The world of eCommerce never stands still. Unlike traditional brick-and-mortar stores, customers can shop online anywhere, at any time. This means that online sellers need to be ready for anything. Becoming a successful online seller is no easy feat, and people join the eCom world for a variety of reasons. We spoke with a couple of our eCommerce clients to find out more about what drove them to become an online seller.
What do you enjoy most about being an online seller?
“Low overhead and quick return on investment.”
“Having the freedom to choose when I work and where I work.”
Becoming an online seller provides you with the exciting opportunity of becoming your own boss. You take on a large amount of responsibility and are given the opportunity to pave your own path, which is often something that drives people to become online sellers. Being an online seller should be something that you enjoy, so once you figure out your favorite aspects be sure to chase after them. The online sellers we interviewed enjoyed the comparatively quick revenue potential when compared to more traditional brick-and-mortar approaches and the flexibility the job provides.
How does it feel being your own boss and running your own business? What do you like most about it?
“It’s challenging but rewarding. It’s an incredible journey. You learn a lot about yourself, your challenges, your strengths and weakness.”
“When things are going well it’s super fun and exciting. Some days it feels like there’s challenge after challenge and you want to run away, but you have to just keep going because your business will not grow unless you deal with the issues. The best part of running your own business is that no one can tell you what to do and each day is a little bit different.”
Becoming your own boss can definitely be an adjustment, especially if you’ve never taken on this level of responsibility before. Just like with anything, it can have its ups and downs. We like to think that the good times outweigh the bad, because it can be an incredible learning experience. Being your own boss as an online seller gives you the opportunity to take charge of your own life and decide where your choices will take you. There is so much satisfaction and strength associated with overcoming challenges. While being an online seller might not always seem like a walk in the park, at the end of the day the growth of your business and yourself is worth it. Being your own boss as an online seller requires patience and strength. As long as you keep your end goal in mind, the challenges won’t seem so daunting at the end of the day.
What drew you to become an online seller?
“Being able to start a business from the comfort of your own home.”
“It’s a gold rush online and so I want to take advantage of it. I also love travelling and so selling online allows me to do that.”
Not everyone becomes an online seller for the same reason. One of our interviewees enjoyed the ability to work from home, while the other wanted to take advantage of the vast opportunity present online, while also being able to travel. It doesn’t matter what caused you to become an online seller, as long as you put your all into your business and work to provide value to your customers.
How does creativity play a role in running your white label business?
“Being able to zig when everyone is zagging. Deliver value to customers.”
“Sometimes if you are too creative or create a product offering that is too unique, the market does not respond well to it. You need to balance analytical number crunching with a touch of creative flare.”
If you want to stay ahead in eCommerce, it’s necessary to be creative and keep up with the trends, but you still need to understand what your target audience is looking for. There is a fine line between being creative enough to stand out and too creative to be practical. Make sure that you do your research to be able to stand out in the eCom world in a way that is right for your business. Creativity isn’t just about your product itself, but also about your business strategy. Even if your product has a simple offering, the way that you present it can make all the difference.
When it comes to managing the white label process from end to end, what are the different aspects involved e.g. customs, that you have to oversee?
“cash flow, finances, accounting, human resource, sales, KPI, inventory.”
“Marketing (print, copywriting, graphics, photography, reviews, paid advertising, e-mail follow-ups, social media), Operations (inventory management, shipping, customs, regulations, customer service), Financial (banking, bookkeeping, accounting), Product Development (research, analysis, testing, packaging, instructions)”
With running your own business, comes a lot of responsibility. It’s not as simple as registering as a seller on Amazon and watching everything fall into place. If you’re responsible for your own online business, you have to keep in mind all of the wheels that must turn to make your business move forward. If you want to start an online business, but don’t feel up to taking care of certain process like accounting or marketing, consider hiring an outside party to help you run things. There are many companies out there that you can hire who can make the day-to-day tasks easier and help you streamline your online business. This way you can spend more time focusing on your favorite parts of online selling and less time on everything else.
How does competition with other sellers play a role in running your online business?
“keeps you on your toes and makes you optimize and not be lazy.”
“Once my products are live, I don’t pay much attention to my competition. If I look at my competition, it’s only to find little tips and tricks that can improve my product offering. Time focused on competitions is time taking away from improving your own business.”
Just like with any industry, competitors are everywhere. The eCommerce world is a little different though, because you can easily research your competition with the click of a button and from the comfort of your living room. Information about your competitors is so easily accessible that it’s almost impossible to ignore. This means that you should take the time to research your competition, because they are probably researching you as well. However, don’t become obsessed with the competition and focus all of your energy on them. This will be counterproductive for your business. Don’t let the number of competitors present in your field discourage you, but instead be inspired by the amount of opportunity present.
At times, the eCommerce world can seem like a rollercoaster ride with highs and lows and twists and turns. We like to think of the ride as being more fun than scary, and from the responses of our clients, it seems like they agree.
If you’ve recently started your online business and want to expand globally, consider using World First as your go-to resource for you currency exchange needs. Visit our website to find out more about the services we offer and how we can help your online business grow.
Or if you’re already selling online, leave a comment below to any of the above questions to share what the eCom world means to you.
Looking for more resources for your online business? Check out our Facebook group. Join our community of online sellers where you can share tips, keep up with eCommerce trends and help your business do more.