might a bit work to organize only.
Build one and the only one store first and focus; focus on getting that product in front of even more people.
Things you should do
1. Adding products to your website
2. Create facebook ads and post on social media
3. Get obsessed with building your store's blog to keep your acquisition costs low,
Keep posting pictures on social media several times a day,
and experiment with ads/emails/products.
4. Do marketing - get your product out to the right people
e.g. More practice, put some content on that blog of yours, try retargeting your blog traffic
try to send your email out to your list,
reach out to some influencers or fan pages and pay for a shout-out; get some influencers to take photos you can use in exchange for a free products.
Keep experimenting with ads; keep testing different ad sets with Facebook ads
5. Once Break even keep working with them. A
6. charge 3-5x multiple of your product cost
7. Lower marketing costs - SEO an affordable, long-term strategies instead of short-term wins like advertising and influencer marketing especially in steady niche. Once you have built up some cash flow, reinvest that money back
8. Don't choose narrow niche that resulted in so few sales; strategy is to choose a niche so big that it had trending products within it.
9. When choosing a nice, choose something with high search volume. e.g. yoga 1.83 million monthly searches. Keep an eye on other best-seller products
>100,000 or millions of searches a month
10. Find product that cannot buy them anywhere. It's an impulse buy product. It's not mainstream enough that someone could just buy it locally.
11. Searching through your feed and find out some products that catching your eyes. The product is different than anything you have seen. It's something you've never realised you would ever want or need. But as soon as you see it, you know you need to have it.
12. Keep executing, marketing, and getting your products in front of customers to ever get to that level.
13. Start with one Channel and Expand
Focus on one to start.
If you want higher engagement and click through rate, try instagram.
If you want to run ads on an impulse buy product, master Facebook
Marketing search based products, play the long game and optimize your website and write a ton of blog content for your niche.
14. Pick a channel and study your competitor's strategies (4 P's) on that channel meticuluosly, post often, and get better over time.
15. Content Marketing can be a powerhouse at driving traffic for a website.
Long term strategy - build out your blog and write content around certain keywords several times a week.
"25 Inspiring Yoga Quotes from Influencers" - reach out to social media followers and those who mention this in their posts.
Before you reach out to them, set up a Facebook pixel on your website, then create a Facebook retargeting ad for $5.
16. Optimise your product page; Optimise our store for conversions
- with countdown timers
- Spin a sale
17. Email Customer after the sale
Email Campaign - Email people who have already bought from us once.
18. Making your first hire
Hire freelancers, act like a mentor and lead by example.
i) Posting on social media
ii) Processing orders for our store
19. Order products from Different Suppliers
Remember to order product samples
once you start making 6 figures, you are going to wish you had put more care into your store's branding and reputation.
e.g. minimize negative feedback and returns by ordering a sample of each product
Ask yourself these questions:
Does the product look like the picture?
Would I feel guilty selling this product?
Does this product work?
Will this product's clothing size fit my target audience?
Take your own product photos to better optimise your product pages
Find your product through watching american idol or maybe other entertainment, see what are they wearing and are they influencers?
Build your own brand store once it becomes one of the successful ecommerce place
Lazada Shaping the consumer purchasing behavior, become number 1 destination for consumers to search and check out whenever your want to buy something...
You can only win by selling unique product and targeting niche market
Online cusomers behavior when they shop online
